Loading Events

« All Events

  • This event has passed.

Friday Lunch Meeting, Olivier Massol, 22th of february 2019

22 February @ 12 h 30 min - 14 h 00 min

Olivier Massol (Professor at the Institut Français du Pétrole et Énergies Nouvelles (IFP Énergies Nouvelles)) will lecture about his paper Phasing out the U.S. Federal Helium Reserve: Policy insights from a world helium model (link here).

 
Abstract

This paper develops a detailed partial equilibrium model of the global helium market to study the effects of the recently decided rapid phase out of the U.S. Federal Helium Reserve (FHR), a vast strategic stockpile accumulated during the 1960s. The model incorporates a detailed representation of that industry and treats both helium producers and the FHR as players in a dynamic non-cooperative game. The goal of each player is assumed to be the maximization of discounted profit, subject to technical and resource constraints. We consider two alternative policies aimed at organizing the phase out of the FHR: the currently implemented one and a less stringent one whereby the FHR would be allowed to operate as a profit-maximizing agent during an extended period of time. Evidences gained from a series of market simulations indicate that, compared to the current policy, a less stringent policy mandate systematically increases the financial return to the U.S. federal budget, always enhances environmental outcomes as it lowers helium venting into the atmosphere, and also augments global welfare in three out of the four scenarios considered in the paper. 

 
If you wish to receive invitations to FLMs, present your works or unsubscribe from the mailing list please feel free to contact this address: flm@ChaireEconomieduClimat.org
 

Chaire Economie du Climat

Palais Brongniart, 28 Place de la bourse – 75 002 Paris

FLM- Salle du Séminaire – 4è étage (12.30 pm – 2 pm)

Details

Date:
22 February
Time:
12 h 30 - 14 h 00
Event Category: