search query: @indexterm r&d / total: 2064
reference: 9 / 2064
| Author: | Bahel, E. |
| Title: | Optimal management of strategic reserves of nonrenewable natural resources |
| Journal: | Journal of Environmental Economics and Management
2011 : MAY, VOL. 61:3, p. 267-280 |
| Index terms: | management materials handling petroleum industry r&d natural resources |
| Freeterms: | embargo |
| Language: | eng |
| Abstract: | This article examines the stockpiling issue for an oil importing country that will likely suffer from embargoes, of which occurrence and duration are uncertain. I show that a decreasing reserves path exists and the country wants to attain it in order to hedge against these turbulences. Allowing the importing country's investment in R&D to free itself from the embargo reat, I estimate the optimal effort that should be engaged in research. The incentive to develop a backstop is demonstrated to increase with the outwearing of the reserves. |
SCIMA