THE BATTALION Page 5
WEDNESDAY, SEPTEMBER 30, 1981
New technology paying off
Consumers cringe at the
thought of having to pay more
money for energy, and new tech
nology used to mean higher
prices.
But two Texas A&M econom
ists say that energy from shale,
coal or plants, ultimately will keep
fuel prices from spiraling.
Dr. Charles Smithson of the
University’s economics depart
ment said: “As prices have in
creased over the years or as re
sources have become more diffi
cult to obtain, man has always
looked towards alternative
methods for meeting demand.
Certainly new methods for getting
fuel are more expensive, but they
supply our additional energy
needs.”
Smithson and Dr. S. Charles
Maurice, also in the economics
department, have authored a
study on the economic feasibility
of assimilating new technology.
The economists maintain that
technology has been analyzed
through ad hoc evaluations of spe
cific projects rather than through a
g enera l approach based on gener
ally accepted economic princi
ples.
“Suppose someone says that
more natural gas will be needed
on the West Coast in the future,”
Smithson said. “The amount of the
shortage is estimated and it is
assumed that this shortage can be
alleviated by gas produced in the
Rocky Mountains via nuclear sti
mulation.
The extra gas would cost more
to produce than conventionally
produced gas, Smithson said, but
when prices increase to a point
where new technology isn’t more
expensive than old technology,
additional supplies can be feasibly
produced. This increases com
petition and ultimately keeps
prices down, he said.
“Analysts fail to consider that in
a freely functioning market, after
some period of adapting new tech
nology there will be no shortage,
or gap, in the supply of natural
resources if government permits
prices to vary,” Smithson ex
plained. “As prices rise, suppliers
usually find it profitable to extract
resources that would be unprofit
able at lower prices.”
Smithson said consumers, not
government officials, decide when
new technology will be used in the
marketplace to increase energy
supplies. Smithson cited the oil
boom in Texas along the Austin made it possible to use more ex
chalk as an example of how in- pensive technology for obtaining
creases in the price of oil have additional supplies.
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Cutting classes
Photo by Carolyn Shanley
Mike Dunn, senior mechanical engi
neering major from Sugarland, demon
strates wood cutting techniques at a class
held for students interested in working
on Bonfire this year. Dunn has been
giving the wood cutting instructions twice
nightly, 5:30 and 6 p.m., in front of Sbisa
Dining Hall. His last class will be tonight.
Anyone interested in cutting for bonfire
must attend one of the classes.
Oil program
to be given
e*i iy museum
jdthelJ I
, the * ,
Boomtown U.S.A. is the title
j u f a two-part program to be pre-
! ofw® entec ^ wee k by the Brazos
Union’ ?a Iky Museum. The program will
A eature presentations on oil re-
Irieval in the Brazos Valley.
nvoh^ The first part of the program is a
iecure scheduled for 7:30 p.m.
Thirsday, in the Brazos Center at
, Soul 1 32J2 Briarcrest Dr.
tes,
The second part of the program
? a field trip to a drilling rig and a
vorking oil well near Kurten. The
ield trip is scheduled for 9 a.m.
dl# P atur day.
I g Fill Ten paces are still open for the
pngram which has a limited en-
dment of 25 people. Four dol-
?s will be charged for the prog-
m and participants will carpool
ith the instructors on the field
ip.
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TEXAS A&M
Fall Fling!
25%
on
Fall & Winter Clothing
AT
YOUNG
CONSERVATIVES
OF TEXAS
Organizational Meeting
Wednesday Sept. 30
7:30 p.m.
Room 350 MSC
Interested persons should con
tact Museum Director Dale Bode
at 779-2195 for more information.
is looking for
qualified Accountants
to join our rapidly
growing firm in
Houston. We will be
interviewing on
campus, October 6,
1981.
Now that you're back, we at
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SAT. 9 a.m.-6 p.m.
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