Views on peak oil and its relation to climate change policy
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.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Tsoskounoglou, Miltos & Ayerides, George & Tritopoulou, Efi, 2008. "The end of cheap oil: Current status and prospects," Energy Policy, Elsevier, vol. 36(10), pages 3797-3806, October.
- Kolstad, Ivar & Wiig, Arne, 2009. "It's the rents, stupid! The political economy of the resource curse," Energy Policy, Elsevier, vol. 37(12), pages 5317-5325, December.
- Reyer Gerlagh & Bob van der Zwaan, 2006. "Options and Instruments for a Deep Cut in CO2 Emissions: Carbon Dioxide Capture or Renewables, Taxes or Subsidies?," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 25-48.
- Slaibi, Ahmad & Chapman, Duane & Daouk, Hazem, 2005. "An Econometric Evaluation of A Geopolitical Theory of Oil Price Behavior," Working Papers 127131, Cornell University, Department of Applied Economics and Management.
- Roberto F. Aguilera & Roderick G. Eggert & Gustavo Lagos C.C. & John E. Tilton, 2009. "Depletion and the Future Availability of Petroleum Resources," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 141-174.
- Hansson, Anders & Bryngelsson, Mårten, 2009. "Expert opinions on carbon dioxide capture and storage--A framing of uncertainties and possibilities," Energy Policy, Elsevier, vol. 37(6), pages 2273-2282, June.
- Campbell, C.J., 2006. "The Rimini Protocol an oil depletion protocol: Heading off economic chaos and political conflict during the second half of the age of oil," Energy Policy, Elsevier, vol. 34(12), pages 1319-1325, August.
- Odell, Peter R., 1992. "Global and regional energy supplies Recent fictions and fallacies revisited," Energy Policy, Elsevier, vol. 20(4), pages 284-296, April.
- Hallock, John L. & Tharakan, Pradeep J. & Hall, Charles A.S. & Jefferson, Michael & Wu, Wei, 2004. "Forecasting the limits to the availability and diversity of global conventional oil supply," Energy, Elsevier, vol. 29(11), pages 1673-1696.
- Maggio, G. & Cacciola, G., 2009. "A variant of the Hubbert curve for world oil production forecasts," Energy Policy, Elsevier, vol. 37(11), pages 4761-4770, November.
- 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.
- Kjärstad, Jan & Johnsson, Filip, 2009. "Resources and future supply of oil," Energy Policy, Elsevier, vol. 37(2), pages 441-464, February.
- Kemp, Murray C & Long, Ngo Van, 1980. "On Two Folk Theorems Concerning the Extraction of Exhaustible Resources," Econometrica, Econometric Society, vol. 48(3), pages 663-673, April.
- Robert W. Fri, 2003. "The Role of Knowledge: Technological Innovation in the Energy System," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 51-74.
- Watkins, G.C., 2006. "Oil scarcity: What have the past three decades revealed?," Energy Policy, Elsevier, vol. 34(5), pages 508-514, March.
- Gibbins, Jon & Chalmers, Hannah, 2008. "Carbon capture and storage," Energy Policy, Elsevier, vol. 36(12), pages 4317-4322, December.
- de Almeida, Pedro & Silva, Pedro D., 2009. "The peak of oil production--Timings and market recognition," Energy Policy, Elsevier, vol. 37(4), pages 1267-1276, April.
- Norgaard, Richard B., 1990. "Economic indicators of resource scarcity: A critical essay," Journal of Environmental Economics and Management, Elsevier, vol. 19(1), pages 19-25, July.
- Amigues, J-P & Favard, P. & Gaudet, G. & Moreaux, M, 1996.
"On the Optimal Order of Natural Resource Use When the Capacity of the Inexhaustible Substitute is Limited,"
Cahiers de recherche
9628, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- Amigues, Jean-Pierre & Favard, Pascal & Gaudet, Gerard & Moreaux, Michel, 1998. "On the Optimal Order of Natural Resource Use When the Capacity of the Inexhaustible Substitute Is Limited," Journal of Economic Theory, Elsevier, vol. 80(1), pages 153-170, May.
- Amigues, J.-P. & Favard, P. & Gaudet, G. & Moreaux, M., 1996. "On The Optimal Order of Natural Resourse Use When the Capacity of the Inexhaustible Substitute is Limited," Papers 96.431, Toulouse - GREMAQ.
- Amigues, J-P & Favard, P & Gaudet, G & Moreaux, M, 1996. "On the Optimal Order of Natural Resource Use When the Capacity of the Inexhaustible Substitute is Limited," Cahiers de recherche 9628, Universite de Montreal, Departement de sciences economiques.
- Holland, Stephen P., 2003. "Extraction capacity and the optimal order of extraction," Journal of Environmental Economics and Management, Elsevier, vol. 45(3), pages 569-588, May.
- Lynch, Michael C., 1999. "Oil scarcity, Oil crises, and alternative energies -- don't be fooled again," Applied Energy, Elsevier, vol. 64(1-4), pages 31-53, September.
- Tilton, John E., 1996. "Exhaustible resources and sustainable development : Two different paradigms," Resources Policy, Elsevier, vol. 22(1-2), pages 91-97.
- Kaufmann, Robert K. & Shiers, Laura D., 2008. "Alternatives to conventional crude oil: When, how quickly, and market driven?," Ecological Economics, Elsevier, vol. 67(3), pages 405-411, October.
- Brandt, Adam R., 2007. "Testing Hubbert," Energy Policy, Elsevier, vol. 35(5), pages 3074-3088, May.
- Peter R. Odell, 1994. "World Oil Resources, Reserves and Production," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 89-114.
- Verbruggen, Aviel, 2009. "Beyond Kyoto, plan B: A climate policy master plan based on transparent metrics," Ecological Economics, Elsevier, vol. 68(12), pages 2930-2937, October.
- Bentley, R. W., 2002. "Global oil & gas depletion: an overview," Energy Policy, Elsevier, vol. 30(3), pages 189-205, February.
- Brecha, Robert J., 2008. "Emission scenarios in the face of fossil-fuel peaking," Energy Policy, Elsevier, vol. 36(9), pages 3492-3504, September.
- Bentley, R.W. & Mannan, S.A. & Wheeler, S.J., 2007. "Assessing the date of the global oil peak: The need to use 2P reserves," Energy Policy, Elsevier, vol. 35(12), pages 6364-6382, December.
- 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 1201-1234, December.
- Morris A. Adelman, 1993. "Modelling World Oil Supply," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 1-32.
When requesting a correction, please mention this item's handle: RePEc:eee:enepol:v:38:y:2010:i:10:p:5572-5581. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.