Environmental and Natural Resource Economics 2nd ed.

Jonathan M. Harris

Data Updates for 2008

Copyright © 2008 Jonathan M. HarrisCopyright © 2008 Jonathan M. Harris

Notes on Data Updates

• Resource and environmental issues are subject to rapid change. Since publication of the second edition of Environmental and Natural Resource Economics in 2006, there have been a number of significant developments. Many of these are in the area of climate change, leading to a complete update of Chapter 18 on Global Climate Change, available as a module, The Economics of Global Climate Change, at: http://ase.tufts.edu/gdae/education_materials/modules.html This module can be substituted for Chapter 18; new data and figures from the module are in the Powerpoint file Economics of Global Climate Change Figures and Tables at: http://ase.tufts.edu/gdae/publications/textbooks/ENREupdate.html

• Other significant areas of change are resource and energy prices. After a long period of stability or decline, many resource prices turned sharply upward in 2006-2008. Some of these price changes are reflected in this update, along with recent energy use trends and projections.

Sources: U.S. Department of Agriculture, 2008, National Agricultural Statistics Service, Agricultural Prices; USDA, World Agricultural Outlook Board, World Agricultural Supply and Demand Estimates; USDA, Agricultural Marketing Service, Grain and Feed Market News.

Recent Prices for Selected Cereal Crops

0

50

100

150

200

250

1996 1998 2000 2002 2004 2006 2008 2010

Year

Cu

rre

nt

$U

S/T

on

ne

Wheat

Rice

Maize

Recent Price Trends for Selected Minerals

0

0.5

1

1.5

2

2.5

3

3.5

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007est

Year

Pri

ce

($

/lb

)

Copper(DomesticProducer,cathode)

Zinc(DomesticProducers)

Lead (NorthAmericanProducer)

Source: Department of the Interior U.S. Geological Survey, http://minerals.usgs.gov/minerals/pubs/commodity/index.html

International Energy Agency, World Energy Outlook 2007

http://www.worldenergyoutlook.org/

Source: Energy Information Administration (EIA), 2007

http://www.eia.doe.gov/emeu/steo/pub/contents.html

U.S. Oil Production and Consumption, 1950-2007

0

1

2

3

4

5

6

7

8

1940 1960 1980 2000 2020

Year

Petr

ole

um

(b

illio

ns o

f b

arr

els

per

year)

U.S. Consumption

U.S. Production (total)

U.S. Production (crude oil)

Source: U.S. Energy Information Administration: World Crude Oil Priceshttp://tonto.eia.doe.gov/dnav/pet/hist/wtotusaw.htm

2000 Dollars calculated using price indices from the Department of Commerce (Bureau of Economic Analysis).

2008 Price Index calculated from the Bureau of Economic Analysis, National Economic Accounts

Crude Oil Price in 2000 Dollars/Barrel 1998-2008

0

20

40

60

80

100

12019

98

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

Year

Mid

year

Cru

de O

il Pr

ice

in 2

000

Dolla

rs/B

arre

l

Source: Earth Policy Institute, 2007 Eco-Economy Indicators, http://www.earthpolicy.org/Indicators/Solar/2007_data.htm.

World Photovoltaic Production and Cost per Watt

0

20

40

60

80

100

120

1975

1976

1977

1978

1979

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

Year

Co

st

($U

S/W

att

)

0

500

1000

1500

2000

2500

3000

Pro

du

cti

on

(M

eg

aw

att

s) Cost per

Watt 2007U.S.Dollars

AnnualProductionMegawatts

Developed Country Energy Intensity

0.650

0.700

0.750

0.800

0.850

0.900

0.950

1.000

1.050

1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

Year

Btu

per

US

do

llar

(200

0), 1

00-b

ased

United States

France

Germany

United Kingdom

Source: Energy Information Administration, International Energy Annual 2004

Energy Intensities, Selected Countries

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

1990 1992 1994 1996 1998 2000 2002 2004 2006

Year

En

erg

y C

on

sum

pti

on

(B

TU

) p

er d

olla

r G

DP

United States

France

Germany

United Kingdom

India

China

Brazil

Mexico

Indonesia

Source: Energy Information Administration, International Energy Annual 2004

Developing Countries Energy Intensity

0.400

0.500

0.600

0.700

0.800

0.900

1.000

1.100

1.200

1.300

1.400

1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

Year

Btu

per

(20

00)

US

Do

llar,

100

-bas

ed

India

China

Brazil

Mexico

Indonesia

Source: Energy Information Administration, International Energy Annual 2004

Source: Carbon Dioxide Information Analysis Center (CDIAC), http://cdiac.esd.ornl.gov/

Per Capita Fossil-Fuel CO2 Emission Rates (2000)

0

1

2

3

4

5

6

Met

ric

To

ns

of

Car

bo

n

1990-2025 HISTORICAL AND PROJECTED CO2 EMISSIONS

0

5000

10000

15000

20000

25000

30000

35000

40000

45000

1990 1995 2000 2005 2010 2015 2020 2025Year

Mil

lio

n M

etr

ic T

on

s C

arb

on

Dio

xid

eLatin America(Central and SouthAmerica, Mexico)

Africa

Middle East

Emerging Asia

TransitionalEconomies

Other Developed(Canada, Japan,Australia/NewZealand)Western Europe

United States

Source: U.S. Department of Energy, Energy Information Administration, International Energy Outlook 2005 ,

CARBON STABILIZATION SCENARIOS (450 and 550 ppm) Source: Adapted from IPCC, Climate Change 2001: The Scientific Basis, http://www.ipcc.ch/

0

2

4

6

8

10

12

1980 2000 2020 2040 2060 2080 2100 2120

Year

Car

bo

n E

mis

sio

ns

(Bill

ion

To

ns

Car

bo

n)

550ppm

450ppm