Kyoto Protocol and Beyond: The Economic Cost to the United Kingdom

International Council for Capital Formation
October 18, 2005

(PDF)

Meeting the Kyoto Protocol target in 2008-2012 through a combination of domestic actions plus purchases of international credits would increase the price of home heating oil by 44%. Consumers would also pay more for gasoline and diesel.

If the U.K. meets the Kyoto Protocol’s emission reduction target, prices for industry would rise dramatically. U.K. industries would pay more than 46% more for natural gas and 35% more for electricity than under the baseline projection.

Under the assumption that the Kyoto Protocol’s emission targets are made even more stringent in the post-2012 period, the impact on household heating oil prices would rise to more than 50-60% above the baseline estimate by 2025. Gasoline and diesel prices would rise substantially, between 9-12% by 2025.

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