The Potential of Carbon Offsetting Programs and Travelers Willingness to Support Them

by Margaret Loncki

Tourism-related air travel has consistently been one of the fastest growing carbon releasing industries. Although, the industry has faced serious pressure to reduce their carbon output, it has struggled to find an efficient way to accomplish this. Choi and Ritchie (2014) aim to discover how much consumers are willing to pay to offset the CO2 emissions released by their travel. Many airlines have carbon offsetting programs that allow passengers to pay a fee to help fund carbon reducing research and development programs as well as the production and support for new and existing clean energy programs and renewable energy sources. Although most travelers understand the implications of the carbon released by their flights, only a fraction of passengers have supported the carbon offsetting programs offered by airlines. Continue reading

Chinese Energy Security

by Ali Siddiqui

According to Yao and Chang (2015), China’s energy security has not improved over 30 years of reform. The authors aimed to understand why in a qualitative fashion, finding a critical component is China’s macroeconomic reform. By analyzing China’s energy security in this fashion, these researchers hope to broaden the perspective on the way developing economies in transition conduct research on their energy security. Continue reading

The 2009 View: Globalization may be Thwarted as a Result of Climate Change and Diminished Oil Supply

by Margaret Loncki

Just how devastating are the potential effects of both global warming and peak oil on global trade? Fred Curtis, professor of economics and environmental studies at Drew University, explains that the effects are potentially disastrous. Curtis points out the four main characteristics of climate change are capable of undermining global trade: increased temperature, rising sea levels, increased precipitation, and increased hurricane severity. Curtis also explores how peak oil will play a role in global trade. Peak oil, a point at which maximum oil output is reached, will result in an increased gap between oil demand and oil supply leading to increased oil prices. Increased gas prices lead to less cost-effective shipping, and therefore, discouraged international trade. Curtis concludes that current climate change policy is too insignificant and will be unable to mitigate the effects of decreased international trade. Continue reading