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| HAL: hal-00667118, version 1 |
| DOI: 10.1007/s10584-010-9868-8 |
| Detailed view |  Export this paper |
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| Climatic Change 101, 3-4 (2010) 663-668 |
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| Climate policies as a hedge against the uncertainty on future oil supply |
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| Julie Rozenberg 1Stéphane Hallegatte 1, 2 |
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| (2010-06-25) |
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| 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. |
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| 1: | Centre International de Recherche sur l'Environnement et le Développement (CIRED) |
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Centre de coopération internationale en recherche agronomique pour le développement [CIRAD] : UMR56 – CNRS : UMR8568 – École des Hautes Études en Sciences Sociales [EHESS] – Ecole des Ponts ParisTech – AgroParisTech |
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| 2: | Groupe d'étude de l'atmosphère météorologique (CNRM-GAME) |
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CNRS : URA1357 – INSU – Météo France |
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| Subject | : | Humanities and Social Sciences/Economies and finances |
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| Climate policies – peak oil – hedge – cost – uncertainty. |
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| hal-00667118, version 1 | |
| http://hal-enpc.archives-ouvertes.fr/hal-00667118 | |
| oai:hal-enpc.archives-ouvertes.fr:hal-00667118 | |
| From: Julie Rozenberg | |
| Submitted on: Monday, 6 February 2012 23:44:21 | |
| Updated on: Friday, 17 February 2012 10:17:21 | |
