Avoiding investment in fossil fuel assets
نویسندگان
چکیده
Reducing greenhouse gas emissions requires a transformation of capital assets in the economy, especially those for energy supply. This paper explores hypothesis that economically efficient decarbonization occurs when demand fossil fuels declines at same rate as their depreciate. In theory this means new investments fuel are avoided, but without incurring stranded assets. We examine practicality using biophysical economic model US supply system, with an example focused on impacts electric vehicles petroleum chain. specifically address two questions: (1) What market penetration is necessary to avoid petroleum-related assets? (2) How do costs upstream change vehicles? High annual depreciation rates oil refineries (δ = 9.47%) and crude extraction 8.23%) have important results. To investment refining through widespread electrification light-duty vehicles, vehicle stock would need be transformed just 4 or 5 years. Under most scenarios, some pipelines will likely become due low 2.48%). additional wind solar power generation surpass about years during vehicles. Once built, however, last longer, shown by 3.26%).
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ژورنال
عنوان ژورنال: Journal of Industrial Ecology
سال: 2023
ISSN: ['1530-9290', '1088-1980']
DOI: https://doi.org/10.1111/jiec.13401