... empirically evaluate a modelof the world oil market that does not take an a-priori view of the relative importance ofbinding resource constraints versus the price mechanism for world oil supply. ... the assumption that technology is independent of the availability of fossilfuels may be inappropriate, so that a lack of availability of oil may have aspects of anegative technology shock. In ... J. and Lindenberger, D. (2002), “Capital, Labor, Energy and The Future of Oil: Geology versus Technology Jaromir Benes, Marcelle Chauvet, Ondra Kamenik, Michael Kumhof, Douglas Laxton,...