Date of Award
6-2008
Document Type
Union College Only
Degree Name
Bachelor of Arts
Department
Economics
First Advisor
Shelton Schmidt
Language
English
Keywords
energy, price, states, fossil, fuel
Abstract
As energy prices have increased, one question that has received little attention is the effect that geography has on the price of energy. Oil, coal, and natural gas are geologically concentrated, and by studying the effects this has on price in the United States, one may learn that proximity to an energy source has a significant impact on the price of that energy source. Likewise, a concentration of fossil fuel in a certain state and the correspondingly low energy prices may lead to fewer changes in energy policy in that state. These factors may lead to wide differences in opinions about energy and the environment among the 50 United States and may retard the development of a national energy policy. Using panel data from all 50 states, a price equation and a consumtion equation, I estimate how significant the impact of fossil fuel production on price and policy is. I conclude that fossil fuel production does significantly affect price. I also conclude that states with little or no oil, natural gas, and refining capacity are significantly more likely to use renewable energy resources.
Recommended Citation
Yund, Walter C., "The effects of non-renewable energy reserves : price and policy" (2008). Honors Theses. 1508.
https://digitalworks.union.edu/theses/1508