IDEAS home Printed from https://ideas.repec.org/a/rje/bellje/v5y1974iautumnp633-645.html
   My bibliography  Save this article

The Regulatory Implications of Three Alternative Econometric Supply Models of Natural Gas

Author

Listed:
  • Robert S. Pindyck

Abstract

Three different econometric models of natural gas exploration and discovery have appeared in recent issues of this Journal. By estimating all of them over the same period and with the same data base, and then by simulating each of them as part of a complete supply-demand model, we can compare the regulatory policy implications of each formulation. The reestimated models are seen to have very different price elasticities from their original versions, indicating possible structural change in the industry over the past two decades. The policy implications, in terms of ceiling price increases necessary to eliminate the current shortage of gas, differ considerably among the formulations and indicate no consensus on how gas supplies are likely to respond to price increases.

Suggested Citation

  • Robert S. Pindyck, 1974. "The Regulatory Implications of Three Alternative Econometric Supply Models of Natural Gas," Bell Journal of Economics, The RAND Corporation, vol. 5(2), pages 633-645, Autumn.
    • Handle: RePEc:rje:bellje:v:5:y:1974:i:autumn:p:633-645
    as

    Download full text from publisher

    File URL: http://links.jstor.org/sici?sici=0005-8556%28197423%295%3A2%3C633%3ATRIOTA%3E2.0.CO%3B2-K&origin=repec
    File Function: full text
    Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mohn, Klaus & Osmundsen, Petter, 2008. "Exploration economics in a regulated petroleum province: The case of the Norwegian Continental Shelf," Energy Economics, Elsevier, vol. 30(2), pages 303-320, March.
    2. ten Cate, Arie & Mulder, Machiel, 2007. "Impact of the oil price and fiscal facilities on offshore mining at the Dutch Continental Shelf," Energy Policy, Elsevier, vol. 35(11), pages 5601-5613, November.
    3. Forbes, Kevin F. & Zampelli, Ernest M., 2002. "Technology and the exploratory success rate in the U.S. onshore," The Quarterly Review of Economics and Finance, Elsevier, vol. 42(2), pages 319-334.
    4. Güntner, Jochen H.F., 2019. "How do oil producers respond to giant oil field discoveries?," Energy Economics, Elsevier, vol. 80(C), pages 59-74.
    5. Paul L. Joskow & Roger G. Noll, 1981. "Regulation in Theory and Practice: An Overview," NBER Chapters, in: Studies in Public Regulation, pages 1-78, National Bureau of Economic Research, Inc.
    6. Managi, Shunsuke & Opaluch, James J. & Jin, Di & Grigalunas, Thomas A., 2005. "Technological change and petroleum exploration in the Gulf of Mexico," Energy Policy, Elsevier, vol. 33(5), pages 619-632, March.
    7. Wiser, Ryan & Bolinger, Mark, 2007. "Can deployment of renewable energy put downward pressure on natural gas prices?," Energy Policy, Elsevier, vol. 35(1), pages 295-306, January.
    8. Dahl, Carol & Duggan, Thomas E., 1998. "Survey of price elasticities from economic exploration models of US oil and gas supply," Journal of Energy Finance & Development, Elsevier, vol. 3(2), pages 129-169.
    9. Harry Patria, 2021. "The Role of Success Rate, Discovery, Appraisal Spending, and Transitioning Region on Exploration Drilling of Oil and Gas in Indonesia in 2004–2015," Economics and Finance in Indonesia, Faculty of Economics and Business, University of Indonesia, vol. 67, pages 183-194, Desember.
    10. Machiel Mulder & Arie ten Cate & Ali Aouragh & Joeri Gorter, 2004. "Gas exploration and production at the Dutch continental shelf: an assessment of the 'Depreciation at Will'," CPB Document 66, CPB Netherlands Bureau for Economic Policy Analysis.
    11. Chen, Yan & Xu, Jintao, 2018. "The Shale Gas Boom in the US: Productivity Shocks and Price Responsiveness," EfD Discussion Paper 18-17, Environment for Development, University of Gothenburg.
    12. Machiel Mulder & Arie ten Cate & Ali Aouragh & Joeri Gorter, 2004. "Gas exploration and production at the Dutch continental shelf: an assessment of the 'Depreciation at Will'," CPB Document 66.rdf, CPB Netherlands Bureau for Economic Policy Analysis.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rje:bellje:v:5:y:1974:i:autumn:p:633-645. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://www.rje.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.