"Technical Change and Petroleum Drilling Costs": Comment

IN A RECENT ARTICLE, E. ANTHONY COPP PUBLISHED AN ANALYSIS OF CHANGES IN WELL-DRILLING COSTS AND TECHNOLOGY WHICH REFUTES EARLIER FINDINGS THAT NEW WELL-DRILLING TECHNOLOGY HAS SUBSTANTIALLY OFFSET THE INCREASING COST OF RESOURCE SCARCITY. THE ARTICLE BY COPP IS IN ERROR DUE TO HIS DEFINITION OF KEY...

Full description

Saved in:
Bibliographic Details
Published in:Land economics 1976-02, Vol.52 (1), p.103-108
Main Authors: Farnsworth, Richard L., Norgaard, Richard B.
Format: Article
Language:English
Subjects:
Cost estimates
Costs
Drilling
Drilling costs
Economic costs
Emerging technology
Gas wells
Marginal costs
Petroleum
Petroleum industry
Short Papers
Technological change
Water wells
Citations: Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:IN A RECENT ARTICLE, E. ANTHONY COPP PUBLISHED AN ANALYSIS OF CHANGES IN WELL-DRILLING COSTS AND TECHNOLOGY WHICH REFUTES EARLIER FINDINGS THAT NEW WELL-DRILLING TECHNOLOGY HAS SUBSTANTIALLY OFFSET THE INCREASING COST OF RESOURCE SCARCITY. THE ARTICLE BY COPP IS IN ERROR DUE TO HIS DEFINITION OF KEY CONCEPTS. THE ARTICLE IS WEAK DUE TO CONFUSION BETWEEN TOTAL COSTS, MARGINAL DEPTH COSTS, AND MARGINAL COST, BETWEEN CHANGES IN TECHNOLOGY, THE RESOURCE BASE, AND POSSIBLY SUPPLY AND DEMAND, AND LASTLY, DUE TO THE INCOMPLETE REPRESENTATION OF THE WORKS OF OTHERS. CHARTS. REFERENCES.
ISSN:0023-7639
1543-8325
DOI:10.2307/3144991