Author: Joeri Frederik De Wit
Publisher:
ISBN: 9781303444388
Category :
Languages : en
Pages :
Book Description
"The Geysers" is a geothermal steam to electricity field in California. Over a period of 60 years, The Geysers has witnessed the entry/exit of multiple firms as total steam production grew, peaked, and then began to decline. Using a conceptual model for the extraction of steam from a vapor dominated geothermal reservoir I show that this pattern of field development may, to some extent, be a result of spatial externalities. Spatial externalities arise because fluids in the reservoir are mobile. Production and injection decisions of one well operator can affect the flow rate of wells owned by other operators. When independently profit maximizing operators fail to take into account interdependence between wells, they extract fluids at a rate which exceeds that which would have maximized field-wide profits. The welfare loss that arises from the negative externality manifests largely in the form of over-capitalization, the building of too many wells and power plants. Results from a well-level spatial econometric model indicate that interdependence between wells at The Geysers is substantial. These results warrant further investigation of the common property nature of geothermal resources and a regulatory framework to manage spatial externalities that can arise in them.
Economics of California's The Geysers Geothermal Steam Field
Author: Joeri Frederik De Wit
Publisher:
ISBN: 9781303444388
Category :
Languages : en
Pages :
Book Description
"The Geysers" is a geothermal steam to electricity field in California. Over a period of 60 years, The Geysers has witnessed the entry/exit of multiple firms as total steam production grew, peaked, and then began to decline. Using a conceptual model for the extraction of steam from a vapor dominated geothermal reservoir I show that this pattern of field development may, to some extent, be a result of spatial externalities. Spatial externalities arise because fluids in the reservoir are mobile. Production and injection decisions of one well operator can affect the flow rate of wells owned by other operators. When independently profit maximizing operators fail to take into account interdependence between wells, they extract fluids at a rate which exceeds that which would have maximized field-wide profits. The welfare loss that arises from the negative externality manifests largely in the form of over-capitalization, the building of too many wells and power plants. Results from a well-level spatial econometric model indicate that interdependence between wells at The Geysers is substantial. These results warrant further investigation of the common property nature of geothermal resources and a regulatory framework to manage spatial externalities that can arise in them.
Publisher:
ISBN: 9781303444388
Category :
Languages : en
Pages :
Book Description
"The Geysers" is a geothermal steam to electricity field in California. Over a period of 60 years, The Geysers has witnessed the entry/exit of multiple firms as total steam production grew, peaked, and then began to decline. Using a conceptual model for the extraction of steam from a vapor dominated geothermal reservoir I show that this pattern of field development may, to some extent, be a result of spatial externalities. Spatial externalities arise because fluids in the reservoir are mobile. Production and injection decisions of one well operator can affect the flow rate of wells owned by other operators. When independently profit maximizing operators fail to take into account interdependence between wells, they extract fluids at a rate which exceeds that which would have maximized field-wide profits. The welfare loss that arises from the negative externality manifests largely in the form of over-capitalization, the building of too many wells and power plants. Results from a well-level spatial econometric model indicate that interdependence between wells at The Geysers is substantial. These results warrant further investigation of the common property nature of geothermal resources and a regulatory framework to manage spatial externalities that can arise in them.
Economics of The Geysers Geothermal Field, California
Author: McMillan, D. A.
Publisher:
ISBN:
Category : Geothermal resources
Languages : en
Pages : 36
Book Description
Publisher:
ISBN:
Category : Geothermal resources
Languages : en
Pages : 36
Book Description
The Economics of Geothermal Power in California
Author: Rodger D. Carlson
Publisher: Ayer Publishing
ISBN: 9780405119705
Category : Electric utilities
Languages : en
Pages : 148
Book Description
Publisher: Ayer Publishing
ISBN: 9780405119705
Category : Electric utilities
Languages : en
Pages : 148
Book Description
Preliminary Studies for the Economic Use of Geothermal Steam for Electric Power Generation
Author: Earl F. English
Publisher:
ISBN:
Category : Electric power
Languages : en
Pages : 22
Book Description
Publisher:
ISBN:
Category : Electric power
Languages : en
Pages : 22
Book Description
The Economic Potential of Geothermal Resources in California
Author: California. Geothermal Resources Board
Publisher:
ISBN:
Category : Geothermal resources
Languages : en
Pages : 44
Book Description
Publisher:
ISBN:
Category : Geothermal resources
Languages : en
Pages : 44
Book Description
Geothermal Power
Author: Alvin Kaufman
Publisher:
ISBN:
Category : Electric power production
Languages : en
Pages : 32
Book Description
Publisher:
ISBN:
Category : Electric power production
Languages : en
Pages : 32
Book Description
An Environmental Overview of Geothermal Development
Author:
Publisher:
ISBN:
Category : Geothermal engineering
Languages : en
Pages : 80
Book Description
Publisher:
ISBN:
Category : Geothermal engineering
Languages : en
Pages : 80
Book Description
Geothermal Resources in California
Author: California. Legislature. Assembly. Panel on Energy Planning and Programs
Publisher:
ISBN:
Category : Geothermal power plants
Languages : en
Pages : 90
Book Description
Publisher:
ISBN:
Category : Geothermal power plants
Languages : en
Pages : 90
Book Description
Geothermal Resources in California, Potentials and Problems
Author: California. Legislature. Assembly. Panel on Energy Planning and Programs
Publisher:
ISBN:
Category : Geothermal engineering
Languages : en
Pages : 152
Book Description
Publisher:
ISBN:
Category : Geothermal engineering
Languages : en
Pages : 152
Book Description
Local Population Impacts of Geothermal Energy Development in the Geysers-Calistoga Region
Author: Kendall F. Haven
Publisher:
ISBN:
Category : California
Languages : en
Pages : 198
Book Description
Publisher:
ISBN:
Category : California
Languages : en
Pages : 198
Book Description