Dependence on foreign oil remains a serious issue for the U.S. economy. Additionally, automobile emissions related to petroleum-based, fossil fuel has been cited as one source of environmental problems, such as global warming and reduced air quality. Using agricultural and forest biomass as a...

The objective of this paper is to examine the responsiveness to price incentives of petroleum exploration, the generation of proven reserves and the production out of reserves in the United States. First, a theoretical framework of oil extraction and supply is developed. Next, an econometric...

This paper examines the impacts of potential higher prices and short supplies for energy inputs used in the production of agricultura1 commodities. We focus specifically on the issue of the extent to which the cost or availability of energy inputs might lead to a situation in which the United...

This study suggests that demand management through pricing policies can be used to solve water supply problems. A demand function for water was developed using cross-sectional water data. The demand function was used in a simulation analysis to determine reservoir capacity needed to supply water...

This paper develops an econometric model of petroleum discovery and extraction. Impacts of three selected price policies for petroleum are analyzed with the model. Higher oil prices do encourage additional domestic oil exploration and extraction.