The exploration of unconventional shale energy reserves and the extensive use of hydraulic fracturing during well stimulation have raised concerns about the potential effects of unconventional oil and gas extraction (UOG) on the environment. Most accounts of groundwater contamination have focused primarily on the compositional analysis of dissolved gases to address whether UOG activities have h...

We present a search-based model of the interbank money market and monetary policy implementation. Banks are subject to reserve requirements and the central bank tenders reserves. Interbank payments redistribute holdings and banks trade with each other in a decentralized (over-the-counter) market. The central bank provides standing facilities where banks can either deposit surpluses or borrow to...

The fact that the Fifth Assessment Report (AR5) of the Intergovernmental Panel on Climate Change (IPCC) states that natural gas power technology is a ‘bridge technology’ does not necessarily imply that shale gas will play any significant role in curbing GHG emissions. Indeed, we note that the median scenarios presented in AR5 for stabilising atmospheric concentrations between 430ppm and 530ppm ...

This paper discusses conventional and unconventional monetary policies in a dynamic small open economy model with financial frictions. In the model, financial intermediaries or banks borrow from the world market and lend to domestic households. The external debt of banks is limited by a multiple of their equity; in turn, households hold equity in banks subject to a limit, reflecting domestic fr...

Unconventional oils mainly heavy oils, extra heavy oils and bitumens represent a significant share of the total oil world reserves. Oil companies have expressed interest in unconventional oil as alternative resources for the energy supply. These resources are composed usually of viscous oils and, for this reason, their use requires additional efforts to guarantee the viability of the oil recove...

The worldwide global demand for oil has grown by 150% since 1965 and 20% in the past 20 years to the current 80 million barrels per day, and is projected to grow by 50% more in the next 20 years [1]. The growth in global demand for oil comes at a time when the supply from relatively cheap conventional sources is declining, and reserves are not being replaced with new discoveries [2]. However, t...

Ecosystems at high latitudes are highly dynamic, influenced by a multitude of large-scale disturbances. Due to global change processes these systems may be expected to be particularly vulnerable, affecting the sustained production of renewable wood resources and abundance of plants and animals on which local cultures depend. In this paper, we assess the implications of new understandings of hig...

In this paper, we discuss potential developments of the world natural gas industry at the horizon of 2030. We use the World Gas Model (WGM), a dynamic, strategic representation of world natural gas production, trade, and consumption between 2005 and 2030. We specify a “base case” which defines the business-as-usual assumptions based on forecasts of the world energy markets. We then analyze the ...