Federal action addressing climate change is likely to emerge either through new legislation or via the U.S. EPA’s authority under the Clean Air Act. The prospect of federal action raises important questions regarding the interconnections between federal efforts and state-level climate policy...

This paper is a follow up of the SECURE-project, financed by the European Commission to study "Security of Energy Considering its Uncertainties, Risks and Economic Implications". It addresses the perspectives of, and the obstacles to a CCTS-roll out, as stipulated in some of the scenarios. Our...

This article studies the likely impact of unconventional gas developments in the US on EU competitiveness. We find, first of all, little evidence for a prosperous unconventional gas development in Europe. Second, the US boom has already a strong impact on both world and European energy markets....

Trading in commodity derivatives on exchange platforms is an instrument to achieve price discovery, better price risk management, besides helping macro-economy with better resource allocation. Since the inception (2003) of national online trading on multi-commodity exchange platforms, the trade...

Energy plays a vital role in the development of any economy and given its unequal distribution trade in energy, especially fossil fuels, is an important component of international trade. In the past, due to its public good characteristics, energy-related services were mostly supplied by the...

We examine the competitive effects of the vertical integration of gasoline refineries and retailers in the U.S. Adapting the first-order condition approach of static oligopoly games to the analysis of vertically related oligopolies, we develop a novel framework for directly evaluating the...

This paper uses a model of intergenerational accounting to simulate the intergenerational distribution of oil wealth in Venezuela. Venezuelan oil production does not seem to follow an optimal extraction path. Nevertheless, this is true if we do not consider what the government does with the...

The mothballing option has been studied in the literature, but mainly in decision theoretic frameworks. This paper looks at it from a strategic point of view and applies it to an incumbent-entrant framework. In particular, based on the recent strategic interactions between OPEC and the shale oil...

Using an online multi-country video-vignette survey experiment, we measure bias against extractive industries and foreign firms in individuals perceptions and preferences related to industrial projects with potential economic benefits and environmental costs. Individuals face a hypothetical...

The identification of the forces that drive oil stock prices is extremely important given the size of the Oil&Gas industry and its links with the energy sector and the environment. In the next decade oil companies will have to deal with international policies to contrast climate change. This...