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Adelman's Rule and the Petroleum Firm

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Energy Specializations: Petroleum – Exploration and Production; Petroleum – Markets and Prices for Crude Oil and Products; Petroleum – Policy and Regulation

JEL Codes:
D24 - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
L13 - Oligopoly and Other Imperfect Markets
E60 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General

Keywords: Hotelling's Rule, oil industry, Exhaustible resources, Adelman's Rule, oil field valuation

DOI: 10.5547/ISSN0195-6574-EJ-Vol22-No3-2

Published in Volume22, Number 3 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.