Costs
Emissions in the EU have been reduced at costs that are significantly lower than projected, though transaction costs are related to economies of scale and can be significant for smaller installations. Overall, the estimated cost was a fraction of 1% of GDP. It was suggested that if permits were auctioned, and the revenues used effectively, e.g., to reduce distortionary taxes and fund low-carbon technologies, costs could be eliminated, or even create a positive economic impact.
Read more about this topic: European Union Emission Trading Scheme
Famous quotes containing the word costs:
“To exercise power costs effort and demands courage. That is why so many fail to assert rights to which they are perfectly entitledbecause a right is a kind of power but they are too lazy or too cowardly to exercise it. The virtues which cloak these faults are called patience and forbearance.”
—Friedrich Nietzsche (18441900)
“It costs more to maintain ten vices than one virtue.”
—H.L. (Henry Lewis)
“The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.”
—Adam Smith (17231790)