CREDIT-BASED CONGESTION PRICING: AN OPPORTUNITY FOR REDUCTIONS IN GREENHOUSE GAS EMISSIONS?

摘要: US greenhouse gas (GHG) emissions rose 16 percent between 1990 and 2004, while those from light-duty vehicles rose 23%.(EPA 2006) During the same period, GDP increased 51%(BEA 2005) and VMT rose 37%–more than doubling the nation’s population increase.(Davies et al. 2007 and EPA 2006) While GHGs are on the rise, public policy can result in substantial energy savings. US Corporate Average Fuel Economy (CAFE) standards, in place since 1978, have had a significant effect on GHG emissions, offering the US steeper reductions per unit of GDP than many other countries during the 1990s.(Geller et al. 2006)Transportation’s combustion of fossil fuels is the leading source (roughly 30%) of US CO2 emissions. This sector has serious potential for further increases, via rising air travel, continuing suburbanization and congestion (Cao and Mokhtarian 2005), heavier vehicle choices, and more permissive global trade agreements.(Raux and Marlot 2005) A variety of policies are no doubt needed, to curb GHG emissions by the transport sector, in the US and abroad. Congestion pricing is one policy that may impact both VMT and idling, two GHG sources. This paper examines the levels of VMT reduction and public welfare effects that may be expected under such policy.