U.S. Agriculture's Role in a Greenhouse Gas Emission Mitigation World: An Economic Perspective

International agreements are likely to stimulate greenhouse gas mitigation efforts. Agriculture can participate either as a source of emission reductions or as a sink for gas emission storage. Emission trading markets are likely to emerge where agriculture could sell emission offsets. Several agricultural opportunities are available at a cost of $10-25 per ton carbon dioxide. Abatement costs for non-agricultural industries have been estimated to be as much as $200-250 per ton carbon dioxide. In the longer run, agriculture's role may diminish because many agricultural strategies offer only one-time gains and non-agricultural emitters may lower costs through technical change.