According to “Hotelling rule” price of an “exhaustible resource” exceeds its marginal cost of production in perfect competition equilibrium by amount equal to the opportunity cost of depleting the resource now rather than next periods. This cost is called “scarcity rent”. Oil price exceeds its marginal extraction costs significantly. This can be attributed two different sources: effect of scarc...

Cedar wood oil is ranked the tenth essential oil in the world, it can be obtained from fir wood waste, and high added value Cedar series perfumes are obtained from Cedar wood oil by chemical processing. Their aroma is very unique and cannot be replaced. At present, the cedar wood resources are dwindling; a serious influence had taken place in the flavor and fragrance industry. Study found that ...

The oil shale resources are very abundant with its reserve three times as much as world’s proven oil reserve. However, by the limitations of traditional technology and mining methods, the development of oil shale technology is restricted to a great extent. Now researchers are studying the in-situ retorting technology through heating the underground oil shale directly. Then the released oil and ...

Hydraulic fracturing—the injection of pressurized fluid, often water, to increase recovery of oil or gas—has become increasingly popular in combination with horizontal drilling. Hydraulic fracturing improves production from a well, but requires a significant amount of water to do so and could put pressure on existing water resources, especially in water-stressed areas. To supply water needs, so...

Many scholars in China have done a lot of research on regionalization of agricultural resources in the Huang-Huai-Hai Plain, but there is no quantitative research on agriculture of the whole plain. By using qualitative and quantitative analysis based on the basic data collected over 300 counties in the Huang-Huai-Hai Plain, considering such indicators as the natural resources of the plains and ...