Tuesday, August 30, 2011

TEF Faculty Research Presentation: The Option Value of Climate Engineering

On Tuesday, April 19th, Texas Energy Forum will host “The Option Value of Climate Engineering: Evaluating the Costs and Benefits of Solutions to Global Warming” from 6-7:30PM in UTC 3.102. Dr. Eric Bickel will present his decision analysis research that was recently ranked by a panel of Nobel Laureates in economics as the best approach to climate change, and was additionally featured in a movie ( http://coolit-themovie.com/videos ) Watch this short trailer for a preview of next week’s discussion.

This Academic Research Seminar is recommended for any student that wants to learn more about a key issue driving the renewable energy and fossil fuel energy
 industries. Additionally, this lecture will be extremely valuable to anyone interested in the economic impacts of global warming. The talk will be open to all undergraduate/graduate students and faculty at UT. No RSVP required, however space is limited so come early to secure a seat. Catered drinks and pizza will be provided.

Global warming is a driving issue in all aspects of today’s world, especially energy. Fear has ruled the climate debate and has drawn significant criticism to the US’s energyindustry. But nobody knows for certain as to what effects an increase in global temperatures will have. Economist Bjørn Lomborg has taken a different approach to this controversial issue, he is not a global warming skeptic, but he believes the severity of these issues has been grossly overstated, and most scientists s agree. In the movie “Cool It” featuring UT professor Dr. Eric Bickel, Lomborg asks the world’s leading researchers to quantify the costs and benefits of various solutions to global warming.
After consideration of options including everything from carbon taxes to emissions reductions to climate engineering, Lomborg’s panel of Nobel Laureates chose Dr. Bickel’s work on climate engineering as the most valuable and feasible solution to global warming. Dr. Bickel will discuss his research and its relation to valuation of options, uncertainty, and decision analysis, as well as climate engineering and other solutions to global warming.

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