By Michael Greenstone

World leaders are once again racing to avert disastrous levels of global warming through limits on greenhouse gas emissions. An agreement may be in reach, but because of the vast supplies of inexpensive fossil fuels, protecting the world from climate change requires the even more difficult task of disrupting today’s energy markets.

The White House last month released a blueprint to reduce United States emissions by as much as 28 percent by 2025. The plan lays the groundwork for the formal international climate talks this December in Paris, where the goal is a treaty on emissions that will seek to limit the rise in global temperatures to 3.6 degrees Fahrenheit above preindustrial levels. Beyond 3.6 degrees, scientists say, the most catastrophic climate consequences will occur, possibly including the melting of the Greenland ice sheet.

Forging a treaty in Paris would be no small task, yet would be just the beginning of a solution. The greater challenge will be deciding how much of the world’s abundant supply of fossil fuels we simply let lie. (Bill McKibben and more recently The Guardian have taken a maximal position in their Leave It in the Ground campaign).

Continue reading at the NY Times Upshot Blog…

Areas of Focus: Fossil Fuels
Definition
Fossil Fuels
Under current policies, fossil fuels will play an important role in the energy system for the foreseeable future. EPIC research is exploring the costs and benefits of these fuels as...
Climate Change
Definition
Climate Change
Climate change is an urgent global challenge. EPIC research is helping to assess its impacts, quantify its costs, and identify an efficient set of policies to reduce emissions and adapt...
Climate Law & Policy
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Climate Law & Policy
As countries around the world implement policies to confront climate change, EPIC research is calculating which policies will have the most impact for the least cost.