haku: @indexterm Petroleum Industry / yhteensä: 202
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| Tekijä: | Adelman, M. A. |
| Otsikko: | Mineral depletion, with special reference to petroleum |
| Lehti: | Review of Economics and Statistics
1990 : FEB, VOL. 72:1, p. 1-10 |
| Asiasana: | OIL INDUSTRY MINERALS RESOURCES MARKETS MONOPOLY COMPETITION PETROLEUM INDUSTRY |
| Kieli: | eng |
| Tiivistelmä: | There is no fixed stock, only a flow into current inventory reserves. Development outlay per added unit of reserves or capacity is also a proxy for finding cost and resource rent. Worldwide stability of development cost shows oil has not become more scarce since 1955. A simple development model explains observed value-price relations. The rate of interest has little net effect upon the optimal rate of reservoir depletion. Competitive mineral markets do not resemble monopolized markets. The expropriation of low-cost oil in the 1970s would have increased depletion under competition monopoly curtailed it. |
SCIMA