Assessing the control of energy-related CO2 emissions with a dynamic energy process model

In this paper, an energy-process model with geometric distributed lag (GDL) demand, called the energy-GDL process model, is updated to aid in energy-related CO₂ emission control policy analysis. The updated model was formulated, constructed and solved with the updated GDL version of the Waterloo Energy Modelling System (WATEMS-GDL), which uses the new decoupling algorithm to calculate an intertemporal equilibrium of energy supplies and demands, along with the corresponding CO₂ emission control submodel. The methods used for analysis of the economic impacts of CO₂ emission control are carefully explored. An updated energy-GDL process model of supplies and demands of oil, gas, electricity, and coal in Canada is presented, and a comparison of scenarios is discussed to assess the impacts of controls on CO₂ emissions in Canada.