42 Pages Posted: 4 May 2009
Date Written: April 29, 2009
This paper is the first to assess operational and probabilistic externalities of oil extraction and transportation to Europe on the basis of a comprehensive evaluation of realistic future oil demand-supply scenarios, of the relative relevance of import routes, of the local specificities in terms of critical passages and different burdens and impacts along import routes. The resulting externalities appear reasonable both under the assumption of high future demand and under low demand. Estimates range from 2.32 Euro in 2030 in the low demand scenario to 2.60 Euro in 2010 in the high demand scenario per ton of imported oil.
Keywords: Oil Transport, Externalities Oil Spills, Risk Analysis
JEL Classification: Q32, Q25, Q41, R40
Suggested Citation: Suggested Citation
Bigano, Andrea and Cassinelli, Mariaester and Sferra, Fabio and Guarrera, Lisa and Karbuz, Sohbet and Hafner, Manfred and Markandya, Anil and Navrud, Stale, The External Cost of European Crude Oil Imports (April 29, 2009). FEEM Working Paper No. 13.2009. Available at SSRN: https://ssrn.com/abstract=1396686 or http://dx.doi.org/10.2139/ssrn.1396686
By V. Smith