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An Evaluation of Two Alternative Supply Models of Natural Gas

Two natural gas models currently used to forecast the response of exploration and production to well head price deregulation are examined. These models are based on the same theoretical exploration and discovery process, but differ in the estimation of this process.One model is purely econometric wh...

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Published in:Bell Journal of Economics 1977-04, Vol.8 (1), p.289-302
Main Author: Neri, John A.
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Language:English
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description Two natural gas models currently used to forecast the response of exploration and production to well head price deregulation are examined. These models are based on the same theoretical exploration and discovery process, but differ in the estimation of this process.One model is purely econometric while the other combines econometric and engineering elements. Each model has been simulated over the historical period 1965-1972 and the forecast period 1975-1980.While the historical simulations are quite similar, the forecasts are not. Reasons for the forecast differences are given.
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identifier ISSN: 0361-915X
ispartof Bell Journal of Economics, 1977-04, Vol.8 (1), p.289-302
issn 0361-915X
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language eng
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source International Bibliography of the Social Sciences (IBSS); EBSCOhost Econlit with Full Text; JSTOR Archival Journals and Primary Sources Collection
subjects Commercial production
Drilling
Econometrics
Economic forecasting models
Economic modeling
Economic models
Error rates
Evaluation
Forecasting models
Modeling
Natural gas supply
Short Articles
Statistical forecasts
title An Evaluation of Two Alternative Supply Models of Natural Gas
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