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- W246976627 abstract "A study of the US as a potential source of future oil supplies and the extent to which resources are efficiently allocated and employed in the search for new sources raises questions about the relative interest and efficiency with which the majors are developing domestic reserves when compared with independent drillers. The study finds the independents significantly more cost-efficient, which lends credibility to arguments favoring divestiture. Some of the cost/benefit differentials raise doubts about the true intentions of the major producers. The wellhead excise tax, however, may threaten the preeminent role of the independent by reducing cash flow. The conclusion is that the efficiency rationale as a relevant standard for formulating domestic energy policy is no longer acceptable. 3 tables." @default.
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- W246976627 date "1985-06-01" @default.
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- W246976627 title "Majors vs. independents: a test of the efficiency rationale as a policy guide for domestic oil-drilling activity" @default.
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