Global climatic warming associated with increased concentrations of `green house' gases, such as CO
2, has long been recognized by scientists although not by the general public.
It is time to focus public attention on the warming of the atmosphere due to the green house effect and to discuss it with not only experts but also policy makers and government officials with in congressional hearings and meetings. International organizations are currently conducting meeeting on institutional countermeasures for limitation of CO
2 emission. The impacts of these limitations of CO
2 emmision on energy economics (energy demand and supply, energy market) have to be assessed using an institutional approach.
The meeting in Tronto in June 1988 appealed to wealthy nations to cut their CO
2 emissions by 20% by the year 2005. This study examines these issues by assessing the impacts of the Tronto meeting's appeal. Its principal findings are as follows.
1. CO
2 emission level in 2005 in the no-limitation case will be 1. 7 times higher than the goal of the Tronto appeal. CO
2 emission levels of OECD countries in 2005 will be 1.5 times higher than the goal of the Tronto appeal; Centrally planned economies will be 1.9 times higher; LDCs will be 2.0 times higher.
2. It is important that Centrally planned economies, especialy China and the LDCs participate in the CO
2 emission limitation club.
3. The CO
2 emission limitation meeting of Tronto's goal would result in a drastic change in energy mix which would be followed by an unbalance of energy demand and supply, energy price rises and changes in economy growth.
4. The greatest determinant of the level of future CO
2 emissions is the degree of future improvement in energy efficiency. But each country has different levels of energy efficiency.
Therefore each country has different potential for future improvement in energy efficiency.
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