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Climate Policy And Petroleum Depletion

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  • Khanna, Neha
  • Chapman, Duane

Abstract

This paper extends the Nordhaus DICE model to include the demands for coal, oil, and natural gas. These demands depend on own price, prices of substitute fuels, per capita income, and population. An augmented Hotelling model captures the effect of depleting oil resources. A methodological advantage of including price, income, and population sensitive energy demand functions is that it allows substitution possibilities in the 'production' of emissions. Furthermore, it allows the analysis of energy tax regimes in an environment of growing world population and income, non-decreasing energy and carbon intensity, and declining petroleum availability.

Suggested Citation

  • Khanna, Neha & Chapman, Duane, 1997. "Climate Policy And Petroleum Depletion," Working Papers 127811, Cornell University, Department of Applied Economics and Management.
    • Handle: RePEc:ags:cudawp:127811
    DOI: 10.22004/ag.econ.127811
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    File URL: https://ageconsearch.umn.edu/record/127811/files/Cornell_Dyson_wp9701.pdf
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    References listed on IDEAS

    as
    1. Stephen C Peck & Thomas J. Teisberg, 1992. "CETA: A Model for Carbon Emissions Trajectory Assessment," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 55-78.
    2. Robert Summers & Alan Heston, 1991. "The Penn World Table (Mark 5): An Expanded Set of International Comparisons, 1950–1988," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(2), pages 327-368.
    3. Manne, Alan & Mendelsohn, Robert & Richels, Richard, 1995. "MERGE : A model for evaluating regional and global effects of GHG reduction policies," Energy Policy, Elsevier, vol. 23(1), pages 17-34, January.
    4. Drennen, Thomas E & Erickson, Jon D & Chapman, Duane, 1996. "Solar power and climate change policy in developing countries," Energy Policy, Elsevier, vol. 24(1), pages 9-16, January.
    5. Neha Khanna & Duane Chapman, 1996. "Time Preference, Abatement Costs, And International Climate Policy: An Appraisal Of Ipcc 1995," Contemporary Economic Policy, Western Economic Association International, vol. 14(2), pages 56-66, April.
    6. Duane Chapman & Vivek Suri & Steven G. Hall, 1995. "Rolling Dice For The Future Of The Planet," Contemporary Economic Policy, Western Economic Association International, vol. 13(3), pages 1-9, July.
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    Cited by:

    1. Agras, Jean & Chapman, Duane, 1997. "Is There an Environmental Kuznets Curve for Energy? An Econometric Analysis," Working Papers 127834, Cornell University, Department of Applied Economics and Management.

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