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Oil: Its Time Allocation and Project Independence

Paul Davidson

Chapter 25 in Inflation, Open Economies and Resources, 1991, pp 319-352 from Palgrave Macmillan

Abstract: Abstract In 1973, the onset of an energy crisis in a world that for a century had been plagued by potential oversupply of fossil fuels at existing market prices caught many knowledgeable observers by surprise. The energy shortage immediately generated a search for a scapegoat or a rational explanation of the predicament of the highly developed, capitalist economies, heavily based on energy resources, of the United States, Western Europe, and Japan.

Keywords: Time Allocation; Base Period; User Cost; Monopoly Power; Economic Rent (search for similar items in EconPapers)
Date: 1991
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DOI: 10.1007/978-1-349-11516-7_25

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