The seaborne steam coal market changed in recent years. Trade volumes grew dynamically, important players emerged and since 2007 prices increased significantly and remained relatively high since then. In this paper we analyse market equilibria in the years 2006 and 2008 by testing for two...

During 2007 and 2008 steam coal prices soared to unprecedented levels. Since then much has been speculated about the drivers of these price peaks. This paper is concerned with the costs of steam coal allocation in the seaborne market and their influence on the price equilibrium. It presents an...

Die Innovationsfähigkeit der hoch entwickelten Industrieländer ist ihre wichtigste Quelle für Wohlstand und Wachstum. Das DIW Berlin hat in diesem Jahr zum dritten Mal im Auftrag der Deutschen Telekom Stiftung und des Bundesverbandes der Deutschen Industrie (BDI) einen Gesamtindikator für...

Nach Ansicht von Hans-Wilhelm Schiffer, World Energy Council, London, und Thomas Thielemann, RWE Power AG, Köln, sind der verstärkte Ausbau erneuerbarer Energien und die Nutzung von Kohle keine Gegensätze. Kohle sei ein Schlüsselfaktor für die Sicherheit der Energieversorgung und zudem...

Sand als wichtiger Rohstoff ist durchaus begrenzt und kostbar. Deshalb ist ein umsichtiger und nachhaltiger Umgang mit ihm notwendig. Der Beitrag gibt einen kurzen Überblick über die Auswirkungen des exzessiven Sandabbaus, die von Verlusten bei der Biodiversität über negative Klimafolgen bis...

The Hotelling rule argues that the price for a non-renewable resource adjusts to the shadow value of the resource, reflecting its remaining availability. This study provides an empirical test of this hypothesis. It investigates whether the price of crude oil does adjust to unexpected news about...

Several recent articles have analyzed climate policy giving explicit attention to the non-renewable character of carbon resources. In most of this literature the economy is treated as a single unit, which in the context of climate policy seems reasonable to interpret as the whole world. However,...

The Hotelling rule argues that the price for a non-renewable resource adjusts to the shadow value of the resource, reflecting its remaining availability. This study provides an empirical test of this hypothesis. It investigates whether the price of crude oil does adjust to unexpected news about...

In this paper, we use the Global Gas Model to analyze the perspectives and infrastructure needs of the European natural gas market until 2050. Three pathways of natural gas consumption in a future low-carbon energy system in Europe are envisaged: i) a decreasing natural gas consumption, along...