The adequacy of Hubbert’s curves for the forecasting of the rates of oil extraction
Andrei Bazhanov and
Authors registered in the RePEc Author Service: Alexey S. Vyskrebentsev ()
MPRA Paper from University Library of Munich, Germany
Our approach is based on the use of the Durbin-Watson statistic and other statistical criteria for the specification of the number of the nonlinear summands in the empirical model of M.K. Hubbert. Given alternate criteria we compare the dynamics of extraction over recent years for the USA and Russia. We compare simulated dynamics to data on recoverable oil reserves for recent years.
Keywords: Hubbert’s curve; Durbin-Watson statistic (search for similar items in EconPapers)
JEL-codes: Q31 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cis, nep-ene and nep-for
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:479
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