The main object of this research is to estimate a time series for the total and unit value of in-ground proved oil reserves and natural gas reserves in the United States. There are good official statistics of the physical quantities. Our task has been primarily to estimate the in-ground unit...

The economics of relations between prices and resource stocks has been dominated by the Hotelling Principle. But seemingly little attention has been given to the Principle by the oil and gas industry itself. In this paper the Principle is appraised, some new empirical results based on the value...

The demand for energy is a derived demand, since it is transmitted from demands for goods and services that incorporate energy as an input. Trends in the ratio of energy consumption to the level of output the so-called energy coefficient-are often used to examine energy demand in the industrial...

Analysis of factors affecting various types of energy demand has been the focus of a large number of studies in the last decade. One common point of agreement is that the demand for any fuel is tied closely to the technical, engineering, and thermodynamic characteristics of the energy-using...

Evidence to support or deny expectations of future scarcity or abundance of crude oil must show whether crude oil supply functions are shifting and, if so, in what direction. The authors estimate oil supply functions for 41 countries for which suitable data are available. Because of the poor...