Energy demand theory
Kenneth B. Medlock III
Energy is crucial to the improvement of social and economic welfare. It is necessary to
continued economic activity in modern industrialized nations, and its absence would
result in cessation of
This is a simple model of OPEC as a dominant firm. OPEC is a least cost producer
that holds excess production capacity. All other firms (the fringe) act competitively.
ECON 437 Energy Economics HW #2 Due November 7th
Instructions: You may work in teams when solving the problems, but you must turn in your own assignment.
Assume OPEC countries can produce oil at very low marginal cost and seek to exercise some
Californias Flawed Market
What Went Wrong and How to Fix it
By Fereidoon P. Sioshansi*
Californias Grand Experiment in ESI Rmtrucluring
California was among the rst states in the United States
to radically restructure its electricity supply industry (ESI)