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Articles by Nat Keohane

Nathaniel Keohane oversees Environmental Defense Fund's analytical work on the economics of climate policy, and helps to develop and advocate the organization's policy positions on global warming. From 2001 to 2007, Nat was an Assistant and then Associate Professor of Economics at the Yale School of Management. Nat is also the co-author of Markets and the Environment and co-editor of Economics of Environmental Law (Edward Elgar, forthcoming).

Featured Article

In his insightful post, Rob Stavins makes two key points regarding the allocation of emission allowances under climate legislation like that introduced last week by Sens. Kerry and Lieberman.

First, Stavins addresses head-on the concerns that some progressives have toward the allocation provisions in the bill, asking, “Is the Kerry-Lieberman allowance allocation a corporate give-away?” To answer this question, Stavins carries out a careful breakdown of the allowance allocation in the Kerry-Lieberman bill. He shows that the vast majority of emission allowances (more than 80 percent over the duration of the bill) — goes to energy consumers and public purposes (including deficit reduction). That hardly sounds like a windfall to big corporations! Indeed, if you add it up, the largest fraction of allowance value (43 percent in total, according to my calculations) goes to households, through an energy refund to low-income consumers, a tax credit to working families, a universal trust fund for all Americans, and allowances that are allocated to local electricity and gas utilities for the benefit of their customers.

As Stavins’s calcul... Read more