Optimal production and reclamation at a mine site with an ecosystem constraint

Article Abstract:

A model of reclamation and mineral production is developed in such a way that the two activities are treated as joint products at a mine subject exposed to an ecosystem constraint and the traditional depletion constraint. The model defines reclamation as the development of more 'environmental slack' or the expansion of the capacity of the waste pile. This model shows that the mine will lose rent on the mineral product in time with the increase of the shadow price of environmental slack. Production is shown to drop over time, with production shifts occurring even without a positive discount rate.

Mining & Extractive Industries, Mining, Models, Management, Biotic communities, Mineral deposits, Mines and mineral resources, Land reclamation, Reclamation of land

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A dynamic game of a transboundary pollutant with asymmetric players

Article Abstract:

The international problem of changes in global climate is addressed using a tax/subsidy scheme and the results examined. The effect of different policy options can be studied using a dynamic game framework to model transboundary pollutants. The effect on policy of the tax/subsidy scheme is considered using asymmetric players in a nonzero-sum dynamic game, together with the effect on the player's strategies and value functions. The attitudes of the players to changes in global climate is shown asymmetrically, with one playing losing and another benefitting.

Evaluation, Global warming, Environmental policy, Transboundary pollution

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A well-based cost function and the economics of exhaustible resources: the case of natural gas

Article Abstract:

Empirical studies of the cost functions of natural resource extraction have largely neglected cost functions at the individual well level. To remedy this deficiency, time-series data from 29 tight sand natural gas wells differing in age, producing information, location and operator were used to estimate a cost function for natural gas production. The results show that production costs increase with declining reserves, while marginal production costs decrease with increased production rate.

Crude Petroleum and Natural Gas Extraction, Crude petroleum and natural gas, Natural Gas, Well Produced, Research, Production management, Natural gas, Gas industry, Natural gas wells, Costs, Industrial, Industrial costs, Gas wells

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