Despite ambitious climate goals and already substantial stocks of developed fossil energy reserves, development of new fossil energy reserves continues to be high. This raises concerns, as it reinforces the fossil industry’s opportunities and incentives to continue extraction, and may...

Fear for oil exhaustion and its consequences on economic growth has been a driver of a rich literature on exhaustible resources from the 1970s onwards. But our view on oil has remarkably changed and we now worry how we should constrain climate change damages associated with oil and other fossil...

This paper discusses the potential role of fossil natural gas (and other gases) in the process of the energy transformation in Europe on its way to complete decarbonization. Mainstream conventional wisdom has it that natural gas, perhaps in combination with other gases, should maintain an...