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Coal Policy and Energy Economics

Richard L. Gordon

Year: 1980
Volume: Volume 1
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol1-No1-8
View Abstract

Abstract:
With the flurry of legislation in 1977 further inhibiting coal consumption and production, it became apparent to many observers that coal had joined oil, gas, and nuclear energy as a tightly regulated industry. Since by now this observation has been widely dissemi-nated, it seems most appropriate here only to summarize the nature of the barriers and their obvious implications. Then emphasis can be placed on the perspectives that economic analyses can provide for evaluating the issues.



The U.S. Outlook for Supplemental Gas

Arlon R. Tussing

Year: 1980
Volume: Volume 1
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol1-No1-7
View Abstract

Abstract:
Current forecasts of natural gas demand in the United States through the turn of the century are lower than projections made only a few years ago, and fall far short of the volumes the economy is technically capable of absorbing even with its existing stock of energy-using equipment.



Regional Growth and Energy Determinants: Implications for the Future

T. R. Lakshmanan

Year: 1981
Volume: Volume 2
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol2-No2-1
View Abstract

Abstract:
Energy is used in the production, transportation, and delivery of all goods and services, and is thus crucial to the welfare of a modern industrial society. Recent problems with energy, such as higher prices and the uncertainty of supplies, have consequently had adverse effects on industrial input prices, transport budgets, and the cost of living. These effects, in turn, have prompted a variety of adjustments, such as energy conservation-through reductions in energy intensity and through acquisition of energy efficient capital stock-and substitution of cheaper and more abundant fuels. Since some aspects of fuel switching lead to significant shortfalls in environmental quality, environmental considerations may constrain future energy developments.



Balancing Energy Supply and Demand: A Fifty-Year Global Perspective

Paul S. Basile

Year: 1981
Volume: Volume 2
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol2-No3-1
View Abstract

Abstract:
Over the next five decades, even with vigorous conservation measures in industrialized regions, increasing needs for liquid fuels throughout the world may exceed the capabilities of global energy supply systems. The "energy problem," viewed in a sufficiently long-term and global perspective, is not an energy problem, strictly speaking, but an oil problem, or more precisely, a liquid fuels problem.



The Dilemma of Economic Versus Statistical Models of Energy

J. Daniel Khazzoom

Year: 1981
Volume: Volume 2
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol2-No3-10
View Abstract

Abstract:
The recent surge of interest among energy planners in economic models' for predicting the energy outlook has coincided with a growing senseof disillusionment among many practicing econometricians about the forecasting performance of economic models (see, for example, Stekler, 1968).Many economists argue that the problem with economic models lies in the economic theories behind them. These theories analyze the impact of policy changes on the assumption that the structure will not change, when in fact what may happen is that the structure itself, and not just the variables ofinterest, may change as policy changes. What is needed is a theory that predicts how the structure will change in response to such policy changes.



Changes in Regional Economic Capacity Due to Projected Energy Price Changes

D. J. Bjornstad

Year: 1982
Volume: Volume 3
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol3-No1-2
View Abstract

Abstract:
Though it is commonly recognized that changing energy prices will alter economic relationships among regions, there is a paucity of evidence upon which to predict the likely magnitude of these impacts. Much subnational energy-related research has concerned itself with the technical and behavioral parameters that describe quantities of energydemanded and supplied.



IV. The Economics of Gas Supply, The Effects of Decontrol Policy Options

Steven E. Muzzo

Year: 1982
Volume: Volume 3
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol3-No4-4
View Abstract

Abstract:
Over the past nine or so years, the United States has focused a large portion of its national attention on energy concerns. Indeed, the world economy is in the midst of an economic revolution over the value of one of its most important inputs. A new economic reality-that once cheap energy sources that fuel the world economy are becoming more and more expensive-has forced much of the world, and especially the United States, to reevaluate its policies on energy sources and uses.



An Integrated Approach to Electricity Demand Forecasting

Harlan D. Platt

Year: 1983
Volume: Volume 4
Number: Special Issue
DOI: 10.5547/ISSN0195-6574-EJ-Vol4-NoSI-5
No Abstract



The Future of OPEC: Price Level and Cartel Stability

George Daly, James M. Griffin, and Henry B. Steele

Year: 1983
Volume: Volume 4
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol4-No1-4
View Abstract

Abstract:
In the wake of events associated with the Iranian revolution, the world price of oil increased from $15 to $32 per barrel. The Energy Modeling Forum's recent review of 10 world oil models shows virtual unanimity in holding that this price increase will be permanent and, indeed, that the real price of oil will increase in the future. The purpose of this paper is to seriously question the assumptions underlying such long-run projections-and hence the projections themselves. We conclude that the 1978-79 price hikes may prove to be a watershed event that effects fundamental changes in the long-run supply and demand for oil.



World Oil Prices and Economic Growth In the 1980s

Henry D. Jacoby and James L. Paddock

Year: 1983
Volume: Volume 4
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol4-No2-4
View Abstract

Abstract:
The world oil market is a forecaster's nightmare: seldom have so many knowledgeable observers been so wrong so often. Prior to 1973, few foresaw the magnitude of the price jump that was possible under disrupted conditions, or predicted the years of relative stability that followed. The Iranian revolution brought a similar surprise. On the other hand, in the fall of 1980 came the Iran-Iraq war; again a major price shock seemed at hand. Experts are still arguing about why it did not occur.




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