Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2017.05.045 |
Implications for the floor price of oil of aggressive climate policies | |
Harvey, L. D. Danny | |
2017-09-01 | |
发表期刊 | ENERGY POLICY |
ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2017 |
卷号 | 108 |
文章类型 | Article |
语种 | 英语 |
国家 | Canada |
英文摘要 | This paper identifies combinations of technical and behavioral measures that lead to progressively lower global demand for oil, culminating with a scenario that eliminates global oil demand by 2060-in line with the broader requirement that anthropogenic CO2 emissions reach net zero by this date in order to have a 60% chance of staying below a global mean warming of 2 degrees C above the pre-industrial level. The cumulative oil consumption from 2010 to the point when zero oil demand is achieved is compared with a recent oil supply-marginal cost curve. Assuming that oil is consumed in order of increasing extraction cost, the price of oil need not rise significantly above $25-35/bbl. Even substantially less-aggressive efforts to reduce CO2 emissions need not see oil rise substantially above $50/bbl. Under aggressive climate policies, the peak in oil demand occurs before the supply-constrained peak in oil production would occur. This would render expensive oil (> $50/bbl) permanently uneconomic. This includes oil from the Canadian tar sands (currently costing $65-95/bbl for new greenfield developments) and most shale oil (with current average oil-play costs of $48-65/bbl). This in turn implies that governments should not be promoting or permitting development of high cost oil, and also provides a clear warning to private and institutional investors. |
英文关键词 | Oil use scenario Future price of oil Transportation energy efficiency Fuel efficiency standards |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000406725800015 |
WOS关键词 | ENERGY USE ; EFFICIENCY ; SCENARIOS ; PETROLEUM ; VEHICLES ; COST |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/19314 |
专题 | 气候变化 |
作者单位 | Univ Toronto, Dept Geog, 100 St George St, Toronto, ON M5S 3G3, Canada |
推荐引用方式 GB/T 7714 | Harvey, L. D. Danny. Implications for the floor price of oil of aggressive climate policies[J]. ENERGY POLICY,2017,108. |
APA | Harvey, L. D. Danny.(2017).Implications for the floor price of oil of aggressive climate policies.ENERGY POLICY,108. |
MLA | Harvey, L. D. Danny."Implications for the floor price of oil of aggressive climate policies".ENERGY POLICY 108(2017). |
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