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The Price Is Wrong: New Report Calls for Fossil Fuel Prices that Reflect Environmental Costs

A new report from the International Monetary Fund (IMF), Getting Energy Prices Right: From Principle to Practice, argues that the costs of coal, natural gas, gasoline, and diesel fail to account for these fuels’ environmental and social impacts—such as greenhouse gas emissions, air pollution, and traffic deaths.

Setting prices that reflect these side effects—through taxes, licensing, or cap-and-trade systems—could reduce deaths from fossil fuel-related air pollution by 63 percent, decrease global carbon dioxide emissions by 23 percent, and generate revenues totaling about 2.6 percent of global GDP.

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Watching for Signs of Climate Action in the State of the Union Address

When President Obama addresses the nation later today, climate change is expected to be featured. The president recently said that one of his personal passions is “leaving a planet that is as spectacular as the one we inherited from our parents and our grandparents.” The next two years will determine if his administration can meet this standard.

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5 Ways Wisconsin Can Reduce Power Plant Emissions

Wisconsin has already taken strides to reduce its near-term power sector CO2 emissions by implementing cost-effective clean energy policies. And the state has the opportunity to go even further. In fact, new WRI analysis finds that Wisconsin can reduce its CO2 emissions 43 percent below 2011 levels by 2020 by extending its existing clean energy policies and taking advantage of existing infrastructure. Achieving these reductions will allow Wisconsin to meet even ambitious EPA power plant emissions standards, which are due to be finalized in 2015.

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WRI analysis finds that Colorado can reduce its CO2 emissions 29 percent below 2011 levels by 2020. These reductions would meet or exceed moderately ambitious EPA power plant emissions standards. Although EPA has not yet announced what its power plant emissions standards will look like, WRI based its analysis on two hypothetical standards. Under these scenarios, Colorado would be required to reduce its CO2 emissions in the range of 28 to 37 percent below 2011 levels by 2020.

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