Prices Versus Policy: An Analysis of the Drivers of the Fossil Fuel Energy Mix

Jorge Blazquez () and Baltasar Manzano

Discussion Papers from King Abdullah Petroleum Studies and Research Center

Abstract: Understanding how the composition of a country’s energy mix is formed in an environment where greater government involvement is anticipated due to climate change obligations is critical. This paper is part of a project analyzing drivers of the mix and the transition to a future energy mix where renewables will have a key role. This initial study considers the fossil fuel mix in the U.S., Germany and the U.K. by undertaking a macroeconomic analysis of the importance of prices relative to policy in shaping the mix for these economies over the last 35 years.

Keywords: Carbon Emissions; Climate Change; Coal; Dynamic Stochastic General Equilibrium Model (DSGE); Economic Modeling; Energy Mix; Energy Transition; Financial Incentives; Fossil Fuel Policy; Fossil Fuel Price; Market Equilibrium; Natural Gas; Oil; Renewable Energy (search for similar items in EconPapers)
Pages: 38
Date: 2016-10-05
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Persistent link: https://EconPapers.repec.org/RePEc:prc:dpaper:ks-1649-dp044a

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