Is hotelling's rule relevant to domestic oil production?

Article Abstract:

A novel model of petroleum supply was designed in order to evaluate the impact of engineering and geological factors with oil supply. Unlike standard maximum efficiency recovery (MER) models, the proposed framework treats oil production rate as a factor of economy in order to prevent generating bias results. Statistics gathered from Montana oil fields revealed that geo-engineering principles and economic factors are both significant in determining the prices of oil.

PETROLEUM AND COAL PRODUCTS, Petroleum, Petroleum and Coal Products Manufacturing, Industrial Nonbuilding Structure Construction, Heavy Construction, Except Highway, Oilfield Construction, Prices and rates, Petroleum engineering, Oil well drilling, Oil field construction

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Stochastic bycatch, informational asymmetry, and discarding

Article Abstract:

A study conducted to build a bioeconomic model of a two-stock system by combining stochasticity in bycatch rates with discrepancies between private and social prices, in which heterogeneous bycatch reduces dynamic social rents, is presented.

United States, Economic aspects, Economic stabilization, Bycatch

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