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Should We Ban Unconventional Oil Extraction to Reduce Global Warming?

Author

Listed:
  • Samuel Carrara

    (FEEM and CMCC)

  • Emanuele Massetti

    (Georgia Institute of Technology, CESIfo and FEEM)

Abstract

The extraction and processing of unconventional oil is more energy intensive and has larger negative environmental impacts than the extraction of conventional oil. The European Union (EU) estimates that oil sands lead to 22% more emissions than conventional oil. The EU is very concerned by the potential climate and environmental impacts and has considered introducing a tax on imported unconventional oil in order to discourage its production. This study shows that a global ban on the use of unconventional oil substantially reduces global carbon dioxide emissions, but the policy is not efficient. A unilateral ban of the EU on unconventional oil has no climate benefits and it is expensive for Europe.

Suggested Citation

  • Samuel Carrara & Emanuele Massetti, 2014. "Should We Ban Unconventional Oil Extraction to Reduce Global Warming?," Working Papers 2014.105, Fondazione Eni Enrico Mattei.
    • Handle: RePEc:fem:femwpa:2014.105
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    References listed on IDEAS

    as
    1. Valentina Bosetti & Carlo Carraro & Marzio Galeotti & Emanuele Massetti & Massimo Tavoni, 2006. "WITCH. A World Induced Technical Change Hybrid Model," Working Papers 2006_46, Department of Economics, University of Venice "Ca' Foscari".
    2. Valentina Bosetti, Carlo Carraro, Marzio Galeotti, Emanuele Massetti, Massimo Tavoni, 2006. "A World induced Technical Change Hybrid Model," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 13-38.
    3. Valentina Bosetti & Emanuele Massetti & Massimo Tavoni, 2007. "The WITCH Model. Structure, Baseline, Solutions," Working Papers 2007.10, Fondazione Eni Enrico Mattei.
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    Cited by:

    1. Lazzaroni, E. & Elsholkami, M. & Martelli, E. & Elkamel, A., 2017. "Design and simulation of a petcoke gasification polygeneration plant integrated with a bitumen extraction and upgrading facility and net energy analysis," Energy, Elsevier, vol. 141(C), pages 880-891.

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    More about this item

    Keywords

    Unconventional Oil; Climate Mitigation; Energy Policy; European Union;
    All these keywords.

    JEL classification:

    • Q35 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Hydrocarbon Resources
    • Q37 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Issues in International Trade
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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