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NATIONAL ACCOUNTING FOR NON‐RENEWABLE NATURAL RESOURCES IN THE MINING INDUSTRIES *
Author(s) -
Steven Landefeld J.,
Hines James R.
Publication year - 1985
Publication title -
review of income and wealth
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.024
H-Index - 57
eISSN - 1475-4991
pISSN - 0034-6586
DOI - 10.1111/j.1475-4991.1985.tb00495.x
Subject(s) - natural resource , national accounts , economics , renewable resource , non renewable resource , renewable energy , natural resource economics , oil and natural gas , environmental economics , accounting , fossil fuel , engineering , electrical engineering , waste management , ecology , biology
This paper discusses alternatives to current national accounting procedures for non‐renewable natural resources in the mining industries. Three alternative approaches to valuing the discovery and use of these resources are compared and alternative estimates for U.S. oil and gas for the period 1948‐79 are presented. The focus is on the conceptual and empirical difficulties associated with valuing non‐renewable natural resources.