Helium: Investments in the Future

Dennis Epple and Lester Lave

Bell Journal of Economics, 1980, vol. 11, issue 2, 617-630

Abstract: This article develops and implements a method for evaluating an exhaustible resource (helium) whose rate of production is governed by the rate of production of a second exhaustible resource (natural gas). We determine optimum future price and consumption paths, optimal production rates from various sources, and optimal storage policies for a number of scenarios. We conduct a sensitivity analysis to find which of several possible storage policies performs best for a variety of demand growth rates and discount rates.

Date: 1980
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