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Does Increased Extraction of Natural Gas Reduce Carbon Emissions?

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  • Finn Aune
  • Rolf Golombek

    ()

  • Sverre Kittelsen

Abstract

Without an international climate agreement, extraction of more natural gas could reduce emissions of CO 2 as more “clean” natural gas may drive out “dirty” coal and oil. Using a computable equilibrium model for the Western European electricity and natural gas markets, we examine whether increased extraction of natural gas in Norway reduces global emissions of CO 2. We find that both in the short run and in the long run total emissions are reduced if the additional quantity of natural gas is used in gas power production in Norway. If instead the additional quantity is exported directly, total emissions increase both in the short run and in the long run. However, if modest CO 2-taxes are imposed, increased extraction of natural gas will reduce CO 2 emissions also when the additional natural gas is exported directed. Copyright Kluwer Academic Publishers 2004

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File URL: http://hdl.handle.net/10.1007/s10640-004-9456-3
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Bibliographic Info

Article provided by European Association of Environmental and Resource Economists in its journal Environmental & Resource Economics.

Volume (Year): 29 (2004)
Issue (Month): 4 (December)
Pages: 379-400

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Handle: RePEc:kap:enreec:v:29:y:2004:i:4:p:379-400

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Web page: http://www.springerlink.com/link.asp?id=100263

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Keywords: carbon emissions; electricity; energy markets; equilibrium modelling; natural gas;

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References

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  1. Snorre Kverndokk, 1994. "Depletion of Fossil Fuels and the impact of Global Warming," Discussion Papers 107, Research Department of Statistics Norway.
  2. Aune,F.R. & Golombek,R. & Kittelsen,S.A.C. & ..., 2001. "Liberalising the energy markets of Western Europe : a computable equilibrium model approach," Memorandum 14/2001, Oslo University, Department of Economics.
  3. Felder Stefan & Rutherford Thomas F., 1993. "Unilateral CO2 Reductions and Carbon Leakage: The Consequences of International Trade in Oil and Basic Materials," Journal of Environmental Economics and Management, Elsevier, vol. 25(2), pages 162-176, September.
  4. Golombek, Rolf & Hagem, Cathrine & Hoel, Michael, 1995. "Efficient incomplete international climate agreements," Resource and Energy Economics, Elsevier, vol. 17(1), pages 25-46, May.
  5. Chakravorty, Ujjayant & Roumasset, James & Tse, Kinping, 1997. "Endogenous Substitution among Energy Resources and Global Warming," Journal of Political Economy, University of Chicago Press, vol. 105(6), pages 1201-34, December.
  6. Berg, Elin & Kverndokk, Snorre & Rosendahl, Knut Einar, 2002. "Oil Exploration under Climate Treaties," Journal of Environmental Economics and Management, Elsevier, vol. 44(3), pages 493-516, November.
  7. Henry D. Jacoby & Richard S. Eckaus & A. Denny Ellerman & Ronald G. Prinn & David M. Reiner & Zili Yang, 1997. "CO2 Emissions Limits: Economic Adjustments and the Distribution of Burdens," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 31-58.
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