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Stranded oil of Erewhon

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  • Cairns, Robert D.

Abstract

Recently, there has been an expression of concern that vast quantities of oil must remain in the ground because of anticipated action on climate change. A consequent fall in share values of international oil companies may threaten pensions, small investments and even the stability of the financial system. The threat is held to warrant policy intervention to provide more information to small investors. Consideration of the technology of oil extraction and of the options available to oil companies suggests that there is little basis for the concern.

Suggested Citation

  • Cairns, Robert D., 2018. "Stranded oil of Erewhon," Energy Policy, Elsevier, vol. 121(C), pages 248-251.
    • Handle: RePEc:eee:enepol:v:121:y:2018:i:c:p:248-251
    DOI: 10.1016/j.enpol.2018.06.032
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    References listed on IDEAS

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    1. Cairns, Robert D. & Calfucura, Enrique, 2012. "OPEC: Market failure or power failure?," Energy Policy, Elsevier, vol. 50(C), pages 570-580.
    2. Adelman, M A, 1990. "Mineral Depletion, with Special Reference to Petroleum," The Review of Economics and Statistics, MIT Press, vol. 72(1), pages 1-10, February.
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    7. James L. Smith, 2009. "World Oil: Market or Mayhem?," Journal of Economic Perspectives, American Economic Association, vol. 23(3), pages 145-164, Summer.
    8. Harold Hotelling, 1931. "The Economics of Exhaustible Resources," Journal of Political Economy, University of Chicago Press, vol. 39(2), pages 137-137.
    9. Boyce, John R. & Nøstbakken, Linda, 2011. "Exploration and development of U.S. oil and gas fields, 1955-2002," Journal of Economic Dynamics and Control, Elsevier, vol. 35(6), pages 891-908, June.
    10. Robert Cairns, 2004. "Green Accounting for an Externality, Pollution at a Mine," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 27(4), pages 409-427, April.
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    Cited by:

    1. Rempel, Arthur & Gupta, Joyeeta, 2021. "Fossil fuels, stranded assets and COVID-19: Imagining an inclusive & transformative recovery," World Development, Elsevier, vol. 146(C).

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