2016/10/24 by Meneguzzo, Francesco, Ciriminna, Rosaria, Albanese, Lorenzo +1
#FOS: Physical sciences #Physics and Society (physics.soc-ph)
paper · doi:10.48550/arxiv.1610.07298
Oil prices above 100/barrel values have proven unaffordable for the world economy, while lower prices have proven unaffordable for unconventional oil sources, resulting in a frantic price swing since 2007-2008. We identify and combine for the first time the competing dynamics of oil price, economic growth and extraction costs in a single model aiming to evaluate the near-term consequences of these dynamics onto forthcoming oil supply. Policies able to cope with the consequences of the resulting energy scenario are suggested in the conclusions.