Abstract
A simultaneous econometric model consisting of 37 stochastic equations and 3 identities which captures the decisions affecting the supply of new discoveries, the size of proven reserves, the production out of reserves, the demands and supplies of refined products and the imports of crude oil and refined products, is estimated. Simulation with the econometric model analyzed the effect of alternative pricing policies on domestic oil production, consumption and imports.
Recommended Citation
Pagoulatos, Angelos; Debertin, David; and Pagoulatos, Emilio, "Economic Incentives in the Exploration, Extraction and Refining of Crude Oil" (1977). UMR-MEC Conference on Energy / UMR-DNR Conference on Energy. 306, pp. 427-436.
https://scholarsmine.mst.edu/umr-mec/306
Meeting Name
4th Annual UMR-DNR Conference on Energy (1977: Oct. 11-13, Rolla, MO)
Document Type
Article - Conference proceedings
Session
Energy Resources
Document Version
Final Version
File Type
text
Language(s)
English
Rights
© 1977 University of Missouri--Rolla, All rights reserved.
Publication Date
13 Oct 1977
