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...

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...

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...

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...

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...

This paper studies the effects on fossil fuel prices, extraction paths and petroleum wealth of an international carbon tax on fossil fuel consumption. We present an intertemporal equilibrium model for fossil fuels, where the main focus is on the oil market. The impacts of a global carbon tax of...

This paper addresses the impact of endogenous technology through research and development (R&D) and learning by doing (LbD) on the timing of environmental policy. We develop two models, the first with technological change through R&D and the second with LbD. We study the interaction between...

In this paper we focus on how an international climate treaty will influence the exploration of oil in Non-OPEC countries. We present a numerical intertemporal global equilibrium model for the fossil fuel markets. The international oil market is modelled with a cartel (OPEC) and a competitive...

This paper studies the impacts on Western European CO2 emissions of a reduction in Norwegian gas sales. The impacts are due to changes in energy demand and energy supply, but environmental and political regulations also play an important role. The gas supply model DYNOPOLY is used to analyse the...