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The Competitive Floor to World Oil Prices

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  • M. A. Adelman

Abstract

Years ago, I suggested that there was no current or impending oil shortage. Growing consumption, static U.S. production, and other reasons offered then and now did not imply that prices would rise. That conclusion only made sense if the pressure on reserves was increasing, a situation that would be signaled by rising costs of maintaining and expanding output. There was and is no sign of this.

Suggested Citation

  • M. A. Adelman, 1986. "The Competitive Floor to World Oil Prices," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 9-31.
    • Handle: RePEc:aen:journl:1986v07-04-a01
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    Citations

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    Cited by:

    1. D. Chapman & N. Khanna, 2000. "World oil: the growing case for international policy," Contemporary Economic Policy, Western Economic Association International, vol. 18(1), pages 1-13, January.
    2. Duane Chapman & Neha Khanna, 2001. "An Economic Analysis Of Aspects Of Petroleum And Military Security In The Persian Gulf," Contemporary Economic Policy, Western Economic Association International, vol. 19(4), pages 371-381, October.
    3. Robert D. Cairns and Graham A. Davis, 2015. "Mineral Depletion and the Rules of Resource Dynamics," The Energy Journal, International Association for Energy Economics, vol. 0(Adelman S).
    4. Giraud, Pierre-Noel, 1995. "The equilibrium price range of oil : Economics, politics and uncertainty in the formation of oil prices," Energy Policy, Elsevier, vol. 23(1), pages 35-49, January.
    5. S. Gurcan Gulen, 1996. "Is OPEC a Cartel? Evidence from Cointegration and Causality Tests," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 43-57.
    6. Greene, David L & Jones, Donald W & Leiby, Paul N, 1998. "The outlook for US oil dependence," Energy Policy, Elsevier, vol. 26(1), pages 55-69, January.
    7. Sterman, John & Richardson, George P. & Davidsen, Pål I., 1987. "Modeling the estimation of petroleum resources in the United States," Working papers 1900-87., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    8. Chapman, Duane & Khanna, Neha, 1999. "An Economic Analysis of Petroleum and Military Security in the Persian Gulf," Staff Papers 121157, Cornell University, Department of Applied Economics and Management.
    9. Harry R. Clarke & William J. Reed, 1990. "Applications of Optimal Stopping in Resource Economics," The Economic Record, The Economic Society of Australia, vol. 66(3), pages 254-265, September.
    10. Neha Khanna & Duane Chapman, 2010. "Guns And Oil: An Analysis Of Conventional Weapons Trade In The Post‐Cold War Era," Economic Inquiry, Western Economic Association International, vol. 48(2), pages 434-459, April.
    11. Reynolds, Douglas B., 1999. "Modeling OPEC behavior: theories of risk aversion for oil producer decisions," Energy Policy, Elsevier, vol. 27(15), pages 901-912, December.
    12. Marian Radetzki, 1991. "Price prospects in Western Europe for internationally traded fossil fuels until 2000," Natural Resources Forum, Blackwell Publishing, vol. 15(4), pages 292-301, November.
    13. Anton Nakov & Galo Nuño, 2011. "A general equilibrium model of the oil market," Working Papers 1125, Banco de España.

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    JEL classification:

    • F0 - International Economics - - General

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