US Energy Tax Policy

Brings together a collection of papers from academia, government, and policy think tanks on US energy tax policy.

Gilbert E. Metcalf (Edited by)

9781107436022, Cambridge University Press

Paperback / softback, published 21 August 2014

414 pages, 56 b/w illus. 1 map 42 tables
22.9 x 15.2 x 2.3 cm, 0.6 kg

'Gilbert Metcalf, a leading energy economist, has assembled a stellar cast of experts from universities and think tanks across the United States to explore key questions about U.S. energy tax policy - questions that are absolutely crucial to the country's future. Where politicians fear to tread, these scholars ask and answer the tough questions.' Robert N. Stavins, John F. Kennedy School of Government, Harvard University

The United States face enormous challenges in the energy area. Climate change, biofuels policy, energy security and environmental degradation are all intimately bound up with energy production and consumption. Historically, the federal government has relied on tax subsidies to effect energy policy. With mounting federal deficits, policymakers and advocates are increasingly calling for a rethinking of our energy tax policy. How can the federal tax code strengthen environmental policy and reduce security concerns in the area of energy? The authors tackle such difficult problems as climate change, efficient taxation of oil and gas, and optimal oil tax policy in a world with OPEC oil producers dominating world oil supply. This volume presents a number of innovative policy suggestions backed by sophisticated and cutting-edge research carried out by leading scholars in the area of energy taxation.

1. Introduction Gilbert E. Metcalf
2. Distributional impacts of carbon pricing policies in the electricity sector Dallas Burtraw, Margaret Walls and Joshua Blonz
Comments Don Fullerton, Comments Terry M. Dinan
3. Distributional impacts of a US greenhouse gas policy: a general equilibrium analysis of carbon pricing Sebastian Rausch, Gilbert E. Metcalf, John M. Reilly and Sergey Paltsev
Comments Richard D. Morgenstern
4. Instrument choice is instrument design David Weisbach
Comments Eric Toder
5. Taxes, permits, and climate change Louis Kaplow
6. Border adjustments for carbon taxes and the cost of emissions permits: economic, administrative, and legal issues Charles E. McLure
7. Taxes and caps as climate policy instruments with domestic and imported fuels Jon Strand
8. How much should highway fuels be taxed? Ian W. H. Parry
Comments Roberton C. Williams III
9. State tax policy and oil production: the role of the severance tax and credits for drilling expenses Ujjayant Chakravorty, Shelby Gerking and Andrew Leach
10. The social costs and benefits of US biofuel policies with pre-existing distortions Harry de Gorter and David R. Just
Comments Brent Yacobucci.

Subject Areas: Environmental science, engineering & technology [TQ], International environmental law [LBBP], Business strategy [KJC], Political economy [KCP], Environmental economics [KCN], Economics, finance, business & management [K], Sociology [JHB]