Frisch seminar: Michael Hoel

Abstract: To reach the ambitious goals of the Paris agreement, the world needs to reduce net carbon emissions to zero by the middle of this century. To achieve this, there is a need for some kind of carbon dioxide removal (CDR). The paper gives an analysis of the interaction between extraction of fossil energy resources and CDR. I show that it will always be optimal to have a period of negative net emissions. Moreover, cumulative extraction will not depend on how high are the climate costs, but will be higher the lower is the cost of CDR at low levels of CDR.

Published Aug. 8, 2022 12:18 PM - Last modified Aug. 24, 2022 9:28 AM