This article discusses how different climate policy instruments such as CO2 taxes and renewable energy subsidies affect the profitability of fossil fuel production, given that a fixed global climate target shall be achieved in the long term. Within an intertemporal framework, the model analyses...

We study the interactions between fuel efficiency improvements in the transport sector and the oil market, where the efficiency improvements are policy-induced in certain regions of the world We are especially interested in feedback mechanisms of fuel efficiency such as the rebound effect,...

This paper analyses the markets for fossil fuels given that the limits that the Kyoto Protocol sets on CO2 emissions from Annex B countries extend beyond 2008-2012. To our knowledge we are the first to apply a forward-looking model with endogenous prices for fossil fuels in analysis of specific...

National wealth can be divided into real capital, financial capital, human capital and natural resource wealth. We use the National Accounts measures to illustrate the development of the wealth from 1930 to 1995, with special focus on the contribution from the natural resources. Norway is often...

We apply a multi-equation dynamic econometric model on monthly data to test if the behaviour of OPEC as a whole or different sub-groups of the cartel is consistent with the characteristics of dominant producers on the world crude oil market in the period 1973-2001. Our results indicate that the...

High oil prices are favourable for OPEC in the short run, but may undermine its future revenues. We search for the optimal oil price level for the producer group, using a partial equilibrium model for the oil market. The model explicitly accounts for reserves, development and production in 4...

Using a partial equilibrium model for the global oil market, we search for the producer tax that maximizes the government's discounted tax revenue in Norway. The oil market model explicitly accounts for reserves, development and production in 4 field categories across 15 regions. The oil...

The Arctic has a substantial share of global petroleum resources, but at higher costs than in most other petroleum provinces. Arctic states and petroleum companies are carefully considering the potential for future extraction in the Arctic. This paper studies the oil and gas supply from 6 arctic...

We perform an empirical analysis of the extent to which ongoing technological change through R&D activity has offset the effect of ongoing depletion on the cost of finding additional reserves of oil in eight global regions. We introduce a finding cost function that among other factors depends on...