This paper analyzes the relationship between GNP per capita and energy consumption per capita for 43 market economies during the years 1978, 1979, and 1980. Several functional forms are analyzed. Specification tests establish that a double logarithmic equation is preferable to all others....

This paper demonstrates that models which combine the physical reserves of oil with economic and regulatory variables provide better forecasts of future production than models based on either reserves or economic variables alone. Four alternative models are specified and estimated. Out-of-sample...