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Impact of the Keystone XL pipeline on global oil markets and greenhouse gas emissions

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  • Peter Erickson

    (Stockholm Environment Institute)

  • Michael Lazarus

    (Stockholm Environment Institute)

Abstract

The proposed Keystone XL pipeline to connect Canadian oil sands with US refineries and ports has attracted much controversy. Based on an economic model, this study finds that the biggest emissions impact of the pipeline may be due to its effect of lowering global oil prices and, in turn, increasing global oil consumption (and related emissions). The analysis therefore points to a gap in existing assessments of the Keystone XL project.

Suggested Citation

  • Peter Erickson & Michael Lazarus, 2014. "Impact of the Keystone XL pipeline on global oil markets and greenhouse gas emissions," Nature Climate Change, Nature, vol. 4(9), pages 778-781, September.
    • Handle: RePEc:nat:natcli:v:4:y:2014:i:9:d:10.1038_nclimate2335
    DOI: 10.1038/nclimate2335
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    Cited by:

    1. Johan Gars & Daniel Spiro & Henrik Wachtmeister, 2022. "The effect of European fuel-tax cuts on the oil income of Russia," Nature Energy, Nature, vol. 7(10), pages 989-997, October.
    2. Bergholt, Drago & Røisland, Øistein & Sveen, Tommy & Torvik, Ragnar, 2023. "Monetary policy when export revenues drop," Journal of International Money and Finance, Elsevier, vol. 137(C).
    3. Lassi Ahlvik & Jørgen Juel Andersen & Jonas Hveding Hamang & Torfinn Harding, 2022. "Quantifying supply-side climate policies," Working Papers No 01/2022, Centre for Applied Macro- and Petroleum economics (CAMP), BI Norwegian Business School.
    4. Gilbert, Alexander Q. & Sovacool, Benjamin K., 2018. "Carbon pathways in the global gas market: An attributional lifecycle assessment of the climate impacts of liquefied natural gas exports from the United States to Asia," Energy Policy, Elsevier, vol. 120(C), pages 635-643.
    5. Andrew Bieler & Randolph Haluza-Delay & Ann Dale & Marcia Mckenzie, 2017. "A National Overview of Climate Change Education Policy: Policy Coherence between Subnational Climate and Education Policies in Canada (K-12)," Journal of Education for Sustainable Development, , vol. 11(2), pages 63-85, September.
    6. Johan Gars & Daniel Spiro & Henrik Wachtmeister, 2022. "What is the effect of EU's fuel-tax cuts on Russia's oil income?," Papers 2204.03318, arXiv.org, revised May 2022.
    7. Kühne, Kjell & Bartsch, Nils & Tate, Ryan Driskell & Higson, Julia & Habet, André, 2022. "“Carbon Bombs” - Mapping key fossil fuel projects," Energy Policy, Elsevier, vol. 166(C).
    8. Hill, Jason & Tajibaeva, Liaila & Polasky, Stephen, 2016. "Climate consequences of low-carbon fuels: The United States Renewable Fuel Standard," Energy Policy, Elsevier, vol. 97(C), pages 351-353.
    9. Taran Fæhn, Cathrine Hagem, Lars Lindholt, Ståle Mæland, and Knut Einar Rosendahl, 2017. "Climate policies in a fossil fuel producing country demand versus supply side policies," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1).
    10. Henrik Wachtmeister & Johan Gars & Daniel Spiro, 2022. "Quantity restrictions and price discounts on Russian oil," Papers 2212.00674, arXiv.org, revised Dec 2022.
    11. Luke Kemp, 2017. "Limiting the climate impact of the Trump administration," Palgrave Communications, Palgrave Macmillan, vol. 3(1), pages 1-5, December.
    12. Jiang, Suqin & Chen, Zun & Shan, Li & Chen, Xinyu & Wang, Haikun, 2017. "Committed CO2 emissions of China's coal-fired power generators from 1993 to 2013," Energy Policy, Elsevier, vol. 104(C), pages 295-302.
    13. Mark Jaccard & James Hoffele & Torsten Jaccard, 2018. "Global carbon budgets and the viability of new fossil fuel projects," Climatic Change, Springer, vol. 150(1), pages 15-28, September.
    14. Peter Erickson & Michael Lazarus, 2018. "Would constraining US fossil fuel production affect global CO2 emissions? A case study of US leasing policy," Climatic Change, Springer, vol. 150(1), pages 29-42, September.

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