Energy Transition Metals
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Summary:
The energy transition requires substantial amounts of metals such as copper, nickel, cobalt and lithium. Are these metals a key bottleneck? We identify metal-specific demand shocks, estimate supply elasticities and pin down the price impact of the energy transition in a structural scenario analysis. Metal prices would reach historical peaks for an unprecedented, sustained period in a net-zero emissions scenario. The total value of metals production would rise more than four-fold for the period 2021 to 2040, rivaling the total value of crude oil production. Metals are a potentially important input into integrated assessments models of climate change.
Series:
Working Paper No. 2021/243
Subject:
Commodities Copper Economic theory Metal prices Metals Prices Supply elasticity
Frequency:
regular
English
Publication Date:
October 12, 2021
ISBN/ISSN:
9781513599373/1018-5941
Stock No:
WPIEA2021243
Pages:
41
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