Facebook LinkedIn Instagram Twitter
Shop
Search
Begin New Search
Proceed to Checkout

Search Results for All:
(Showing results 1 to 10 of 83)

Next 10 >>


Coping with Supply Insecurity

M. A. Adelman

Year: 1982
Volume: Volume 3
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol3-No2-1
View Abstract

Abstract:
Since the end of World War II, there have been six world oil supply disruptions, in 1951, 1956, 1967, 1973, 1979, and 1980-one year in six, and the frequency seems to be increasing. This danger will continue, for there are many sources of disruption. Although the probability of any one type in any one year is low, the chances of escaping them all for several years are also low.



World Oil Prices and Economic Growth In the 1980s

Henry D. Jacoby and James L. Paddock

Year: 1983
Volume: Volume 4
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol4-No2-4
View Abstract

Abstract:
The world oil market is a forecaster's nightmare: seldom have so many knowledgeable observers been so wrong so often. Prior to 1973, few foresaw the magnitude of the price jump that was possible under disrupted conditions, or predicted the years of relative stability that followed. The Iranian revolution brought a similar surprise. On the other hand, in the fall of 1980 came the Iran-Iraq war; again a major price shock seemed at hand. Experts are still arguing about why it did not occur.



The Price of Oil and Conflict in OPEC

Ali M. Reza

Year: 1984
Volume: Volume 5
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol5-No2-2
View Abstract

Abstract:
The price-setting behavior of the oil-exporting nations is influenced by the various elasticities of demand for and supply of oil, and the long-run optimal price trajectory is also influenced by the rate of interest and reserves (see, for example, Pindyck, 1978, and Reza, 1981). Since it is generally agreed that the long-term price elasticity exceeds the short-term elasticity (in absolute value), measuring the latter can give a clearer picture of the former. The short-term price elasticity of demand for OPEC oil is also of interest because short-term financial constraints have apparently led at least some members of OPEC to weigh the short-run outcome of their pricing decisions more heavily. The issue addressed here is the magnitude of the short-run price elasticity of the demand for oil supplied by the OPEC core (Saudi Arabia, Kuwait, the United Arab Emirates, and Qatar) and of OPEC as a group.



International Oil Agreements

M. A. Adelman

Year: 1984
Volume: Volume 5
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol5-No3-1
View Abstract

Abstract:
The 1980 report of the Brandt Commission, calling for "a global agreement ... between oil producing and consuming countries" to assure adequate production at reasonable prices, states the gist of innumerable reports, articles, speeches, and resolutions, urging cooperation, dialogue, and interdependence.



Real Oil Prices from 1980 to 1982

Hillard G. Huntington

Year: 1984
Volume: Volume 5
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol5-No3-8
View Abstract

Abstract:
In the early 1980s, soft world oil markets were accompanied by two important and unforeseen world economic developments: stagnant economic growth and an appreciating dollar. The virtual standstill in economic growth from 1980 to 1982 was well off the 3 percent-plus growth path many analysts had anticipated. This experience, coupled with large shifts in oil inventory holdings by consumers (and perhaps increased consumer responses to oil prices), has led to a steady accumulation of unused productive capacity in the world oil market.



The Cost of Synthetic Fuels in Relation to Oil Prices-Revisited

Edward J. Daniels

Year: 1984
Volume: Volume 5
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol5-No3-10
View Abstract

Abstract:
... you can catch phenomena in a logical or in a mathematical box. The logical box is coarse but strong. The mathematical box is fine grained but flimsy. The mathematical box is a beautiful way of wrapping up a problem, but it will not hold the phenomena unless they have been caught in a logical box to begin with.In the beginning we generally believed that if the price of conventional oil continued to increase, at some point the price of synthetic fuels would become competitive. But in March 1981 we learned from a report prepared for the 97th Congress (Congressional Research Service, 1981) that the costs of synthetic fuels are driven by the cost of oil: even if oil were to reach $100 per barrel, synthetic fuels would still be more expensive! 2 Finally we knew that synthetic fuels could never be justified on an economic basis. The additional knowledge gained from the work (to wit, that interest rates could be predicted with a high degree of confidence on the basis of oil prices alone) was merely incidental.



Energy Demand in Jordan: A Case Study of Energy-Economy Linkages

Charles R. Blitzer

Year: 1984
Volume: Volume 5
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol5-No4-1
View Abstract

Abstract:
Higher world oil prices in the past decade have caused serious economic disruptions in most developing countries, which as a group are highly dependent on imported oil in relation to both the sizes of their economies and their total imports. I Increased oil bills have frequently led to lower aggregate growth rates, more severe balance-of-payments and debt problems, disruptions in energy-using sectors, and domestic inflation. Whether or not world oil prices resume their upward spiral, the oil-importing developing countries will continue to face serious macro-economic adjustment problems related in one way or another to energy.



Oil Prices Are Still Too High

Arlon R. Tussing

Year: 1985
Volume: Volume 6
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol6-No1-2
View Abstract

Abstract:
Predictions that the constant-dollar price of oil will rise again to surpass and remain above the all-time peaks reached in 1981 rest on strong logical premises. The truism that natural resources are finite unites with the paradigms of Malthus, Ricardo, and Hotelling to imply that the terms of trade will forever flow in favor of resource owners, particularly the owners of depletable resources.



Oil and Rival Energy Sources

P. C. Despraries

Year: 1985
Volume: Volume 6
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol6-No4-3
View Abstract

Abstract:
Mr. President, Very Honorable Minister Jochimsen, Ladies and Gentlemen:Several weeks ago, when my friend Jane Carter so greatly honored me by inviting me to make this talk, she mentioned my "unique" experience with international oil and energy markets. This word unique seems to me to be a good semantic example of overstatement such as is fairly rarely found in English except when required by specific circumstances. We are all unique in this room. The president-elect of your association invited me to take off for the summits and to describe from up there the wonderful countryside of our Earth, irrigated by the economy and lit up by energy, the two sources of mankind's wealth and the subject of this conference. But when I began to spread my wings, I found that the countryside beneath me was extraordinarily familiar and that it was hard to find much of anything to describe that you had not already depicted yourselves hundreds of times.



Future World Oil Prices and Production Levels: An Economic Analysis

Robert A. Marshalla and Dale M. Nesbitt

Year: 1986
Volume: Volume 7
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol7-No1-1
View Abstract

Abstract:
This paper is motivated by our beliefs that (1) economics does matter in world oil markets and (2) today's applied models either entirely neglect or (at best) only partially incorporate well-known economic fundamentals. We know of no applied model preceding ours that fully embodies the fundamental microeconomics of both depletable resources and industrial market structure (specifically dominant firm cartel theory) that characterize the world oil market.




Next 10 >>

Begin New Search
Proceed to Checkout

 





function toggleAbstract(id) { alert(id); }