Uncertainty in the availability of natural resources: Fossil fuels, critical metals and biomass

Jamie Speirs, Christophe McGlade and Raphael Slade

Energy Policy, 2015, vol. 87, issue C, 654-664

Abstract: Energy policies are strongly influenced by resource availability and recoverability estimates. Yet these estimates are often highly uncertain, frequently incommensurable, and regularly contested. This paper explores how the uncertainties surrounding estimates of the availability of fossil fuels, biomass and critical metals are conceptualised and communicated. The contention is that a better understanding of the uncertainties surrounding resource estimates for both conventional and renewable energy resources can contribute to more effective policy decision making in the long term. Two complementary approaches for framing uncertainty are considered in detail: a descriptive typology of uncertainties and a framework that conceptualises uncertainty as alternative states of incomplete knowledge. Both have the potential to be useful analytical and communication tools. For the three resource types considered here we find that data limitations, inconsistent definitions and the use of incommensurable methodologies present a pervasive problem that impedes comparison. Many aspects of resource uncertainty are also not commonly captured in the conventional resource classification schemes. This highlights the need for considerable care when developing and comparing aggregate resource estimates and when using these to inform strategic energy policy decisions.

Keywords: Energy resources and reserves; Resource potential; Critical metals; Fossil fuel; Biomass; Uncertainty (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (25)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:87:y:2015:i:c:p:654-664

DOI: 10.1016/j.enpol.2015.02.031

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