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- W2742147079 abstract "Despite the inextricable link between oil scarcity and climate change, the interplay between these two issues is paradoxically an underworked area. This article uses a global energy-economy model to address the link between future oil supply and climate change and assesses in a common framework both the costs of climate policies and oil scarcity. It shows that, in the context of a limited and uncertain amount of ultimately recoverable oil resources, climate policies reduce the world vulnerability to peak oil. Climate policies, therefore, appear as a hedging strategy against the uncertainty on oil resources, in addition to their main aim of avoiding dangerous climate change. This co-benefit is estimated at the net present value of US$11,500 billion. Eventually, reducing the risk of future economic losses due to oil scarcity may appear as a significant side-benefit of climate policies to many decision-makers." @default.
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- W2742147079 date "2010-06-25" @default.
- W2742147079 modified "2023-10-07" @default.
- W2742147079 title "Climate policies as a hedge against the uncertainty on future oil supply" @default.
- W2742147079 hasPublicationYear "2010" @default.
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