Description
A.Instructions:
1. Write your full name on the first page.
2. Write double-spaced summary/comments (three paragraphs typed) on each case study.
3. Each paragraph must contain three sentences and is worth 2 or 3 points.
4. Use Times New Roman, one inch margins, and 12 point font.
B.
Question # 1: What is a Hubbert curve? Has the Hubbert curve been accurate for the United States? Explain.
Question # 2: List and briefly discuss three reasons why the United States continues to rely heavily on fossil fuels as an energy source.
Question # 3: Why are externalities so important to energy policy analysis? Briefly discuss how the externality costs differ for various energy sources.
Question # 4: List and briefly discuss three policies that could be used to encourage a transition towards renewable energy sources.
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Running Head: CASE STUDY ANALYSIS
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Case Study Analysis
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CASE STUDY ANALYSIS
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1. Hubbert curve
Hubbert curve is a statistical approximation of the rate of production of a certain resource
over a period of time. Hubbert curve has been mostly applied in the statistics of the production of
oil, by giving a symmetrical logistic distribution curve of the production of oil. This prediction
takes on a mythological status of a bell curve with the peaks expected after a certain period.
Hubbert curve has been widely used in the United States of America in oil production. It
has gained huge credibility US for accurately predicting the peak of oil and gas production in a
particular region hence production can be maximized before the oil and gas level starts to decline
at the core. The Hubbert curve is therefore regarded...