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Technological Change, Depletion, and the U.S. Petroleum Industry

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  • John T. Cuddington
  • Diana L. Moss

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  • John T. Cuddington & Diana L. Moss, 2001. "Technological Change, Depletion, and the U.S. Petroleum Industry," American Economic Review, American Economic Association, vol. 91(4), pages 1135-1148, September.
    • Handle: RePEc:aea:aecrev:v:91:y:2001:i:4:p:1135-1148
    Note: DOI: 10.1257/aer.91.4.1135
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    References listed on IDEAS

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    1. Heal, Geoffrey M., 1993. "The optimal use of exhaustible resources," Handbook of Natural Resource and Energy Economics, in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 3, chapter 18, pages 855-880, Elsevier.
    2. Livernois, John R & Ryan, David L, 1989. "Testing for Non-jointness in Oil and Gas Exploration: A Variable Profit Function Approach," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 30(2), pages 479-504, May.
    3. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.
    4. Harold Hotelling, 1931. "The Economics of Exhaustible Resources," Journal of Political Economy, University of Chicago Press, vol. 39(2), pages 137-137.
    5. Epple, Dennis & Londregan, John, 1993. "Strategies for modeling exhaustible resource," Handbook of Natural Resource and Energy Economics, in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 3, chapter 22, pages 1077-1107, Elsevier.
    6. Devarajan, Shantayanan & Fisher, Anthony C, 1981. "Hotelling's "Economics of Exhaustible Resources": Fifty Years Later," Journal of Economic Literature, American Economic Association, vol. 19(1), pages 65-73, March.
    7. Partha Dasgupta & Geoffrey Heal, 1974. "The Optimal Depletion of Exhaustible Resources," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(5), pages 3-28.
    8. Livernois, John R & Uhler, Russell S, 1987. "Extraction Costs and the Economics of Nonrenewable Resources," Journal of Political Economy, University of Chicago Press, vol. 95(1), pages 195-203, February.
    9. Morton I. Kamien & Nancy L. Schwartz, 1978. "Optimal Exhaustible Resource Depletion with Endogenous Technical Change," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 45(1), pages 179-196.
    10. John R. Livernois, 1988. "Estimates of Marginal Discovery Costs for Oil and Gas," Canadian Journal of Economics, Canadian Economics Association, vol. 21(2), pages 379-393, May.
    11. Pindyck, Robert S, 1978. "The Optimal Exploration and Production of Nonrenewable Resources," Journal of Political Economy, University of Chicago Press, vol. 86(5), pages 841-861, October.
    12. Levin, Richard C, 1986. "A New Look at the Patent System," American Economic Review, American Economic Association, vol. 76(2), pages 199-202, May.
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    Citations

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    Cited by:

    1. Boyce, John R. & Nøstbakken, Linda, 2011. "Exploration and development of U.S. oil and gas fields, 1955-2002," Journal of Economic Dynamics and Control, Elsevier, vol. 35(6), pages 891-908, June.
    2. Lindholt, Lars, 2015. "The tug-of-war between resource depletion and technological change in the global oil industry 1981–2009," Energy, Elsevier, vol. 93(P2), pages 1607-1616.
    3. Lutao Ning & Martha Prevezer & Yuandi Wang, 2014. "Top Management Turnover and Corporate Governance in China: effects on innovation performance," Working Papers 53, Queen Mary, University of London, School of Business and Management, Centre for Globalisation Research.
    4. Rodriguez, Xose Anton & Arias, Carlos, 2008. "The effects of resource depletion on coal mining productivity," Energy Economics, Elsevier, vol. 30(2), pages 397-408, March.
    5. Mardones, Cristian & del Rio, Ricardo, 2019. "Correction of Chilean GDP for natural capital depreciation and environmental degradation caused by copper mining," Resources Policy, Elsevier, vol. 60(C), pages 143-152.
    6. Rodríguez, Xosé A. & Arias, Carlos & Rodríguez-González, Ana, 2015. "Physical versus economic depletion of a nonrenewable natural resource," Resources Policy, Elsevier, vol. 46(P2), pages 161-166.
    7. 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.
    8. Güntner, Jochen H.F., 2019. "How do oil producers respond to giant oil field discoveries?," Energy Economics, Elsevier, vol. 80(C), pages 59-74.
    9. Çakir Melek, Nida, 2020. "Productivity, Nationalization, And The Role Of “News”: Lessons From The 1970s," Macroeconomic Dynamics, Cambridge University Press, vol. 24(5), pages 1264-1298, July.
    10. Imran Shah & Linyu He & Richard Hatfield & Mohamed Haroon, 2020. "Outward FDI: National and Regional Policy Implications for Technology Innovation," Department of Economics Working Papers 77/20, University of Bath, Department of Economics.
    11. Hart, Rob, 2012. "The economics of natural resources: Understanding and predicting the evolution of supply and demand," Working Paper Series 2012:01, Swedish University of Agricultural Sciences, Department Economics.
    12. Bhoi, P.R. & Ouedraogo, A.S. & Soloiu, V. & Quirino, R., 2020. "Recent advances on catalysts for improving hydrocarbon compounds in bio-oil of biomass catalytic pyrolysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 121(C).
    13. Brandt, Adam R., 2010. "Review of mathematical models of future oil supply: Historical overview and synthesizing critique," Energy, Elsevier, vol. 35(9), pages 3958-3974.

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    More about this item

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Q31 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Demand and Supply; Prices
    • L71 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Hydrocarbon Fuels

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