Economics of the Energy Industries

WILLIAM SPANGAR PEIRCE is Professor of Economics at Case Western Reserve. He is the author of Bureaucratic Failure and Public Expenditure(81) and co-author of hnological Progress and Industrial Leadership(84).

A well-written and extremely informative book about our energy industries, their significance to the economy, and how economists analyze the problems associated with energy production and consumption. The reader with only a cursory knowledge of economic principles, as well as trained economists, will learn much from Peirce's incisive and sometimes acerbic examination of the coal, oil, natural gas, electric utility, nuclear power, and the alternative energy industries. Choice review of First EditionEconomics of the Energy Industries, Second Edition, examines the industry, in general, and its component industries (petroleum, natural gas, coal, electricity, nuclear, and alternative fuels). Dr. William Peirce blends technical and historical information about the component industries and analyzes the mixture with economic tools. The text provides the reader with a combination of the analytical concepts, the historical and institutional background necessary to understand the role of energy in modern economies, and the issues involved in public policy related to energy. Dr. Peirce incorporates environmental issues as well as the current status of industry regulation in his thorough and completely revised edition.

A comprehensive overview of the field of energy economics focusing on all the component industries as well as environmental and regulatory issues.

Figures and TablesPrefaceAn Economic Approach: Measures and AnalysisEnergy: An Economist's ViewEnergy FlowsMarkets, Prices, and EfficiencyEnergy and Economic GrowthGuessing about Future Consumption and ProductionThe Extractive IndustriesReserves and ResourcesThe Economic Theory of the MineThe Coal IndustryThe Oil IndustryThe Natural Gas IndustryThe Energy Conversion IndustriesThe Electric Utility IndustryNuclear PowerOther Sources of EnergyProblems and PoliciesHealth, Safety, and EnvironmentGovernment PolicySelected ReferencesIndex