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lcfs -- Low Carbon Fuel Standards Article by Sperling and Yeh
Posted: 05 Feb 2009 11:06:49
ARB staff has posted the article identified below to the Low Carbon Fuel Standard (LCFS) web site (http://www.arb.ca.gov/fuels/lcfs/1208lcfs_issues.pdf). A synopsis follows: In this overview of the range of the approaches that have been taken to the problem of reducing petroleum consumption (whether to decrease dependence on foreign oil, or to reduce fuel carbon intensity), Sperling and Yeh show why California’s proposed LCFS should be successful where other programs have failed. Prior efforts fell short because they prescribed specific solutions (methanol, electric vehicles, mandated biofuel production levels etc.) without anticipating petroleum fuel price fluctuations. Economic incentives such as carbon taxes and cap-and-trade-programs are more promising but are not likely to significantly alter transportation fuel markets in the short term because these markets are singularly unresponsive to even large price fluctuations. Unlike these approaches, the LCFS is performance-based: industry rather than government ‘picks’ the fuels it will use to achieve compliance. Reference: Sperling, Daniel and Sonia Yeh. Winter 2009. “Low Carbon Fuel Standards.” Issues in Science and Technology: 57-66. A publication of the National Academies of Science.