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Part B. Qualitative Analysis(10 points) Please complete(in Microsoft Word document) the following questions: Question # 1: What is a Hubbert curve? Has the Hubbert curve

Part B. Qualitative Analysis(10 points)

Please complete(in Microsoft Word document)the following questions:

Question # 1:What is a Hubbert curve? Has the Hubbert curve been accurate for the United States? Explain.

Question # 2:List and briefly discuss three reasons why the United States continues to rely heavily on fossil fuels as an energy source.

Question # 3:Why are externalities so important to energy policy analysis? Briefly discuss how the externality costs differ for various energy sources.

Question # 4:List and briefly discuss three policies that could be used to encourage a transition towards renewable energy sources.

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