Let’s say a climate accord is reached between different countries. each wealthy country agrees that starting in 2020 they will gradually lower carbon emissions until they are 80% lower by 2060. this would require cuts in emissions of about 4% per year. 1. how much would carbon prices have to rise each year? 2. how much higher would carbon prices be by 2060? 3. how much would a gallon of gas cost in 2060 (in today’s % increase in energy prices resulted, on average, in a 2.1% decline in the quantity consumed in the short run and a 6.1% decline in the long run.)
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Let’s say a climate accord is reached between different countries. each wealthy country agrees that...
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