In this paper we estimate the cost-effectiveness, in terms of reducing greenhouse gas emissions, of increasing the corporate average fuel economy (CAFE) standard to 38 miles per gallon and substituting methanol, compressed natural gas (CNG), and reformulated gasoline for conventional gasoline....

"Hybrid" models of oil and gas supply combine an econometric model of exploration activity with a geologic/engineering model of the discovery process. The advantages of such models over either purely econometric or purely geologic/engineering approaches are their recognition of the regularities...