the kyoto protocol has tried to create an international framework where greenhou
ID: 157983 • Letter: T
Question
the kyoto protocol has tried to create an international framework where greenhouse has emissions are limited through a cap and trade system. so far, it has experienced very limited success. the actual greenhouse emissions of many counrties are considered to be much higher than efficient levels. explore the challenges experienced during the drafting and implementation of the protocol, what would the coase therorem predict about the emission levels? why weren't thes predictions realized? suppose that marginal costs of emissions are very uncertain. in this case, would you suggest emission fees or cap and trade?
Explanation / Answer
The challenges are --- 1. U.S will not be included ---- U.S would not be participating in the kyoto protocol , which states that Canada has not been thoroughly explored. To have the kyoto protocol apply to only one part of a highly integrated North American economy raises all kind of problem.
2. Time is short ---- The begining of the 2008-2012 commitment period is only 5 years away , it will take some time to reduce GHG emissions , The fact that the canadian government has not come forward with a specific detailed plan , makes the attainment of the target all more problematic.
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