Read the article"Will We Ever Stop Using Fossil Fuels? to answer questions. The links of the article is below.

http://web.mit.edu/knittel/www/papers/JEP_hydro_latest.pdf

G. What can we learn from this about the future of carbon impacts? 1. How much fossil fuel usage do the authors expect by 2040 without a major policy intervention? 2. How should this effect temperature and welfare? Where do these estimates come from? 3. What market failures do the authors believe these numbers show? What is a market failure? 4. What policy do they recommend based on this