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sectoral economic costs and benefits of ghg mitigation - IPCC

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Ulrich Bartsch <strong>and</strong> Benito Müller<br />

model, dem<strong>and</strong> <strong>and</strong> supply for oil are equated at the prices shown in the figure. CLIMOX<br />

therefore projects an increase in the price <strong>of</strong> oil from the base year 1995 by 11 per cent in 2010,<br />

<strong>and</strong> 33 per cent in 2020 in real terms. This means, taking an average price <strong>of</strong> oil in 1995 <strong>of</strong> $18<br />

per barrel, the oil price reaches $20 per barrel in 2010, <strong>and</strong> $24 per barrel in 2020, in constant<br />

1995 Dollar.<br />

Figure 1<br />

Fossil Fuel Production, BaU, 1995-2020 (Thous<strong>and</strong> Barrel per Day Oil<br />

Equivalent)<br />

Oil, Coal, Gas Production (in '000 bl oe/d)<br />

'000 barrels oe/d<br />

120000<br />

100000<br />

80000<br />

60000<br />

40000<br />

20000<br />

Oil<br />

COAL<br />

GAS<br />

0<br />

1995 2000 2005 2010 2015 2020<br />

Years<br />

Figure 2 Fossil Fuel Price Indices, BaU, 1995 = 1<br />

Fossil Fuel Prices (1995 = 1)<br />

Price<br />

1.40<br />

1.30<br />

1.20<br />

1.10<br />

1.00<br />

0.90<br />

0.80<br />

0.70<br />

0.60<br />

1995 2000 2005 2010 2015 2020<br />

years<br />

Oil<br />

Coal<br />

Gas<br />

41

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