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Views on peak oil and its relation to climate change policy

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  • Verbruggen, Aviel
  • Al Marchohi, Mohamed
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    Abstract

    Definitions of fossil fuel reserves and resources and assessed stock data are reviewed and clarified. Semantics explain a large stake of conflict between advocate and critical voices on peak oil. From a holistic sources-sinks perspective, limited carrying capacity of atmospheric sinks, not absolute scarcity in oil resources, will impose tight constraints on oil use. Eventually observed peaks in oil production in nearby years will result from politically imposed limits on carbon emissions, and not be caused by physical lack of oil resources. Peak-oil belief induces passive climate policy attitudes when suggesting carbon dioxide emissions will peak naturally linked to dwindling oil supplies. Active policies for reducing emissions and use of fossil fuels will also encompass higher energy end-use prices. Revenues obtained from higher levies on oil use can support financing energy efficiency and renewable energy options. But when oil producers charge the higher prices they can pump new oil for many decades, postponing peak oil to occur while extending carbon lock-in.

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    Bibliographic Info

    Article provided by Elsevier in its journal Energy Policy.

    Volume (Year): 38 (2010)
    Issue (Month): 10 (October)
    Pages: 5572-5581

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    Handle: RePEc:eee:enepol:v:38:y:2010:i:10:p:5572-5581

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    Web page: http://www.elsevier.com/locate/enpol

    Related research

    Keywords: Peak oil Climate change policy Carbon sources and sinks;

    References

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    Citations

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    Cited by:
    1. Toft, Peter & Duero, Arash, 2011. "Reliable in the long run? Petroleum policy and long-term oil supplier reliability," Energy Policy, Elsevier, vol. 39(10), pages 6583-6594, October.
    2. Shkolnikov, E.I. & Zhuk, A.Z. & Vlaskin, M.S., 2011. "Aluminum as energy carrier: Feasibility analysis and current technologies overview," Renewable and Sustainable Energy Reviews, Elsevier, vol. 15(9), pages 4611-4623.
    3. Pereira, Alfredo M. & Pereira, Rui M., 2014. "On the environmental, economic and budgetary impacts of fossil fuel prices: A dynamic general equilibrium analysis of the Portuguese case," Energy Economics, Elsevier, vol. 42(C), pages 248-261.
    4. Wicker, Pamela & Becken, Susanne, 2013. "Conscientious vs. ambivalent consumers: Do concerns about energy availability and climate change influence consumer behaviour?," Ecological Economics, Elsevier, vol. 88(C), pages 41-48.
    5. Russo, D. & Dassisti, M. & Lawlor, V. & Olabi, A.G., 2012. "State of the art of biofuels from pure plant oil," Renewable and Sustainable Energy Reviews, Elsevier, vol. 16(6), pages 4056-4070.
    6. Sena, Marcelo Fonseca Monteiro de & Rosa, Luiz Pinguelli & Szklo, Alexandre, 2013. "Will Venezuelan extra-heavy oil be a significant source of petroleum in the next decades?," Energy Policy, Elsevier, vol. 61(C), pages 51-59.
    7. Dinwoodie, John & Tuck, Sarah & Rigot-Müller, Patrick, 2013. "Maritime oil freight flows to 2050: Delphi perceptions of maritime specialists," Energy Policy, Elsevier, vol. 63(C), pages 553-561.
    8. XU, Yaoyang & Boeing, Wiebke J., 2014. "Modeling maximum lipid productivity of microalgae: Review and next step," Renewable and Sustainable Energy Reviews, Elsevier, vol. 32(C), pages 29-39.

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