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EXHAUSTIBLE RESOURCES (2) answer(s).
 
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ID:   138557


Coda: and oil we go / Andelman, David A   Article
Andelman, David A Article
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Summary/Abstract Pull up to a gas pump anywhere in Saudi Arabia, and you can fill your tank for 45 cents a gallon. The price hasn’t changed since the King dropped it from 90 cents in 2006. It’s the King who sets the price because the number has little or nothing to do with the price of oil on the world markets. It has more to do with how much it costs to lift each gallon out of the ground and refine it. Because, after all, the Kingdom owns it all.
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2
ID:   167040


Global emissions from crude oil: the effect of oil-deposit heterogeneity / Roberts, Gavin   Journal Article
Roberts, Gavin Journal Article
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Summary/Abstract We simulate future global oil production using a model that accounts for oil-deposit heterogeneity, in order to estimate future emissions and global warming associated with oil development. Oil-deposit heterogeneity causes development costs to increase as the stock of oil deposits is depleted. We calibrate our simulations to best estimates of heterogeneous global development costs. The underlying theory implies, and our simulations confirm, that when oil-deposit heterogeneity is large enough, some crude oil may optimally be left in the ground. Our results indicate that increasing degrees of deposit heterogeneity and higher carbon taxes lead to fewer cumulative emissions from oil by 2100, but that the Paris Agreement climate goals will be difficult to meet.
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