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 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.

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...

This study examines the effects of price incentives on the availability of petroleum. Expected sustained higher crude oil prices to domestic producers constitute an incentive to increase both exploratory drilling and secondary and tertiary recovery of oil as well as production out of reserves....

This study developed an intertemporal profit function to determine optimal conservation adoption strategies under alternative scenarios with respect to crop prices, relative yields, discount rates, and other assumptions. Special emphasis was placed on determining from the analysis when the...