Dynamic Management of Fossil Fuel, Biofuel, and Solar Energy
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- Kaplan S., Séguin C., Steininger K.W., Zilberman D. (2014) Dynamic Management of Fossil Fuel, Biofuel, and Solar Energy. In: Pinto A., Zilberman D. (eds) Modeling, Dynamics, Optimization and Bioeconomics I. Springer Proceedings in Mathematics & Statistics, vol 73. Springer, Cham
Cheap energy has been key to the modern economy. The use of electricity and the internal combustion engine have been crucial for current patterns of civilization, and reduction in availability or increases in the cost of energy have serious consequences for current activities of society. Concerns about climate change, depletion of fossil fuel, and exchange rates are causing societies to transition from fossil to renewable fuel. The transition is challenging both in terms of modeling and policy design. There is an emerging portfolio of alternative technologies, but the extent and order in which they will be introduced is uncertain and presents a major challenge.