Energy market failure in road transport: Is there scope for ?no regrets? greenhouse gas reduction?
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Abstract
The Australian Government policy on reduction of greenhouse gas emissions announced in 1990 includes exploring the scope for immediate, low cost reductions. Such measures can be taken as including ‘no regrets’ policies: those that, in addition to mitigating potential climate change, confer economic gains (including other environmental benefits) which exceed their costs. Some possible ‘no regrets’ opportunities and policies are identified relevant to energy use by the road transport sector over the period to 2020. The MARKALMENSA multi-period linear programming model of the Australian energy sector is used to investigate the cost-effectiveness of these policies.