A couple of weeks ago, I wrote a short piece for the newspaper about a talk by David Rutledge on his analysis of the peak oil-climate linkage:
Now Andy Dessler has taken the discussion a bit farther, with a nice discussion at Nature Climate Feedback:
There is an emerging view among some experts that recoverable fossil-fuel reserves are far smaller than previously thought. If so, the Intergovernmental Panel on Climate Change’s (IPCC) highest emissions scenarios could be unrealistically high, thus limiting the worst-case climate change during the 21st century. This view of a constrained fossil-fuel supply points to a potential convergence of thinking about policies and actions needed to address the seemingly divergent problems of energy supply and climate change.
There is much to think about here, because if Dessler and Rutledge are right, there is a linkage between energy and climate policies that is both tighter and more immediate than is conventionally assumed. I had a great talk with Andy about this yesterday afternoon, and I pointed out to him what I think is a weakness in the analysis that both he and Rutledge have offered. The classic Hubbert analysis they employ does not, I think, sufficiently account for the economic effects of permanently higher energy costs increasing the body of economically recoverable reserves. I don’t think this invalidates the argument, but I think the models they’re employing need to better account for that variable. (I’ve got a small stack of papers dealing with this issue to read. I’ll try to expand this argument as I get a better handle on it.)
I don’t think this is in any way a fatal criticism, though, and I think these guys are onto an interesting line of inquiry.