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Full-Text Articles in Engineering
The Opec Oil-Pricing Policies, Vaman Rao
The Opec Oil-Pricing Policies, Vaman Rao
UMR-MEC Conference on Energy / UMR-DNR Conference on Energy
The capital-theoretic model suggested for determining the price- quantity combinations does not hold in the case of most natural resources, including petroleum, since the inelastic demand function would vitiate the optimal solution. The specification of a dynamic demand function, with necessary, attributes, no doubt, results in a valid optimal solution in period t, but that could be achieved only at the cost of sub-optimal solution in other periods. If the OPEC starts behaving as a discriminating monopoly, instead of as a pure monopoly, the optimal solution is assured in all markets and in all time periods.
Theoretical And Empirical Approaches To The Analysis Of Opec, Albert L. Danielsen
Theoretical And Empirical Approaches To The Analysis Of Opec, Albert L. Danielsen
UMR-MEC Conference on Energy / UMR-DNR Conference on Energy
Formal theoretical models of world oil price determination have been developed in recent years. In addition, some empirical estimates of expected future prices have been proposed. This paper explains how exhaustible resource and cartel theory are integrated into the opitmal control framework. Some empirical studies in the optimal control tradition are surveyed and evaluated.
The Energy Needs Of The Developing Countries, Vaman Rao
The Energy Needs Of The Developing Countries, Vaman Rao
UMR-MEC Conference on Energy / UMR-DNR Conference on Energy
The energy needs of the developing countries are enormous. They will grow with the passage of time as the pace of economic development accelerates and those countries enter the industrial epoch. The sheer physical non-availability of coal and petroleum to most of them makes it obligatory to choose an unconventional resource as an energy-base. The nuclear fission is the only option now available which is feasible, less-expensive and plentiful. Solar and fusion may be the ultimate sources in the steady state, when appropriate technologies are developed.
The Political Economy Of Opec, Loring Allen
The Political Economy Of Opec, Loring Allen
UMR-MEC Conference on Energy / UMR-DNR Conference on Energy
The Organization of Petroleum Exporting Countries (OPEC) is a part of the hard reality of the present and future energy position of the U. S. It burst upon the world scene in 1973 in response to long years of shabby treatment by the oil companies and oil-importing countries. Through cooperation in the exercise of their sovereignty over oil deposits, OPEC members have extracted increasing revenues through restricting production and raising price. Although serving its own interests, OPEC benefits also the rest of the world, even though its presence portends a shift in the world balance of power.
Economics And Net Energy Analysis: Is A New Analytical Technique Needed For Energy Decision Making?, William J. Kruvant
Economics And Net Energy Analysis: Is A New Analytical Technique Needed For Energy Decision Making?, William J. Kruvant
UMR-MEC Conference on Energy / UMR-DNR Conference on Energy
The paper attempts to evaluate the claims of Net Energy Analysis (NEA) against those of economics in a reasonably comprehensive way. The principal problems of NEA concern system boundaries, aggregation across fuels, valuing external effects, valuing human labor and valuing time. These problems seriously limit the contribution Net Energy Analysis can make to allocation decisions, and allocation Is the central problem of energy policy.
An Overview Of Potential Impacts Of Changing Petroleum Energy Prices On Grain Farms, Jean-Paul Chavas, James B. Kliebenstein
An Overview Of Potential Impacts Of Changing Petroleum Energy Prices On Grain Farms, Jean-Paul Chavas, James B. Kliebenstein
UMR-MEC Conference on Energy / UMR-DNR Conference on Energy
Since the early 1970s world fossil fuel energy prices have risen dramatically. Assuming there is no significant breakthrough in en- ergy technology, the world will see further increases in energy prices. These changes will likely lead to economic adjustments in U. S. agriculture. A firm level linear programming model is used to evaluate what some of these adjustments could be on a Missouri grain farm. To obtain expected energy price affects on production mixes, energy prices are changed parametrically. Potential crop adjustments are from corn to single-crop soybeans to wheat as energy prices increase. Fertilization adjustments are from chemical to …
The Impact Of Changing Net Returns On Minimum Energy Requirements For Grain Farms, James B. Kliebenstein, Robert M. Finley, Douglas C. Farthing
The Impact Of Changing Net Returns On Minimum Energy Requirements For Grain Farms, James B. Kliebenstein, Robert M. Finley, Douglas C. Farthing
UMR-MEC Conference on Energy / UMR-DNR Conference on Energy
With sources of energy more restricted and higher priced, optimal combinations of enterprises must logically be considered on the basis of energy efficiency. One method of ascertaining this efficiency is to optimize solutions for given levels of income on the basis of energy used (e.g., the objective function was in terms of energy kilocalories). In general, soybeans were most feasible at lower levels of income regardless of farm size and labor circumstance. As income levels increased, double-cropping (wheat soybeans) was first substituted and finally corn at highest income levels.
Human Resources For Energy Systems: Alternative Strategies Of Allocation, Curtis H. Adams, Burns E. Hegler
Human Resources For Energy Systems: Alternative Strategies Of Allocation, Curtis H. Adams, Burns E. Hegler
UMR-MEC Conference on Energy / UMR-DNR Conference on Energy
The choice of strategies in establishing manpower policy for energy is critical for the attairment of energy goals. Three alternative strategies are considered with the tradeoffs of each evaluated.