Climate Change: Analysis of Two Studies of Estimated Costs of Implementing the Kyoto Protocol
A letter from the U.S. General Accounting Office to Senators Ernest F. Hollings and John Kerry identifies likely reasons for the differences between the Energy Information Administration’s $397 billion estimated economic costs to the United States in 2010 for implementing the Kyoto Protocol and the Council of Economic Advisers’ estimate that the economic cost would be about $12 billion per year. The letter reviews the economic models used to prepare these estimates and the assumptions incorporated into these models, including economic assumptions and assumptions about how the Protocol would be implemented.
This Summary Last Modified On: 4/22/2011