Climate Policy And Petroleum Depletion

Neha Khanna and Duane Chapman

No 127811, Working Papers from Cornell University, Department of Applied Economics and Management

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.

Keywords: Agricultural and Food Policy; Research and Development/Tech Change/Emerging Technologies (search for similar items in EconPapers)
Pages: 49
Date: 1997-01
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:cudawp:127811

DOI: 10.22004/ag.econ.127811

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