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Factors influencing future oil and gas prospects in the Arctic

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  • Harsem, Øistein
  • Eide, Arne
  • Heen, Knut

Abstract

The article explores oil and natural gas development in the Arctic. While several commentators have argued that an increase in Arctic petroleum production in the years to come will follow directly from an increased demand for energy, our study finds that oil and natural gas production in the Arctic is dependent on a range of variables. By using climate-driven changes as a baseline, we examine spill-over effects and conditions that are important for further Arctic hydrocarbon production. Using the available literature from different scientific fields, this article provides a broad and nuanced perspective on the much debated question of whether or not the Arctic will become a region driven by oil and gas production.

Suggested Citation

  • Harsem, Øistein & Eide, Arne & Heen, Knut, 2011. "Factors influencing future oil and gas prospects in the Arctic," Energy Policy, Elsevier, vol. 39(12), pages 8037-8045.
  • Handle: RePEc:eee:enepol:v:39:y:2011:i:12:p:8037-8045 DOI: 10.1016/j.enpol.2011.09.058
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    References listed on IDEAS

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    1. Nir Jaimovich & Sergio Rebelo, 2009. "Can News about the Future Drive the Business Cycle?," American Economic Review, American Economic Association, vol. 99(4), pages 1097-1118, September.
    2. Chevillon, Guillaume & Rifflart, Christine, 2009. "Physical market determinants of the price of crude oil and the market premium," Energy Economics, Elsevier, pages 537-549.
    3. James D. Hamilton, 2009. "Causes and Consequences of the Oil Shock of 2007-08," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 40(1 (Spring), pages 215-283.
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    Cited by:

    1. repec:eco:journ2:2017-03-04 is not listed on IDEAS
    2. Botelho, Tatiana & Magrini, Alessandra & Schaeffer, Roberto, 2014. "Plumbing the depths: Utilizing O&G reserve profiles to develop forward-looking risk assessments for exploration and production activities," Energy Policy, Elsevier, vol. 69(C), pages 489-500.
    3. Frederiksen, Anders & Kadenic, Maja Due, 2016. "Mining in Arctic and Non-Arctic Regions: A Socioeconomic Assessment," IZA Discussion Papers 9883, Institute for the Study of Labor (IZA).
    4. Justin Leroux & Daniel Spiro, 2017. "Leading the Unwilling: Unilateral Strategies to Prevent Arctic Oil Exploration," CESifo Working Paper Series 6629, CESifo Group Munich.
    5. Mendes, Pietro A.S. & Hall, Jeremy & Matos, Stelvia & Silvestre, Bruno, 2014. "Reforming Brazil׳s offshore oil and gas safety regulatory framework: Lessons from Norway, the United Kingdom and the United States," Energy Policy, Elsevier, vol. 74(C), pages 443-453.
    6. Schaeffer, Roberto & Szklo, Alexandre Salem & Pereira de Lucena, André Frossard & Moreira Cesar Borba, Bruno Soares & Pupo Nogueira, Larissa Pinheiro & Fleming, Fernanda Pereira & Troccoli, Alberto & , 2012. "Energy sector vulnerability to climate change: A review," Energy, Elsevier, vol. 38(1), pages 1-12.

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    Keywords

    Arctic; Oil; Gas;

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