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Unilateral climate policies and green paradoxes: Extraction costs matter

Under which conditions unilateral tightening of climate policy causes a weak or strong green paradox or even decreases social welfare has recently been studied by Hoel (2011). Hoel assumes that the costs of extracting fossil fuel are linear in output. We extend his model by allowing for progressively increasing and stock dependent extraction costs…

The Future of oil: geology versus technology

The authors discuss and reconcile two diametrically opposed views concerning the future of world oil production and prices. The geological view expects that physical constraints will dominate the future evolution of oil output and prices. The technological view of oil expects that higher oil prices must eventually have a decisive effect on oil output…

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