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Appropriate Government Policy Toward Commercialization of New Energy Supply Technologies

Richard Schmalensee

Year: 1980
Volume: Volume 1
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol1-No2-1
View Abstract

Abstract:
This article considers the merits of government support for the commercialization of particular energy supply technologies, and sketches a framework for the economic evaluation of different schemes for such support.' Specific current proposals are not analyzed in detail, as the emphasis is on identifying conditions under*Professor of Applied Economics, Sloan School of Management, Massachusetts Institute of Technology.



Net Effects of Government Interventionin Energy Markets

Paul F. Dickens III, David L. McNicol, Frederic H. Murphy, and Julie H. Zalkind

Year: 1983
Volume: Volume 4
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol4-No2-10
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Abstract:
There have been several comprehensive studies of energy policy in the last few years, for example, Shurr (1979), Federal Energy Administration (1976), ERDA (1976), and the Ford Foundation (Landsberg, 1978). Unlike these studies of energy policies, this effort is not prescriptive. Rather, it measures the effects of a large set of policies on energy markets to provide an understanding of how government programs reinforce or offset one another.



Nationalizing Oil in the 1970s

Dean Goodermote and Richard B. Mancke

Year: 1983
Volume: Volume 4
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol4-No4-5
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Abstract:
National oil companies emerged during the 1970s as an important force within both oil-exporting and oil-importing countries. By 1980 they were producing and marketing well over half the crude oil available for sale on world markets. These oil companies prospered within oil-exporting countries as events increasingly confirmed that the principal source of economic power in the oil business was sovereign control over oil reserves rather than private control over technical, managerial, and capital resources. During the 1970s, many oil-exporting countries sought to exploit their new-found market strength and exercise greater control over their oil industry either by building up existing government-owned oil companies or by seizing the opportunity to create new ones.



Severance Taxes and the Government's Share of Value from Oil and Gas Production

John Lohrenz and John A. Pederson

Year: 1985
Volume: Volume 6
Number: Special Issue
DOI: 10.5547/ISSN0195-6574-EJ-Vol6-NoSI-17
No Abstract



The Incidence of Severance Taxes in a Residual Demand Framework

Albert L. Danielsen and Phillip A. Cartwright

Year: 1985
Volume: Volume 6
Number: Special Issue
DOI: 10.5547/ISSN0195-6574-EJ-Vol6-NoSI-19
No Abstract



International Energy Policy: The Conflict of Investment Needs and Market Signals

Paul Tempest

Year: 1985
Volume: Volume 6
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol6-No2-2
View Abstract

Abstract:
I am delighted to have the privilege to welcome you to this, our sixth annual North American Conference, here in San Francisco today. By some curious coincidence we have elected to meet on the very day, November 6th, when in the United States you are making the most important world leadership decision of the decade. Today, the rest of the world will be watching to see whether the U.S. electorates will endorse, inter alia, the deregulation of oil and gas and the underlying reliance on market forces to produce acceptable energy solutions for national security.Energy security, then, and the role of government is the theme I have chosen today, as I believe it still lies very much at the heart of the current energy debate. Can our energy systems survive and prosper? To what extent are volatile markets or irresponsible governments likely to mess them up? In this I conclude that, while on resource and production cost grounds, the Arabian Gulf still presents a neglected opportunity and Western Europe a neglected risk, the greatest danger lies in the United States' imposing its highly market-oriented energy logic on the rest of the world.



Special Feature's an Oil Tariff Justified? An American Debate

Arlon R. Tussing, Samuel A. Van Vactor, Harry G. Broadman, William W. Hogan, Dale M. Nesbitt and Thomas Y. Choi

Year: 1988
Volume: Volume 9
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol9-No3-1
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Abstract:
I. Reality Says No, Arlon R. Tussing and Samuel A. Van VactorII. The Numbers Say Yes, Harry G. Broadman and William W. HoganIII. The Numbers Say No, Dale M. Nesbitt and Thomas Y. ChoiMany oil industry spokesmen who pleaded for a free market in the era of regulation are now urging the opposite: federal protection from low-cost imported oil. It is ironic that some economists should find merit in these arguments, particularly now that the very idea of free trade is facing the most serious assault in decades.



Energy Economists and Economic Liberalism

Colin Robinson

Year: 2000
Volume: Volume21
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol21-No2-1
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Abstract:
Energy markets in many countries have been extensively liberalised in recent years as part of the revival of market economics. However, though ,everyone may believe in markets now', there are differences of opinion about what constitutes a competitive market. The perfect competition paradigm persists and leads to demands for state regulation to counteract 'imperfections' anti failures'. Energy economists should look more sceptically than they generally do at these calls for regulation, most of which have little to do with the 'public interest': in the long run the accretion of regulation may lead back to extensive state control.



Electricity Restructuring in Ontario

Michael J. Trebilcock and Roy Hrab

Year: 2005
Volume: Volume 26
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol26-No1-6
View Abstract

Abstract:
This paper examines the short-lived electricity sector restructuring initiative of the province of Ontario, Canada�s largest province. In May 2002, following years of planning and consultation Ontario opened its retail and wholesale electricity markets to competition. The summer of 2002 saw retail prices reach levels that consumers had never previously encountered. By December 2002, the provincial government froze retail electricity prices, covering approximately half of Ontario�s electricity consumption. While the weather played a significant role in driving prices higher during the summer of 2002, other factors also played a major role. The other factors reviewed in this paper fall into two categories. The first category consists of market design problems, such as market rules (e.g., trading arrangements) and market structure (e.g., the degree of competition in the generation sector). The second category covers political economy problems, in particular the lack of political will to allow retail prices to reflect wholesale prices and to address effectively structural problems in the sector. Finally, this paper examines some of the new restructuring initiatives being pursued by the recently elected provincial government of Ontario as the province continues to struggle to bring order to its electricity sector.



After the Natural Gas Bubble: An Economic Evaluation of the Recent U.S. National Petroleum Council Study

Ken Costello, Hillard G. Huntington, and James F. Wilson

Year: 2005
Volume: Volume 26
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol26-No2-5
View Abstract

Abstract:
This perspective paper reviews and critiques the policy analysis and modeling of future natural gas markets in the National Petroleum Council�s 2003 natural gas study (NPC Study). The NPC Study provided an important and timely review of long-term natural gas supply, demand and potential policies to increase supply or suppress demand. However, its long-term scenarios used assumptions and simplifications that led to understating likely longer-term market reactions to higher natural gas prices, which results in exaggeration of the potential benefits of the policies recommended by the NPC. In addition, the narrow scope of the NPC Study did not address many important considerations in natural gas policy, such as the costs of recommended policies, or their impacts on taxpayers, resource owners, or the environment. Overall, the study does not provide the evidence needed to justify major natural gas policies, especially in view of the current uncertain market environment.




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