Abstract
Simulataneous equation models are constructed to explain the interdependent relationships among the supply and demand as well as the stock of helium storage under the conservation programme and the natural gas reserve policies. Two-stage least squares techniques are employed for coefficient and elasticity estimation from data collected between 1955 and 1977. Long-run projections for helium supply and demand are presented. Policy issues on helium conservation and intergeneration welfare analysis are also discussed and suggestions on future helium utilization made. Since gas price deregulation will be up for review again in the USA, this paper may have some important implications for natural gas pricing policy in dealing with multiple products.
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