RELATIONSHIP BETWEEN SUPPLY/DEMAND AND PRICING FOR ALTERNATE FUELS IN TEXAS: A STUDY IN ELASTICITIES
The primary objectives of the energy supply, demand and price analysis studies were to determine (1) how profit-maximizing producers of oil and gas will increase production in response to higher oil and gas prices, (2) how cost conscious users of oil and gas will decrease use in response to higher oil and gas prices, and (3) how these producer and user responses will affect the market-clearing prices of oil and gas in Texas and in the nation. Responses of producers to price were developed to show the effects of higher oil and gas prices on the exploration and development of new reserves and the production of oil and gas from presently known and newly developed reserves. Responses of users to price were developed to show the effects of higher oil and gas prices on the use of important petroleum products and their derivatives in both industrial production and final consumption. The market-clearing prices represent the minimum oil and gas prices needed to guarantee U.S. self-sufficiency in oil and gas in 1985.
- Prepared in cooperation with Houston Univ., Tex.
Texas Governor's Energy Advisory CouncilAustin, TX United States
National Science FoundationAdvanced Energy Research and Technology Division
Washington, DC United States 20550
University of Houston4800 Calhoun Road
Houston, TX United States 77204
- Thompson, Russell G
- Publication Date: 1975-1-1
- Pagination: 71 p.
- TRT Terms: Coal; Commercial buildings; Cost estimating; Costs; Crude oil; Demand; Dwellings; Electric power supply; Electricity; Energy; Energy resources; Equipment; Estimates; Forecasting; Fuel consumption; Fuels; Gasoline; Industries; Mathematical models; Natural gas; Oils; Petroleum products; Prices; Productivity; Supply; Transportation
- Uncontrolled Terms: Supply and demand
- Geographic Terms: Texas
- Old TRIS Terms: Electric power demand; Supply economics
- Subject Areas: Economics; Energy; Research; Society; Transportation (General);
- Accession Number: 00092732
- Record Type: Publication
- Source Agency: National Technical Information Service
- Report/Paper Numbers: NSF/RA/N-74-226
- Contract Numbers: NSF-GI-44085, NSF-SIA73-05812
- Files: TRIS
- Created Date: Nov 5 1975 12:00AM