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Optimal oil extraction models have often focused on economic costs and benefits in oil production. Anthropogenic pressures in accelerating climate change have become increasingly important in energy policy analysis. Renewables have gained prominence in climate policy analysis and academic discourse, and to some extent with different governments. The two strands of literature, the economically optimal extraction and climate change induced renewable substitutions, have developed separately. A Cournot-Nash equilibrium model was formulated and applied to conduct simulation experiments over a longer time horizon of 150 years. The findings indicated that if there is no renewable substitution, global oil reserves will be fully extracted in less than eighty-seven years, with slight differences depending on variations on marginal cost of oil extraction. Further, reductions in unit cost of renewable production have a greater impact on oil extraction than the respective marginal cost of oil extraction. If the unit cost of renewables falls closer to the level of currently low marginal cost for oil producers, then renewable substitution for oil would accelerate – rendering oil extraction uneconomical long before known oil reserves would be exhausted. [ABSTRACT FROM AUTHOR]

This study is concerned with food security effects of global warming in Kuwait. The Intergovernmental Panel on Climate Change (IPCC) approach to monitor impacts of human activities on climate change has essentially remained top-down. Hence, it fallen out of favour among end user communities. In this procedure, the needs of policymakers at national scale have been peripheral. Kuwait’s food security is a good illustration of this. The study is implemented by applying a recursive dynamic computable general equilibrium model for Kuwait. The model was calibrated on Kuwaiti data to examine food security impacts of the five Shared Socio-economic Pathways. The simulation results indicate asymmetrical impacts on Kuwait’s agriculture and food processing industries. Arid countries would benefit by enhancing national capacities to assess food security implications of global warming scenarios. [ABSTRACT FROM AUTHOR]