GOVERNMENT PRICE POLICIES AND THE AVAILABILITY OF CRUDE OIL

This study examines the effects of price incentives on the availability of petroleum. Expected sustained higher crude oil prices to domestic producers constitute an incentive to increase both exploratory drilling and secondary and tertiary recovery of oil as well as production out of reserves. Reserve-production ratios tend to fall under high prices. Equalization of the domestic price to the real world price would make the U.S. self sufficient within a six year period. Constant prices result in no new additions to reserves after a five year period and very low production levels. Imports reach sixty-five percent of domestic consumption.Resource /Energy Economics and Policy,

DISCUSSION: THE ROLE OF FOOD AND AGRICULTURE IN THE INTERNATIONAL AFFAIRS OF THE UNITED STATES

International Relations/Trade,

EFFECTS OF EEC AGRICULTURAL POLICY ON EUROPEAN IMPORTS OF MEAT, DAIRY PRODUCTS, AND EGGS

International Relations/Trade,

FOREIGN TRADE, PROTECTION, AND MULTINATIONAL ACTIVITY IN U.S. FOOD PROCESSING INDUSTRIES

International Relations/Trade,

Testing for Oligopoly and Oligopsony Power

This paper extends the conjectural approach in industrial organization to the analysis of imperfections in output and factor markets simultaneously. Starting from the specification of a production function, the econometric analysis is based on the formulation and estimation of a simultaneous equation model consisting of a production function, first order conditions associated with factor employment, and two conjectural elasticities to parametrize the industry's oligopoly and oligopsony equilibria. As an example, we provide an application to the U.S. meat packing industry. Our results suggest that the industry excercised market power in both the output (meat) market and the factor (live animals) market.Industrial Organization,

ALTERNATIVE SCENARIOS OF ENERGY USE IN U.S. CROP PRODUCTION

Crop Production/Industries, Resource /Energy Economics and Policy,

OPTIMAL MANAGEMENT STRATEGIES FOR ALFALFA PRODUCTION WITHIN A TOTAL FARM PLAN

This paper examines the impacts of alternative management strategies for the production of alfalfa within the context of a total farm plan. A linear programming model is used to represent a 600-acre farm which can grow either grain crops or alfalfa. Alfalfa production competes with the grain crops for available land, labor, machinery, and field time over a calendar of tillage, plating, cutting, spraying, and harvesting activities. The profitability of an acre of alfalfa and the contribution of alfalfa to net returns for the farm varies quite widely depending on the particular alfalfa management strategy selected.Farm Management,