BoE paper models impact of fossil fuel ban
Degree to which renewables could replace petrol and gas would be key factor, research says
The impact of a ban on fossil fuels in the UK would depend on the degree to which other energy sources could be substituted for them, Bank of England research has found.
In their working paper, Sandra Batten and Stephen Millard model the effects of two policies aimed at tackling the climate crisis. The authors examine a ban on the use of petrol (gasoline) and natural gas by households, and a carbon tax.
“The effects of a ban on household consumption of petrol or gas depend crucially on the
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