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OCS Leasing Policy: Its Effects on the Structure of the Petroleum Industry

Mark Kosrno

Year: 1985
Volume: Volume 6
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol6-No1-8
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Abstract:
The disposition of offshore lands is one of the decade's most im-portant and controversial natural resource policy issues. Several disputes focus on the economic effects of federal Outer Continental Shelf (OCS) leasing policy. This paper addresses one of these disputes-how will OCSleasing policy affect the structure of the petroleum industry?This paper presents and summarizes an econometric model that evaluates the competitive implications of alternative OCS leasing policies.Specifically, it seeks to explain the differential bidding success of the major, minor, and independent oil companies.1 The following determinantsof OCS access were evaluated.



Oil Production Policy and Economic Development in Mexico

Hossein Razavi

Year: 1985
Volume: Volume 6
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol6-No2-5
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Abstract:
The economics literature of the oil market is primarily concerned with the behavior of OPEC member countries, viewing the non-OPEC oil exporters as insignificant. Recently, however, oil exports by non-OPEC countries have expanded substantially, increasing the role these countries play in the oil market. Among these countries, Mexico is of special interest because it is the largest non-OPEC oil exporter, with huge petroleum resources; at the same time, it has an enormous requirement for foreign exchange.





Electricity Exports and Hydro-Quebec's 1986-2000 Development Plan

Danny Manger and Jean-Thomas Bernard

Year: 1989
Volume: Volume 10
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol10-No1-12
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Abstract:
Between 1980 and 1986. Hydro-Quebec's electricity exports to neighboring utilities in the United States and Canada posted an average annual growth rate of 7.3 percent while regular electricity sales in Quebec increased by only 3.8 percent.' Exports accounted for 18.7 percent of the electricity sold by Hydro-Quebec and 13.9 percent of its income in 1986. The Premier of Quebec, Robert Bourassa, is strongly committed to a policy of promoting further firm electricity exports. mostly to the U.S. Northeast region.



Chapter 10 - Estimating the Costs for Japan's JPDR Project

Satoshi Yanagihara and Mitsugu Tanaka

Year: 1991
Volume: Volume 12
Number: Special Issue
DOI: 10.5547/ISSN0195-6574-EJ-Vol12-NoSI-10
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Abstract:
There has been an international flavor of cooperation in the commercial development of nuclear power. This cooperation is most strongly established with the development of strategies for decommissioning. Many countries are beginning this phase at about the same time; Japan, Canada, Germany, and the United States all are involved in dismantlement projects. This chapter, along with the next four chapters, addresses various aspects of the methodological approaches being developed to estimate decommissioning costs. Each country has adopted a different strategy for reactor decommissioning, taking its political and technical situations into consideration.Japan also has its own strategy of reactor decommissioning, reflecting the geographic and economic positions peculiar to Japan. The Japan Power Demonstration Reactor (JPDR) decommissioning program is in the process of establishing a decommissioning data base and a cost estimation methodology, as well as developing new technology for reactor decommissioning. Various information about the JPDR dismantling has been accumulated in the decommissioning data base, which will be used for: (1) planning future decommissioning of commercial nuclear power reactors; (2) verifying the developed code system for management of reactor decommissioning; and (3) managing the ongoing JPDR dismantling. The computer code system developed in this program is expected to contribute to studying cost estimation and the optimization of decommissioning plans for commercial nuclear power reactors.



Woodfuel Use and Sustainable Development in Haiti

Richard H. Hosier and Mark A. Bernstein

Year: 1992
Volume: Volume 13
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol13-No2-7
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Abstract:
This paper examines energy use and environmental deterioration in Haiti. It applies linear programming to the national energy balance to analyze whether or not the substitution of kerosene or other petroleum fuels for charcoal is economically beneficial and whether it will result in a reduction of pressure for deforestation. It concludes that because of the inefficiencies in the production of charcoal, the substitution of kerosene for charcoal is an economically beneficial option. However, if stimulated through price incentives alone, it is unlikely to lead to an overall reduction in the quantity of wood used for fuel. Energy and environmental policy, therefore, must focus on interfuel substitution, improved efficiency and rural afforestation, in addition to "getting the prices right".





The Management of Flexibility in the Upstream Petroleum Industry

David Laughton

Year: 1998
Volume: Volume19
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol19-No1-4
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Abstract:
This paper is the third in a series that describes how Modern Asset Pricing (MAP) may be used for project evaluation in the upstream petroleum industry. It demonstrates how MAP can be applied to projects where policies for the management of future flexibility must be considered within the context of the valuation. We illustrate this use of MAP by looking specifically at flexibility in the timing of the exploration, delineation, and development of an oil prospect, and the timing of the abandonment of the subsequent developed field. We use examples to show how the value and management of flexibility depends on the amount of oil price and reserve size uncertainty. We find that prospect value increases with both types of uncertainty. We also find that all actions, from exploration to abandonment, occur later with greater oil price uncertainty. Conversely, we find that exploration and delineation occur sooner with greater reserve uncertainty. The reasons for these results are given.



The Role of Electricity in Industrial Development

Nathan Rosenberg

Year: 1998
Volume: Volume19
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol19-No2-2
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Abstract:
This paper examines the role played by electricity in the course of industrial development over the past century. The focus is primarily on the American experience. It is commonly observed that industrialization involves increasing energy intensity, but this is not entirely accurate. In the American experience, energy intensity (measured as the ratio of total energy consumption to GNP) rose between 1880 and 1920, but declined thereafter. However, throughout the entire 20th century, electricity's share of total energy consumption has increased. The paper accounts for this rising share in terms of certain unique features of electricity in specific industrial applications, i.e., features for which other energy forms are, at best, highly imperfect substitutes.



A Thousand Years of Energy Use in the United Kingdom

Roger Fouquet and Peter J. G. Pearson

Year: 1998
Volume: Volume19
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol19-No4-1
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Abstract:
This paper examines the evolution of energy use and its influences in the United Kingdom over the very long run by combining economic literature and statistical information. The paper argues that the provision of energy services, mainly heat and power, is bound by the tensions between a changing growth rate and structure of economic activity and the constraints of energetic resources. After periods of tension, energy price differentials, as well as the diffusion of technological innovation and the development of new fuels, led to new mixes of energy sources to supply heat and power. This paper identifies three major changes that characterise the history of UK energy use: first, the dramatic increase in per capita energy use; second, the shift in methods of supplying energy services, from biomass sources to fossil fuels, from coal to petroleum to natural gas, and from raw forms to more value-added energy sources; and, third, the replacing of direct methods of generating power, from animate sources, wind and water, by the use of mechanical and electrical methods, which have so far depended mainly on fossil fuels. These changes were instrumental in influencing the relationship between GDP and energy use, and also the levels of environmentalpollution.




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