U.S. energy product supply elasticities: a survey and application to the U.S. oil market
Article Abstract:
Studies that compute reserve costs in estimating reserve price elasticities are the most promising in estimating reserve elasticities in the US crude oil market. A reserve supply function yielding an oil reserve at 1.27 elasticity resulted from lining up reserves with costs. The reserve equations are quite general in nature since cost is a producer component and not the market's. These costs have also been based on a short time period, thus, further studies using the same method should be made on a longer time period to determine the effects of depletion and technical changes.
Publication Name: Resource and Energy Economics
Subject: Petroleum, energy and mining industries
ISSN: 0928-7655
Year: 1996
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Crude oil prices between 1985 and 1994: how volatile in relation to other commodities?
Article Abstract:
Prices of crude oil between 1985 and 1994 were found to be more volatile than prices of other widely traded commodities. Consideration of price volatility for two marker crude oils and nine popularly traded commodities showed that month-to-month changes in prices of oil tend to be more volatile than those of other commodities studied. Higher storage costs, less ease of physical arbitrage and more feedstock constraints are three factors believed to have contributed greatly to crude oil price volatility.
Publication Name: Resource and Energy Economics
Subject: Petroleum, energy and mining industries
ISSN: 0928-7655
Year: 1998
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On ad valorem taxation of nonrenewable resource production
Article Abstract:
A dynamic computational model has been used to analyze the economic and social aspects of natural gas royalty taxation. Through a sensitivity analysis of natural gas allocation for the Canadian province of British Colombia, it has been determined that moderate royalty taxes above 30% pose small proportionate social welfare losses and generate only less than 6.5% of the fixed royalty. Moreover, multi-depletion paths have been determined to be optimal for nonrenewable resources and taxation.
Publication Name: Resource and Energy Economics
Subject: Petroleum, energy and mining industries
ISSN: 0928-7655
Year: 1997
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