Doug Reynolds

Dr. Doug Reynolds

Professor, Economics
Office 219C, Bunnell Building

Research and Scholarly Interests

Oil and Energy Economics
Natural Gas Pipeline Project costs
Energy History
Hubbert Curve Analysis


1994 Ph.D. Energy, Environmental and Resource Economics, University of New Mexico
1984 BA Mechanical Engineering, Colorado State University


Reynolds, Douglas B. (1999a)  “The Mineral Economy: How Prices and Costs Can Falsely Signal Decreasing Scarcity,” Ecological Economics, Volume 31, Number 1, pp. 155-166.              

Reynolds, Douglas B. (1994)  “Energy Grades and Economic Growth,” Journal of Energy and Development, Volume 19, Number 2, Spring 1994, pp. 245-264.       

Reynolds, Douglas B.  (2002) “Using Non-Time Series to Determine Supply Elasticity : How far do prices change the Hubbert Curve? ” OPEC Review , Volume 24, Number 2, June, pp. 147-167.

Reynolds, Douglas B.  (2000)  “Energy Utilization Chain: Determining Viable Oil Alternative Technology,” Energy Sources, Volume 22, Number 3, April, pp. 215-226.

Reynolds, Douglas B. (1998)  “Entropy Subsidies,” Energy Policy, February, Volume 26, Number 2, pp. 113-118.

Reynolds, Douglas B. (1999c)  “Entropy and Diminishing Elasticity of Substitution,” Resources Policy, March, Volume 25, Number 1, pp. 51-58, 25th Anniversary Volume.

Reynolds, Douglas B.  (2001) “Oil Exploration Game with Incomplete Information: An Experimental Study,” Energy Sources, Volume 23, Number 6, July, pp. 571-578.

Reynolds, Douglas B. (2000)  “Soviet Economic Decline: Did an Oil Crisis Cause the Transition in the Soviet Union,” Journal of Energy and Development, Volume 24, Number 1, pp. 65-82.

Reynolds, Douglas B. (forthcoming)  “Uncertainty in Exhaustible Natural Resource Economics:  The Irreversible Sunk Costs of Hotelling,” Resources Policy.

Reynolds, Douglas B., Jacob Joseph, Reuben Sherwood (2009). “Risky Shift versus Cautious Shift:  Determining differences in risk taking between private and public management decision-making,” in The Journal of Business & Economics Research, January 2009, volume 7 number 1.

Reynolds, Douglas B. and Marek Kolodziej , (2008) “Former Soviet Union Oil Production and GDP Decline: Granger Causality and the Multi-Cycle Hubbert Curve” Energy Economics. Volume 30, pp. 271-289.

Reynolds, Douglas B.  (1999d)  “ Modeling OPEC Behavior:  Theories of Risk Aversion for Oil Producer Decisions, ” Energy Policy, Volume 27, pp. 901-912.

Reynolds, Douglas B. and Jungho Baek (2012), “Much Ado about Hotelling: Beware the Ides of Hubbert,”  Energy Economics, 34 (2012), pp. 162-170.

Reynolds, Douglas B. and Marek Kolodziej , (2009). “North American Natural Gas Supply Forecast: The Hubbert Method Including the Effects of Institutions,” Energies 2009, 2(2), 269-306; doi:10.3390/en20200269

Reynolds, Douglas B. and Michael K. Pippenger (2010). “OPEC and Venezuelan oil production: Evidence against a cartel hypothesis,” Energy Policy, 38, 6045-6055.

Reynolds, Douglas B. and Marek Kolodziej . (2007) “Institutions and The Supply of Oil: A Case Study of Russia ” Energy Policy , Volume 35, pp. 939-949.

Reynolds, Douglas B. and Yuanyuan Zhao (2007). "The Hubbert Curve and Institutional Changes: How Regulations in Alaska Created a U.S. Multi-Cycle Hubbert Curve," in The Journal of Energy and Development, Volume 32, Number 2, Spring 2007, pp. 159-186.

Reynolds, Douglas B. (2005) “The Economics of Oil Definitions : The Case of Canada’s Oil Sands ” OPEC Review ., Volume 29, Number 1, March, pp. 51-73.

Reynolds, Douglas B.  (2000) “ The Case for Conserving Oil Resources: The Fundamentals of Supply and Demand,” OPEC Review , June, Volume 24, Number 2, pp. 71-86.

Reynolds, Douglas B.  (1998)  “Oil Exploration in Transitional Economies: What is Happening with Kazakstan’s On-Shore Proven Oil Reserves,” OPEC Review, March, Volume 21, Number 1, pp. 31-40.

Reynolds, Douglas B.; Jim Collins, & Xiaoqi Han, (2012).  “Micro-District Coal Heating Case Study,”  International Research Journal of Applied Finance, Case Studies,

Books and Chapters

Reynolds, Douglas B., (2011) Energy Civilization: The Zenith of Man, Alaska Chena Publishers. 

Reynolds, Douglas B., (2002) Scarcity and Growth Considering Oil and Energy: An Alternative Neo-Classical View, The Edwin Mellen Press.

Reynolds, Douglas B., (2009)  Chapter 1, OIL SUPPLY DYNAMICS: HUBBERT, RISK AND INSTITUTIONS In: OPEC, Oil Prices and LNG, Editor: Edward R. Pitt and Christopher N. Leung,           ISBN:978-1-60692-897-4, ©2009 Nova Science Publishers,Inc.

Reynolds, Douglas B., (2003) Alaska and North Slope Natural Gas: Development Issues and U.S. and Canadian Implications, Alaska Chena Publishers .

Other Professional Papers

Reynolds, Douglas B. (1999b).  “Oil Scarcity Should Be a Concern,” USAE Dialogue, Volume 7, number 1, pp. 12-13.

Reynolds, Douglas B.  (2011).  “Peak oil and the Fall of the Soviet Union:  Lessons on the 20th Anniversary of the Collapse.” The oil drum,  May 27, 2011,

Reynolds, Douglas B.  (2010). “Why Peak Oil is Past:  Integrating Oil Supply models to show 2004 as the Hubbert Peak,” Energy Politics, Winter 2010,

Reynolds, Douglas B.   (2011). “Peak oil and the Great Stagflation: Lessons from the Fall of the Soviet Union,” Energy Politics, Fall 2011, .

Reynolds, Douglas B.  (2011) “What Is OPEC?  It Is Saudi Arabia,” in “OPEC at 50:  Its Past, Present and Future in a Carbon-constrained World,” March, 2011, conference proceedings, National Energy Policy Institute. 

Reynolds, Douglas B. (2009).  “Stocks, Inflation and the Hubbert Curve,” USAE Dialogue, Volume 17, number 3, pp. 12-13.

Reynolds, Douglas B. , (2001) “World Hubbert Curve Oil Supply Forecast and The Reserve/Production Ratio Assumption,” 2001: An Energy Odyssey?, Conference Proceedings of the 24th Annual International Conference of the International Association of Energy Economics (IAEE), April 25-27, 2001, Houston Texas. 

Reynolds, Douglas B. (1998)  “Forecasting Oil Prices: A Forecasting Model Based on the Work of M.  King Hubbert,” Experimenting with Freer Markets: Lessons from the Last 20 Years and Prospects for the Future, Conference Proceedings of the 21st Annual International Conference of the International Association of Energy Economics (IAEE), May 13-16, 1998, Quebec Canada, pp.  541 - 550.

Reynolds, Douglas B. (1997)  “Oil Production in Transitional Economies: Can Kazakstan Sustain Oil Output,” Energy and Economic Growth: Is Sustainable Growth Possible?, Conference Proceedings of the 20th Annual International Conference of the International Association of Energy Economics (IAEE), January 22 –24, 1997, New Delhi, India, pp.  149-156.

Reynolds, Douglas B.   (1994)  “Oil Supply Dynamics: Russian Oil Production and Market Reforms, A Comparison of the U.S.  and Russian Oil Markets,” The World Oil and Gas Industries In the 21st Century, Conference Proceedings of the 16th Annual North American Conference of the International Association of Energy Economics (IAEE), November 6-9, 1994, Dallas, Texas, U.S.A., pp.  106-115.

Reynolds, Douglas B., Robert R. Logan, H. Charles Sparks and Michael Backus, (2002). The Alaskan Natural Gas Transmission System:  An Economic Analysis of Various Pipeline Proposals, Report presented to the Alaska State Legislature’s Joint Committee on Natural Gas. Northern Economic Research Associates,  August 19, 2002.

Rogers, Brian, Douglas B. Reynolds, Jana Peirce, Charles Ermer and Nadine Hargesheimer, (2006) Economic, Fiscal and Workforce Impacts of Alaska Natural Gas Projects, FINAL REPORT; Prepared for Alaska Department of Revenue, Juneau, Alaska; Prepared by, INFORMATION INSIGHTS, INC. Fairbanks, Alaska September 5, 2006.

Zhenhua Rui; Paul A Metz; Douglas B Reynolds; Gang Chen; Xiyu Zhou, (2011).  “Regression models estimate pipeline construction costs,” Oil & Gas Journal; Jul 4, 2011; 109, 14; ABI/INFORM Global,  pg. 120


Professor of Oil and Energy Economics, Alaska
Energy Consultant, Alaska
Assistant Professor Economics, Kazakstan
Mechanical Engineer,  New Mexico  

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