This paper generalizes Hotelling?s (1931) theory of nonrenewable resources to situations where resource pools and their users are distributed spatially. Extraction and transport costs are assumed to be linear in the rate of extraction, but utilization of each deposit may require a setup cost....

Carbon capture and storage (CCS) seems an appealing option to meet the ambitious objectives of the Paris Agreement. Captured CO 2 emissions can also be injected in active fields to enhance recovery: Carbon capture and utilization (CCU). We study a dynamic model of CCS and CCU of an economy...

We characterize the optimal exploitation paths of two primary energy resources. The first one is a non-renewable polluting resource, the second one a pollution-free renewable resource. Both resources can supply the energy needs of two sectors. Sector 1 is able to reduce the potential carbon...