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Energy for Transport in Developing Countries

Joy Dunkerley and Irving Hoch

Year: 1987
Volume: Volume 8
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol8-No3-3
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Abstract:
Transportation is the major market for liquid fuels in many developing countries, accounting on average for one half of total consumption. Unlike the other end-use sectors, possibilities for fuel switching in transport are limited, at least for the time being. Given the existing stock of transport equipment, virtually the entire increase in consumption of transport fuels for the next 15 years or so will involve petroleum products.



Petroleum Product Pricing in the Philippines

Armando Pestano

Year: 1988
Volume: Volume_9
Number: Special Issue 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol9-NoSI1-1
No Abstract



Petroleum Product Pricing in Thailand

Piyasvasti Amranand, Tienchai Chongpeerapien

Year: 1988
Volume: Volume_9
Number: Special Issue 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol9-NoSI1-2
No Abstract



P.R.C.'s Price Reform and the Trend in Energy Prices

Li Zheng, Zhang Jian

Year: 1988
Volume: Volume_9
Number: Special Issue 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol9-NoSI1-3
No Abstract



Oil Products in Latin America: The Politics of Energy Pricing

Thomas Sterner

Year: 1989
Volume: Volume 10
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol10-No2-4
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Abstract:
This paper looks at the pricing of petroleum products in Latin America and compares the policies adopted in countries with different endowments and with different traditions as to state involvement in the oil industry. I find that, in contrast to the OECD countries, product prices are used extensively as instruments of policy and that in general the more oil a country has the lower are its domestic prices. They also tend to be lower in the presence of state monopolies.



Competitive Speculative Storage and the Cost of Refinery Product Supply

Mark Newton Lowry

Year: 1989
Volume: Volume 10
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol10-No2-13
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Abstract:
In a recent article in thisjournal, Charles Tiplitz (1986) presented estimates of the cost-minimizing level of seasonal distillate fuel oil inventories in the US primary sector. The costs he considered are for storage and the extra cost of operating refineries at extreme distillate yield. The "effect of price expectations" on seasonal inventories is deliberately excluded from the analysis.The Tiplitz study has interesting and useful results. However, it raises (without answering) the question of how cost-minimizing stocks differ from stocks held for price reasons. Some readers may conclude that price-responsive stocks are somehow different from or additional to cost-minimizing stocks.This interpretation runs counter to economic intuition. n the classic theory of the firm, the profit-maximizing plan for variable inputs also minimizes the variable cost of the most profitable output level. When there is an opportunity to store, supply can be accomplished through storage as well as input processing. Stocks are a variable input in the supply process. If producers are expected-profit maximizers, they should therefore manage stocks like other inputs to minimize the expected variable cost of supply.



Oil and Petroleum Product Armington Elasticities: A New-Geography-of-Trade Approach to Estimation

Edward J. Balistreri, Ayed Al-Qahtani and Carol A. Dahl

Year: 2010
Volume: Volume 31
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol31-No3-9
View Abstract

Abstract:
Exploiting the structural developments suggested by the geography-of-trade literature, we estimate the elasticity of substitution across regional varieties for six crude grades and seven refined products using fixed-effects gravity regressions. We use unique data, compiled by Al-Qahtani (2008), that include global coverage of bilateral trade and transport costs for the crude grades and refined products. We find that the point estimates of elasticities of substitution across import varieties exceed those commonly reported in the literature and those adopted in simulation analysis. Our estimates indicate that there may be far less hysteresis in the pattern of petroleum trade than previously forecast.





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