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Depletion of Petroleum Reserves and Oil Price trends

Author

Listed:
  • Denis Babusiaux

    (IFPEN - IFP Energies nouvelles)

  • Pierre-René Bauquis

    (IFPEN - IFP Energies nouvelles)

Abstract

This document is the report of the "Petroleum" working group from the French Academy of Technology, coordinated by the authors in the framework of the Energy and Climate Change Commission chaired by Gilbert Ruelle. Firstly, it present a synthesis of the different points of view about reserves and the peak of world oil production (optimists, pessimists and official organizations). Secondly, it analyzes the mechanisms of oil price formation focusing on the long term without addressing the question of short term market behaviour. The last section is devoted to possible scenarios of the evolution of production profiles and prices in the medium and long term.

Suggested Citation

  • Denis Babusiaux & Pierre-René Bauquis, 2007. "Depletion of Petroleum Reserves and Oil Price trends," Working Papers hal-02469371, HAL.
    • Handle: RePEc:hal:wpaper:hal-02469371
    Note: View the original document on HAL open archive server: https://ifp.hal.science/hal-02469371
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    References listed on IDEAS

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    1. Robert M. Solow, 1974. "The Economics of Resources or the Resources of Economics," Palgrave Macmillan Books, in: Chennat Gopalakrishnan (ed.), Classic Papers in Natural Resource Economics, chapter 12, pages 257-276, Palgrave Macmillan.
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    3. Giraud, Pierre-Noel, 1995. "The equilibrium price range of oil : Economics, politics and uncertainty in the formation of oil prices," Energy Policy, Elsevier, vol. 23(1), pages 35-49, January.
    4. Harold Hotelling, 1931. "The Economics of Exhaustible Resources," Journal of Political Economy, University of Chicago Press, vol. 39(2), pages 137-137.
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    Cited by:

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    2. Banal-Estanol, A. & Eckhause, J. & Massol, O., 2015. "Incentives for early adoption of carbon capture technology: further considerations from a European perspective," Working Papers 15/03, Department of Economics, City St George's, University of London.
    3. Dupoux, Marion, 2019. "The land use change time-accounting failure," Ecological Economics, Elsevier, vol. 164(C), pages 1-1.
    4. Anthony Paris, 2016. "The Effect of Biofuels on the Link between Oil and Agricultural Commodity Prices: A Smooth Transition Cointegration Approach," EconomiX Working Papers 2016-5, University of Paris Nanterre, EconomiX.
    5. Castelo Branco, David A. & Szklo, Alexandre S. & Schaeffer, Roberto, 2010. "Co2e emissions abatement costs of reducing natural gas flaring in Brazil by investing in offshore GTL plants producing premium diesel," Energy, Elsevier, vol. 35(1), pages 158-167.
    6. Emmanuel Hache, 2018. "Do renewable energies improve energy security in the long run?," International Economics, CEPII research center, issue 156, pages 127-135.
    7. Hebat-Allah El-Deken & Noran Farag & Noha Hamdy, 2011. "Does Non-renewable Energy Utilization in Egypt Generate Net Gain or Net Loss?," Working Papers 585, Economic Research Forum, revised 05 Jan 2011.

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