Limits to survival

Journal Article · Thu Jul 01 04:00:00 EDT 1976 · Hydrocarbon Process.; (United States)

OSTI ID:6027496

Thompson, R G; Lievano, R J; Calloway, J A

Results of a University of Houston economic modeling analysis show how different pricing policies for crude oil and natural gas will affect market-clearing prices, production, imports, use, and costs of US fossil energy in 1985. An analysis that coupled continued regulation of domestic crude-oil and interstate natural-gas prices at current levels with a low supply response to price resulted in large imports of crude oil, low domestic contributions to supply, high domestic use of fossil energy, extremely high bills for fossil energy, and large exchange payments to foreign producers. Deregulation of interstate natural gas with continued regulation of crude-oil prices produced a much more optimistic picture projecting stabilizing import levels of crude oil, large domestic contributions to supply, significant conservation and substitution effects, relatively low fossil-energy bills, and manageable payments to foreign producers. The model for complete deregulation of crude oil and natural gas prices resulted in a favorable but guarded picture for the fossil-energy sector - including large domestic contributions to supply, small imports of crude oil, favorable conservation and substitution effects in energy use, and modest payments to foreign crude-oil producers. Policy considerations and regulatory and supply specifications were also evaluated for such changes as the competitive purchase and use of petroleum fuels by electric utilities, elimination of sulfur emissions standards, lower import prices for crude oil, a nuclear moratorium, and a high rather than a low supply response to price.

• OSTI ID: 6027496
• Journal Information: Hydrocarbon Process.; (United States), Journal Name: Hydrocarbon Process.; (United States) Vol. 55; ISSN HYPRA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
03 NATURAL GAS
030600 -- Natural Gas-- Economic
Industrial
& Business Aspects
DEREGULATION
ECONOMICS
ENERGY CONSERVATION
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
IMPORTS
NATURAL GAS
PETROLEUM
PRICES