View source for Fossil energy resources - GCAM

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GCAM models depletable resources (oil, unconventional oil, natural gas, coal, and uranium) using graded resource supply curves. The fossil resources are produced from these supply curves using a “Resource / Reserve” model. In this approach as the market price of the resource increases, we look up the supply curve to determine the additional quantity available and move that quantity of “resource” into a “reserve”. We assume production of that reserve over some well / mine lifetime appropriate for each fuel. Technical change can be applied to reduce the extraction cost of the “resource” in future years [http://jgcri.github.io/gcam-doc/energy.html#resources <nowiki>[1]</nowiki>].