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New Policy Idea: Buy Coal! A Case for Supply-Side Environmental Policy

In this Apr. 2007 file photo, a shovel prepares to dump coal into a truck at the Black Thunder Mine in Wright, Wyo. U.S. coal exports have been increasing as strong overseas demand offers an outlet for a fuel falling from favor at home.
AP Photo

New Policy Idea: Buy Coal! A Case for Supply-Side Environmental Policy

News, Harvard Project on Climate Agreements, Belfer Center for Science and International Affairs, Harvard Kennedy School

April 26, 2012

Author: Bryan Galcik

Belfer Center Programs or Projects: Harvard Project on Climate Agreements

 

Bard Harstad, Associate Professor of Managerial Economics and Decision Sciences at the Kellogg School of Management at Northwestern University, recently released a study, "Buy Coal! A Case for Supply-Side Environmental Policy," that will be published in a forthcoming issue of the Journal of Political Economy. Harstad argues that the best policy to curb climate change is to purchase—and hold without using—extraction rights to fossil fuel deposits, as opposed to attempting to reduce greenhouse-gas emissions directly. This idea sparked lively debate at a research workshop on international climate policy organized by the Harvard Project on Climate Agreements in Venice, Italy, on May 21, 2010. The workshop was hosted by Fondazione Eni Enrico Mattei, a leading international research institute focusing on environmental policy and sustainable development.

Harstad has contributed crucial research to the Harvard Project on Climate Agreements in the following publications:

"How to Negotiate and Update Climate Agreements"

"The Dynamics of Climate Agreements"

"Rules for Negotiating and Updating Climate Treaties"

Media Coverage of "Buy Coal! A Case for Supply-Side Environmental Policy"

http://www.redorbit.com/news/science/1112513532/can-supply-side-economics-solve-global-pollution-problems/

http://www.onlinetes.com/energy-coal-manufacturing-Kellogg-041612.aspx

 

For more information about this publication please contact the Harvard Project on Climate Agreements Coordinator at 617-496-8054.

For Academic Citation:

Galcik, Bryan. "New Policy Idea: Buy Coal! A Case for Supply-Side Environmental Policy." News, Harvard Project on Climate Agreements, Belfer Center for Science and International Affairs, Harvard Kennedy School, April 26, 2012.

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