An Application of Integer Programming to Economic Studies of Offshore Oil Development

Since the « Oil Crisis » of 1973 increasing attention has been paid to the supply and to the availability of the supply of energy. In particular, there has, over the past few years, been a reversal of the attitude that there is an adequate supply of oil for use by an expanding world economy and a nu...

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Bibliographic Details
Published in:Recherches économiques de Louvain 1978-01, Vol.44 (1), p.53-69
Main Authors: ROSING, K. E., ODELL, P. R.
Format: Article
Language:English
Subjects:
Economic recovery
Gulfs
Hexagons
Oil companies
Oil fields
Oil pools
Oil recovery
Oil wells
Rocks
Water wells
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Summary:Since the « Oil Crisis » of 1973 increasing attention has been paid to the supply and to the availability of the supply of energy. In particular, there has, over the past few years, been a reversal of the attitude that there is an adequate supply of oil for use by an expanding world economy and a number of increasingly pessemistic views have reveived wide publicity. We shall not, here, continue our arguments that these studies are overly pessemistic. We think it necessary to point out, however, that the modification of the world energy system to accommodate a new major energy source will be a lengthy, complicated and expensive affair; whether that new source is coal, nuclear (fission or fusion), solar, saltwater/freshwater ion transfer or rubber bands.
ISSN:0770-4518
1782-1495
DOI:10.1017/S0770451800080489