Costs of aggregate hydrocarbon reserve additions
Name
2002-011.pdf
Size
315.46 KB
Format
Adobe PDF
Checksum (MD5)
20379f0b3682d46074bafe290d488615
Author(s)
Adelman, Morris Albert
Watkins, G. C.
Date Issued
2002
Publisher
MIT Center for Energy and Environmental Policy Research
Series/Report no.
MIT-CEEPR (Series) ; 02-011WP.
Abstract
In what follows, we highlight problems created by aggregation using fixed conversion coefficients (Section 1). We then offer an economic index approach as an alternative, one that recognizes changing relative values of oil and gas over time (Section 2). This aggregation technique - the Divisia index - is applied to US reserve and in situ price data from 1982 to year 2001 to derive implicit shifts in unit costs of aggregated oil and gas reserve additions; these results are compared with those from the traditional fixed coefficient measures (Section 3). Concluding remarks are in Section 4.
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