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Prepress Content: The following article is a preprint of a scientific paper that has completed the peer-review process and been accepted for publication within Economics of Energy & Environmental Policy.
While the International Association for Energy Economics (IAEE) makes every effort to ensure the veracity of the material and the accuracy of the data therein, IAEE is not responsible for the citing of this content until the article is actually printed in a final version of Economics of Energy & Environmental Policy. For example, preprinted articles are often moved from issue to issue affecting page numbers, and actual volume and issue numbers. Care should be given when citing Economics of Energy & Environmental Policy preprint articles.

Economics of Energy & Environmental Policy
Volume 8, Number 2



The gravity of status quo: A review of IEA’s World Energy Outlook

Klaus Mohn

DOI: 10.5547/2160-5890.8.2.kmoh
View Abstract

Abstract:
This paper reviews the methodology and methods behind IEA's World Energy Outlook (WEO) and offers a critical assessment of key assumptions and projections, focusing in particular on energy and the macro economy, technological change, and investment in new renewable energy. I argue that IEA's World Energy Outlook suffers from a status quo bias in favor of fossil fuels. This bias could be accidental, arising from professional conservatism, long-term vintage capital formation, and/or high adjustment costs. However, such a bias may also be also consistent with IEA's stakeholder interests of member nations, oil-prone governance systems, and close connections to the oil and fossil fuel industry.






Gas markets in the European Union: Testing resilience

Henry Bartelet and Machiel Mulder

DOI:
No Abstract






The Environmental Footprint of Gas Transportation: LNG vs. Pipeline

Katerina Shaton, Arild Hervik, and Harald M. Hjelle

DOI:
No Abstract






Competitiveness of Energy-Intensive Industries in Europe: The Crisis of the Oil Refining Sector between 2008 and 2013

Robert Marschinski, Jesus Barreiro-Hurle, and Ruslan Lukach

DOI: 10.5547/2160-5890.8.2.rmar
View Abstract

Abstract:
After the so-called 'golden age' of refining between the years 2005 and 2008, total or partial closures of 13 EU oil refineries from 2009 to 2013 reduced the EU's total refining capacity by about 10%. This paper analyses the drivers behind this crisis, using industry data on performance and cost structure collected at the refinery level and covering the years 2000 to 2012. During this period EU refiners lost ground in terms of net margins, which fell from above to below the average of their non-EU competitors. Our results show that up to 90% of this loss was driven by refineries' energy costs, which grew almost twice as much in Europe than in other global refining regions. Further analysis indicates that this was not the result of increased energy intensity but of increasing unit energy costs. The remaining 10% of the total competitiveness loss can be explained by the relative worsening of EU refineries' utilization rates, reflecting the decline in demand for oil products-in particular gasoline-that occurred in the EU. Environmental and energy policies have likely contributed to this demand side effect, but its competitiveness impact remains of minor importance compared to the energy cost surge.




The Green Paradox, A Hotelling Cul de Sac

Robert D. Cairns and James L. Smith

DOI:
No Abstract






The Value of Saving Oil in Saudi Arabia

Jorge Blazquez, Lester C. Hunt, Baltasar Manzano, and Axel Pierru

DOI:
No Abstract