The Hotelling Principle states that the unit price of an exhaustible resource less the marginal cost of extracting it will tend to rise over time at a rate of interest equal to the return on comparable capital assets. Using an extended data set and Ordinary Least Squares (OLS) regression techniques, we produced cross-sectional results in accordance with the predictions of the Hotelling Principle. Recent literature casts great doubt on the use of time series analysis to uncover the economic principle.