International market power in oil and strategic responses to climate policy
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Effective sub-global initiatives to limit carbon emissions will result in substantial changes in the international demand for fossil energy, and this transfers policy costs to energy exporters. Most quantitative analysis of carbon policy, however, does not consider Saudi Arabia's significant market power in crude oil. The literature largely ignores the fact that Saudi Arabia might change export markups in a way that mitigates the climate policy costs. Against this background, this dissertation addresses three primary concerns. First, under what conditions does Saudi Arabia have the ability ...