Oil & natural resource economics
This paper surveys the history of the oil industry with a particular focus on the events associated with changes in the price of oil from the perspectives of oil production and oil reserves. The discussions include Hotelling’s theory on economics of non-renewable resource, peak oil theory, Hubbert’s...
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| Main Authors: | , |
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| Format: | Conference or Workshop Item |
| Language: | English |
| Published: |
2015
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| Subjects: | |
| Online Access: | http://repo.uum.edu.my/17050/1/17.pdf http://repo.uum.edu.my/17050/ |
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| Summary: | This paper surveys the history of the oil industry with a particular focus on the events associated with changes in the price of oil from the perspectives of oil production and oil reserves. The discussions include Hotelling’s theory on economics of non-renewable resource, peak oil theory, Hubbert’s curve and prediction on future oil production and reserves based upon the recent developments in the world supply of oil. |
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