• Energy Research
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The crucial role evaluation can play in the co-development of project design and its implementation will be addressed through the analysis of a case study, the Green Communities (GC) project, funded by the Italian Ministry of Environment within the EU Interregional Operational Program (2007-2013) "Renewable Energy and Energy Efficiency". The project's broader goals included an attempt to trigger a change in Italian local development strategies, especially for mountain and inland areas, which would be tailored to the real needs of communities, and based on a sustainable exploitation and management of the territorial assets. The goal was not achieved, and this paper addresses the issues of how GC could have been more effective in fostering a vision of change, and which design adaptations and evaluation procedures would have allowed the project to better cope with the unexpected consequences and resistances it encountered. The conclusions drawn are that projects should be conceived, designed and carried out as dynamic systems, inclusive of a dynamic and engaged evaluation enabling the generation of feedbacks loops, iteratively interpreting the narratives and dynamics unfolding within the project, and actively monitoring the potential of various relationships among project participants for generating positive social change.

Abstract This study aims to assess the efficiency of the fossil fuel taxation scheme currently in effect in Switzerland. To this end, the concept of implicit CO2 prices is introduced, based on which prices for different fossil fuel uses are derived. Implicit CO2 prices are defined as the difference between actual prices paid by consumers and efficient domestic fuel prices. Efficient domestic fuel prices, in turn, consist of private production costs, a uniform value added tax and only local external costs, not including external costs due to CO2 emissions and global climate change. The resulting prices differ substantially, which suggests that there is considerable cost-saving potential in reducing CO2 emissions in Switzerland. For passenger cars and air traffic, the implicit prices are negative. For these uses, higher fuel charges would therefore be beneficial from a purely domestic perspective, i.e., without considering the negative repercussions of global warming.

Abstract Numerous countries have set up strategic petroleum reserves (SPRs) in response to oil disruptions since 1970. While numerous studies model such programs, we found few that evaluate SPRs' historical performance. Thus, we evaluate the U.S. SPR's performance by comparing actual real costs with estimated real benefits. From 1976 to 2014, the real U.S. SPR cost was about $219 billion real (2014$) dollars, whereas the real benefit was only $122 billion. Sensitivity testing suggests such negative net benefits are qualitatively robust. However, if world oil demand is extremely inelastic to oil price or GDP is elastic enough to oil price shocks, the estimated U.S. SPR net benefit is positive. Sensitivity testing around total real costs and benefits range from $380 billion to $80 billion. Limited testing of IEA coordinated drawdowns suggests that total U.S. benefits jump from $122 billion to more than $400 billion putting the SPR strongly in the black. Limited testing of private sector inventory changes was more disappointing and tentatively suggests private activities may at times have offset some of the government drawdowns. With 20-20 hindsight, initial experimentation found that better management could have significantly enhanced the value of the U.S. SPR, especially for the 1990-91 disruption.

Abstract The paper aims to discuss the speedy spread of the use of optical fibres or optical light films lighting systems, as an alternative to classical lighting systems in buildings. A series of architectural projects has been selected to provide more evidence about advantages of these new lighting equipement, in terms of thermal and lighting comfort together with low cost energy. As a matter of fact their efficiency has even lead some professionals to use them in some buildings after suppression of the initial lighting system. The fact that the optional fibres or optical light films are used in various spaces has enabled to hope for a development of their applications in interiors and especially public places, in hot contries where heat output from traditional lighting bulbs is more likely to provide discomfort and hence where requirement for air conditionning is unavoidably maximised.

Much of New South Wales and southern Queensland suffered from extreme drought from 2017 to 2019. This study models drought and bushfires impacts using VU‐TERM, a multi‐regional, dynamic CGE model. Prolonged drought pushed national real GDP to 0.7 per cent or more below base in 2018–2019 and 2019–2020. NSW’s real GDP fell relative to forecast by 1.1 per cent or $6.9 billion in 2018–2019 and 1.6 per cent or $10.2 billion in 2019–2020. These impacts reflect a severe diminution of farm output, given that agriculture accounts for around 1.6 per cent of NSW’s income. Bushfires exacerbated 2019–2020 losses. We assume that there is a full recovery in seasonal conditions in 2020. However, prolonged drought and bushfire destruction deplete farm capital through depressed investment and diminished herd numbers. Consequently, the income earning capacity of farms in recovery remains below that of a no drought base. The net present value of the national welfare loss is $63 billion, split between $53 billion in losses from drought and $10 billion from bushfires. The latter excludes any valuation of human lives lost, flora, fauna or forestry destruction. In the longer term, adaptation and policy responses will need to reflect the expectation of increased frequency of adverse climatic events.

Abstract This paper studies the impact of oil price changes on economic growth in Saudi Arabia to measure its dependency on the crude oil sector. To this end, an On/Off threshold regression is specified to allow the oil/GDP relationship to be asymmetric, nonlinear, and time-varying with regard to the business cycle phases. Further, we empirically test the diversification hypothesis put forward by the National Transformation Program (Saudi Vision 2030) to check whether the equity-energy investment initiative could boost economic growth in Saudi Arabia. First, our findings confirm the contribution of the oil sector to economic growth in the country, but also show that the oil/Saudi economy relationship exhibits nonlinearity and threshold effects, as the impact of oil price varies per regime depending on the state of the market. Second, in line with the Vision 2030 expectations, we are in favor of transforming the economy and opening its equity market. We also quantify a positive and significant impact of equity investment on the Saudi Arabian economy. Further, this diversification route will stimulate a beneficial oil effect on the real economy.

AbstractEmbedding sustainability in day‐to‐day operations necessitates employees' proactiveness beyond compliance with standardised management practices. Exchanging information on safety and environmental issues is acknowledged as a component of workers' proactive behaviours for sustainability embeddedness, which is hardly promoted by codified procedures. Accordingly, identifying leverages to stimulate information exchange is a primary objective for academics and practitioners. The study investigates drivers of information exchange on safety and environmental near misses by examining five situation‐related antecedents: rewards/reinforcements, organisational boundaries, social proactiveness, stakeholder salience and connectedness. The study relies on a mixed method approach, by combining social network analysis and a questionnaire survey conducted among four large Italian companies. The findings partially support the hypothesis of the study, highlighting rewards/reinforcements and connectedness as relevant antecedents of information exchange, while organisational boundaries only partially relate with information exchange. Surprisingly, stakeholder salience and social proactiveness do not emerge as significant drivers of information exchange. The study contributes to the debate on extra‐role pro‐sustainability behaviours and provides implications for managerial practice.

Abstract This article analyzes the CFTC's Disaggregated Commitments of Traders (DCOT) Report to get more insights into the behavior of different traders during the 2008 oil bubble. The analysis shows that: (1) the Money Manager category perfectly played the oil bubble, got in early and started selling shortly before the bubble peak; (2) the Producer/Merchant/Processor/User category and the Nonreportable category were covering their short positions into the peak of the bubble; (3) the Swap/Dealer category benefited while the price of oil was rising, but incurred heavy losses as the price of oil collapsed; (4) we find no indications of speculation by any group of traders via the positive feedback trading or rational destabilization; and (5) we do, however, criticize the commercial hedgers for failing to arbitrage the soaring oil prices in 2008.

Abstract Natural gas is an important source of energy in the global economy, hence understanding the drivers of its prices is of significant interest for economic agents. This paper investigates the role of structural shocks for the dynamics of the U.S. natural gas market within the Bayesian Structural Vector Autoregression framework applied by Baumeister and Hamilton (2019a, AER), to the crude oil market. This approach provides clear intuition for the identification strategy and allows us to correctly estimate the short-term price elasticity of natural gas supply and demand. Our results indicate that the former is low, whereas the latter is higher than the average estimate in the literature. We also show that market specific demand shocks explain a dominant fraction of natural gas prices variability, while the contribution of supply, aggregate economic activity and inventory shocks is important only during specific market events such as the recent outbreak of the COVID-19 pandemic. Finally, we illustrate how changes in supply in the era of shale gas revolution contributed to the dynamics of natural gas prices.