IDEAS home Printed from https://ideas.repec.org/a/sae/engenv/v15y2004i5p837-852.html
   My bibliography  Save this article

Economic Theory and a Faith-Based Approach to Global Warming

Author

Listed:
  • Ferdinand E. Banks

Abstract

This paper is a non-technical examination of some aspects of global warming that are generally neglected in the academic economics literature. The discussion features several basic issues considered by Goodstein (2004) in his short and easily read book, and particularly the serious consequences that might result from a peaking of the global oil output. The same topic is considered to a lesser extent in my energy economics textbook (2000). In addition I have emphasized that, as David Victor (2001) makes clear, the provisions of the Kyoto Protocol are meaningless unless emissions trading is effective. A key argument here is that since exchange-based financial instruments have been unsatisfactory in the electricity markets, to include those associated with the Nordic Electricity Exchange (Nordpool), it could happen that the trading of exchange-based emission permits will also be ineffectual: For example, the emissions trading program broached by the European Union is likely to result in serious problems for the electricity-intensive industries of countries like Sweden, since one result of that program is that a large increase in electricity prices may be unavoidable. Furthermore, it may also be the true that even if there is no man-made component of global warming, the curtailing of greenhouse gas emissions (by e.g. reducing the use of fossil fuels, and increasing energy efficiencies) could result in sizable economic and social gains .

Suggested Citation

  • Ferdinand E. Banks, 2004. "Economic Theory and a Faith-Based Approach to Global Warming," Energy & Environment, , vol. 15(5), pages 837-852, September.
  • Handle: RePEc:sae:engenv:v:15:y:2004:i:5:p:837-852
    DOI: 10.1260/0958305042886804
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1260/0958305042886804
    Download Restriction: no

    File URL: https://libkey.io/10.1260/0958305042886804?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Ferdinand E. Banks, 2004. "Beautiful and not So Beautiful Minds: An Introductory Essay on Economic Theory and the Supply of Oil," OPEC Energy Review, Organization of the Petroleum Exporting Countries, vol. 28(1), pages 27-62, March.
    2. Ferdinand E Banks, 2001. "Global Finance and Financial Markets:A Modern Introduction," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 4439, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Courage Mlambo, 2022. "Non-Renewable Resources and Sustainable Resource Extraction: An Empirical Test of the Hotelling Rule’s Significance to Gold Extraction in South Africa," Sustainability, MDPI, vol. 14(17), pages 1-17, August.
    2. Ferdinand E. Banks, 2005. "An Unsympathetic Lecture on Economic Theory and the Deregulation of Natural Gas," Energy & Environment, , vol. 16(2), pages 303-319, March.
    3. Stela Cani, 2009. "Resource Abundance, Mineral Funds and Institutional Quality," Economics Discussion Papers em-dp2009-04, Department of Economics, University of Reading.
    4. Ferdinand E. Banks, 2004. "Beautiful and not So Beautiful Minds: An Introductory Essay on Economic Theory and the Supply of Oil," OPEC Energy Review, Organization of the Petroleum Exporting Countries, vol. 28(1), pages 27-62, March.
    5. Ferdinand E. Banks, 2007. "Natural Gas and Some Natural Gas Myths for the 21ST Century," Energy & Environment, , vol. 18(2), pages 293-299, March.
    6. Izabel Rigo Portocarrero, 2012. "Brasil: la sostenibilidad de la agroindustria de la caña de azúcar y las oportunidades de exportación de bioetanol a la Unión Europea," Post-Print halshs-00875174, HAL.
    7. Tobias Kronenberg, 2008. "Should We Worry About The Failure Of The Hotelling Rule?," Journal of Economic Surveys, Wiley Blackwell, vol. 22(4), pages 774-793, September.
    8. Ferdinand E. Banks, 2003. "An introduction to the economics of natural gas," OPEC Energy Review, Organization of the Petroleum Exporting Countries, vol. 27(1), pages 25-63, March.
    9. Brown, Mark T. & Cohen, Matthew J. & Sweeney, Sharlynn, 2009. "Predicting national sustainability: The convergence of energetic, economic and environmental realities," Ecological Modelling, Elsevier, vol. 220(23), pages 3424-3438.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:engenv:v:15:y:2004:i:5:p:837-852. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.