The substitutability between traditional fuels and modern fuels is essential for examine the possibility of energy transition. The existing literature on China's interfuel substitution is mainly based on the translog function form and often the global curvature is not imposed. There is also a...

I maximize present valued world GDP over the stockpile of petroleum used to contain price shocks administered by OPEC. Long run price elasticity of demand and non-OPEC supply exceed those in the short run, so OPEC profits from sudden, as opposed to gradual, increases in price. These shocks...

Due to low natural gas prices and the environmental advantages of natural gas combined cycle (NGCC) compared to coal, NGCC is replacing coal generators as the inframarginal providers of electricity. However, on average, NGCCs are running only 54 percent of the time. Utilizing excess NGCC...

In 2008, the government of the province of British Columbia broke new ground in North America by introducing a revenue-neutral carbon tax on fossil fuels. The initial rate was set at $10/ton of CO2 which was then increased annually by $5 increments to reach $30/ton in 2012. We focus on monthly...

The demand for motor fuel should decline when its price rises, but how exactly does that happen? Do people drive less, do they drive more carefully to conserve fuel, or do they do both? To answer these questions, we use data from the German Mobility Panel from 2004 to 2019, taking advantage of...

Economists have long noted that improving energy e fficiency could lead to a rebound eff ect, reducing or possibly even eliminating the energy savings from the effi ciency improvement. Yet there are important nuances in the microeconomic theory of the rebound eff ect that have not been explored....

For roughly 150 years, coal mines in the United States were dug and abandoned with little regard to the hazards they would present to health or the environment. Through a listening session and follow-up conversations, we heard from stakeholders in mine reclamation in Pennsylvania, the state with...

Technology policy is the most widespread form of climate policy and is often preferred over seemingly efficient carbon pricing. We propose a new explanation for this observation: gains that predominantly accrue to households with large capital assets and that influence majority decisions in...

This study examines a field experiment in Texas that includes pricing and informational interventions to encourage energy conservation during summer peak load days when the social cost of generation is the highest. We estimate that our critical peak pricing intervention reduces electricity...

Resolving the resource adequacy problem has been usually entrusted to the imposition of some kind of long-term capacity requirements or to forward markets. The Operating Reserve Demand Curve (ORDC), which is linked to short-term market conditions and does not require central planning, has been...