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…
Volume 9
The Value of Saving Oil in Saudi Arabia
Saudi Arabia has one of the highest levels of per capita oil consumption in the world, but attempts are now being made by Saudi policymakers to significantly reduce this. Thus, a relevant policy question is what is the value of saving a barrel of oil in Saudi Arabia? The instinctive answer is that the value…
The Synergies Between EU Climate and Renewable Energy Policies-Evidence from Portugal Using Integrated Modelling
In the current debate about the cost-effectiveness of the EU climate and energy policy, the coexistence of greenhouse gas (GHG) emissions reduction and renewable energy targets, as well as the EU Emissions Trading Scheme (ETS), have been subject to some criticism. In this paper we explore the interactions between EU climate and renewable energy targets…
Measuring Energy Efficiency: Accounting for the Hidden Costs of Product Failure
Several recent studies suggest that minimum energy efficiency standards for appliances have resulted in higher-quality products with little or no increase in price. We have conducted case studies for the two major household appliances—clothes washers and refrigerators—subject to Department of Energy (DOE) energy efficiency standards implemented over the 2001 to 2011 period. We identify three…
On the Techno-economic Benefits of a Global Energy Interconnection
The discussion about the benefits of a global energy interconnection is gaining momentum in recent years. The techno-economic benefits of this integration are broadly discussed for the major regions around the world. While there has not been substantial research on the techno-economic benefits, however, some initial results of the global energy interconnection are presented in…
Projecting Energy and Climate for the 21st Century
The growing evidence of severe climate change impacts on human life and the global economy has created the increasing need for an assessment of low-carbon pathways. While the ultimate goal of zero- or near-zero global emissions is clear, the timing and trajectory to achieve low-carbon economic system is not. Projecting energy and climate is getting…