Seminars & webinars
10 September, 2015

Energy Transitions: Directed Technical Change Meets Directed Extraction

Where: Milan

Fondazione Eni Enrico Mattei
Corso Magenta 63
20123 Milan

at FEEM Venice

How to reach: Google map
Event's Timetable:

h. 12.00 Seminar


Seminars Office,


Derek Lemoine, University of Arizona


Industrial economies have undergone multiple transitions in their dominant energy input: from biomass to coal, then from coal to oil, and now perhaps from oil to natural gas. I develop a setting in which specialized machines must be used to convert different types of resources into useful energy. I show that regular transitions between dominant resources arise endogenously when innovation and extraction are both directed to the most profitable resource. I also formalize a novel market transformation motive for the common policies that mandate use of renewable energy: seemingly small mandates can redirect innovation towards renewable energy, and the resulting improved technology can eventually generate a transition to renewable energy.

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Energy Transitions: Directed Technical Change Meets Directed Extraction

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