Template-Type: ReDIF-Article 1.0
Author-Name:  Klaus Mohn
Title:  The gravity of status quo: A review of IEA's World Energy Outlook
Classification-JEL: F0
Pages:  63-82
Volume:  Volume 9
Issue:  Number 1
Year:  2020
Abstract:  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 of fossil fuels. This bias could be accidental, arising from professional conservatism, long-term vintage capital formation, and/or high adjustment costs. However, such a bias may also be also consistent with IEA's stakeholder interests of member nations, oil-prone governance systems, and close connections to the oil and fossil fuel industry.
Handle: RePEc:aen:eeepjl:eeep9-1-Mohn
File-URL: http://www.iaee.org/en/publications/eeeparticle.aspx?id=304
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