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Analyze the metaphor of Brandeis for creative federalism and the notion that single states may act as "laboratories of democracy." Give examples of how state experiences have indicated to the federal government which policies to adopt and which policies not to adopt.
Depletable Resource
A natural resource that can be diminished by use, such as fossil fuels or minerals, which are not renewable over short time spans.
User Cost
The cost of using a good or service, including the actual price paid and other sacrifices (like time or effort).
Oil Reserves
Quantities of crude oil that are confirmed to be recoverable under current economic and operating conditions.
Hotelling Rule
A principle from the economics of non-renewable resource management suggesting that the net price of a resource should increase at the rate of interest over time to ensure efficient extraction and usage.
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