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CO2 emission mitigation and fossil fuel markets: Dynamic and international aspects of climate policies

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Figure

Fig. 2 shows the cumulative use of fossil fuels across the different models over varying time frames, where the dark color shadings indicate short-term consumption (2011 –2030) and light color shadings depict long-term consumption (2030 –2011)
Fig. 3. Changes of global fossil fuel use of cases with constrained ‘when’-flexibility compared with respect to the first best solution shown in Fig
Fig. 4 shows fossil fuel revenues for the no-policy baseline and the two stabilization scenarios with full ‘when’-flexibility.
Fig. 5. Differences of net present value of cumulative fossil fuel revenues compared with corresponding first best case assuming the same stabilization target
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