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Category_ID - 5
Doc_Title - OPTIMAL FOREST CARBON SEQUESTRATION
Doc_Author - Brent Sohngen, Robert Mendelsohn
Doc_Number - AEDE-WP-0009-01
Doc_Start_Date - 06/13/2001
Doc_End_Date - 06/13/2002
Doc_URL_AddLocal - C:\WINNT\ACF1542.tmp
Tag_Functional - AED Econ Working Paper
Tag_SubUnit - Environmental Economics
Tag_Program - NULL
Tag_Industry - Environmental
Tag_Misc - NULL
Tag_Resources - Forest,Timber
Tag_Practice - Natural Resources,Policy

This study examines the optimal timing and amount of carbon sequestration as a component of an optimal control model of greenhouse gases. As carbon accumulates in the atmosphere, the carbon rental price should rise suggesting an increasing incentive to sequester carbon over time. A general equilibrium model of sequestration, taking into account global timber prices and the increasing scarcity of land, suggests that substantial amounts of carbon could be sequestered in forests reducing the price of carbon. The bulk of this carbon should be kept in tropical forests with a large proportion of the carbon resulting from reduced deforestation initially. Though important, carbon sequestration is more costly than many estimates in the literature, suggesting it plays only a partial role controlling greenhouse gases. KEYWORDS: carbon sequestration, optimal control, timber markets