WorldWideScience

Sample records for world oil market

  1. Ten-year retrospective: OPEC and the world oil market

    Energy Technology Data Exchange (ETDEWEB)

    Gately, D.

    1984-09-01

    This paper reviews the main events in the world oil market since 1973 and some major explanations as to what happened and why (Section I). Then there is a discussion of some projections for the next two decades and of some implications of various theories about OPEC's decisionmaking process (Section II). Section III summarizes what we have learned about modeling OPEC and the world oil market. This includes: the dominant theoretical approach based on the wealth-maximization model of Harold Hotelling (1931); the simulation approach most common in the applied literature, which envisages target-capacity-utilization pricing by OPEC; and the difficult problem of modeling price behavior during disruptions. Finally, Section IV discusses some important unresolved issues, both theoretical and empirical. A variety of contributions to the literature are considered, but the discussion pays special attention to two important recent works. One is the book OPEC Behavior and World Oil Prices (1982) (EAPA 9:3899) edited by James Griffin and David Teece, an important collection of papers on OPEC and world oil, prepared for a 1981 conference at the University of Houston. The other is the 1980 to 1981 world oil study by the Energy Modeling Forum of Stanford Univesity, which involved ten prominent models of the world oil market. 31 references.

  2. THE WORLD OIL MARKET – STATISTICAL ANALYSIS

    Directory of Open Access Journals (Sweden)

    Alexandru AnaMaria

    2009-05-01

    Full Text Available For some countries the oil is the main source of income, while for others it represents the main raw material for energetic needs. Thus, the oil price has major influence on their economies and it is important for them that it stabilizes at a level profit

  3. Markets during world oil supply crises: an analysis of industry, consumer, and governmental response

    Energy Technology Data Exchange (ETDEWEB)

    Erfle, Stephen; Pound, John; Kalt, Joseph

    1981-04-01

    An analysis of the response of American markets to supply crises in world oil markets is presented. It addresses four main issues: the efficiency of the operation of American oil markets during oil supply crises; the problems of both economic efficiency and social equity which arise during the American adaptation process; the propriety of the Federal government's past policy responses to these problems; and the relationship between perceptions of the problems caused by world oil crises and the real economic natures of these problems. Specifically, Chapter 1 presents a theoretical discussion of the effects of a world supply disruption on the price level and supply availability of the world market oil to any consuming country including the US Chapter 2 provides a theoretical and empirical analysis of the efficiency of the adaptations of US oil product markets to higher world oil prices. Chapter 3 examines the responses of various groups of US oil firms to the alterations observed in world markets, while Chapter 4 presents a theoretical explanation for the price-lagging behavior exhibited by firms in the US oil industry. Chapter 5 addresses the nature of both real and imagined oil market problems in the US during periods of world oil market transition. (MCW)

  4. The social costs to the US of monopolization of the world oil market, 1972--1991

    Energy Technology Data Exchange (ETDEWEB)

    Greene, D.L.; Leiby, P.N.

    1993-03-01

    The partial monopolization of the world oil market by the OPEC cartel has produced significant economic costs to the economies of the world. This paper reports estimates of the costs of monopolization of oil to the US over the period 1972--1991. Two fundamental assumptions of the analysis are, (1) that OPEC has acted as a monopoly, albeit with limited control, knowledge, and ability to act and, (2) that the US and other consuming nations could, through collective (social) action affect the cartel's ability to act as a monopoly. We measure total costs by comparing actual costs for the 1972--1991 period to a hypothetical more competitive'' world oil market scenario. By measuring past costs we avoid the enormous uncertainties about the future course of the world oil market and leave to the reader's judgment the issue of how much the future will be like the past. We note that total cost numbers cannot be used to determine the value of reducing US oil use by one barrel. They are useful for describing the overall size of the petroleum problem and are one important factor in deciding how much effort should be devoted to solving it. Monopoly pricing of oil transfers wealth from US oil consumers to foreign oil producers and, by increasing theeconomic scarcity of oil, reduces the economy's potential to produce. The actions of the OPEC cartel have also produced oil price shocks, both upward and downward, that generate additional costs because of the economy's inherent inability to adjust quickly to a large change in energy prices. Estimated total costs to the United States from these three sources for the 1972--1991 period are put at $4.1 trillion in 1990$($1.2 T wealth transfer, $0.8 T macroeconomic adjustment costs, $2.1 T potential GNP losses). The cost of the US's primary oil supply contingency program is small ($10 B) by comparison.

  5. Mexico's strategy meets the changing world oil market

    Energy Technology Data Exchange (ETDEWEB)

    Berrueto, L.E.M.

    1984-04-01

    Conscious of its importance in the international energy scene, Mexico has evolved a strategy to cope with the changing world oil market. The author traces both OPEC developments and Mexico's emergence as an oil producer since production began in 1901. Efforts to deal with the bottlenecks of transportation, storage capacity, port infrastructure, gas flaring, and over-exploitation that have hampered growth of the petroluem industry, as well as a general economic crisis, led to a National Development Plan that emphasizes exploration, balancing domestic development and exports, improving efficiency and productivity, and improving ecological and environmental efforts. A major factor will be Mexico's trade relations with the petrochemical producing countries. Mexico intends an active and responsible participation in the international oil market.

  6. Ten-year retrospective on OPEC and the world oil market

    Energy Technology Data Exchange (ETDEWEB)

    Gately, D.

    1983-01-01

    Following a review of the main events in the world oil market since 1973 and some of the major explanations of what happened and why, the author discusses projections for the next two decades and considers some implications of various theories of how decisions are made by OPEC. This includes the dominant theoretical approach that uses Hotelling's wealth-maximization model, the simulation approach of target-capacity-utilization pricing by OPEC, and the problem of modeling price behavior during disruptions. The final section discusses some of the important unresolved issues, such as supply and demand uncertainties, the best behavior for OPEC, and the dispute over OPEC's significance to events of the past decade. 31 references.

  7. Oil on the market

    Energy Technology Data Exchange (ETDEWEB)

    Schroeder, K.; Ukert, T.

    1982-01-01

    The structure of the German mineral oil market, supply and consumption as well as the particularities of this market are investigated and explained. The authors deal in particular with the market for light fuel oil, the petrol market, the market for heavy fuel oil and the market of lubricants. As different as these markets may be - the unavoidable coupled production produces interdependences. This and the balance caused by imports and exports have the effect that the price level on the German mineral oil markets is closely connected with the development of prices on the internal mineral oil markets.

  8. Climate change, future Arctic Sea ice, and the competitiveness of European Arctic offshore oil and gas production on world markets.

    Science.gov (United States)

    Petrick, Sebastian; Riemann-Campe, Kathrin; Hoog, Sven; Growitsch, Christian; Schwind, Hannah; Gerdes, Rüdiger; Rehdanz, Katrin

    2017-12-01

    A significant share of the world's undiscovered oil and natural gas resources are assumed to lie under the seabed of the Arctic Ocean. Up until now, the exploitation of the resources especially under the European Arctic has largely been prevented by the challenges posed by sea ice coverage, harsh weather conditions, darkness, remoteness of the fields, and lack of infrastructure. Gradual warming has, however, improved the accessibility of the Arctic Ocean. We show for the most resource-abundant European Arctic Seas whether and how a climate induced reduction in sea ice might impact future accessibility of offshore natural gas and crude oil resources. Based on this analysis we show for a number of illustrative but representative locations which technology options exist based on a cost-minimization assessment. We find that under current hydrocarbon prices, oil and gas from the European offshore Arctic is not competitive on world markets.

  9. World oil and gas markets in 2005; Les marches petroliers et gaziers mondiaux en 2005

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2006-01-15

    In front of insufficient production capacities, the petroleum and gas spot prices have won historical records in 2005. This paper analyzes this situation using the highlights of this exceptional year and concerning the producing countries (political situation), the oil and gas markets (exchange rates, demand, production capacity), the European quotations of petroleum products (automotive and domestic fuels), and the prices of petroleum products in France. (J.S.)

  10. The future world oil market: state of nature or social contract?

    Energy Technology Data Exchange (ETDEWEB)

    Noel, P

    1999-10-01

    Mary Ann Tetreault develops a very interesting interpretation of the emerging new relationship between international oil companies and Middle East producing countries. The original intellectual tools she handles-concepts drawn from the European political philosophy tradition-allow her to argue as follows: (1) the oil market left to itself- whether participants are states or firms-behaves like a Hobbesian ''state of nature'' often resulting in a situation damaging to each participant; (2) to deal with it, the international oil community has historically relied on different types of organisations, but these social contracts or ''republics'' were inherently unstable since they rested on too narrowly defined interests; (3) the rationale behind the possible return of oil companies to the richest Middle East countries is the search for new ''international oil republics'' able to ''offer greater security and higher profits for all the good republicans among them''. (author)

  11. Oil market outlook

    NARCIS (Netherlands)

    Lorié, J.; Kastelein, M.; Zeilstra, A.

    2013-01-01

    The price of oil has a huge impact on the profitability of many and varied industries. In this report, we explore the factors that affect that price and look at the likely future development of the oil market.

  12. Heavy oil markets and investments

    Energy Technology Data Exchange (ETDEWEB)

    Forrest, Jackie [CERA North America (United States)

    2011-07-01

    With the depletion of traditional energy resources and the rising demand for energy, the exploitation of heavy oil resources is increasing. The aim of this paper is to present the heavy oil sector and to show which are the factors influencing heavy oil growth and production. A large part of heavy oil reserves lies in the Americas, with about 45% of the world's reserves in Latin America and over 35% in North America. The development of the heavy oil sector is dependent on economic, technological and environmental factors; greenhouse gas policies have important impacts on the development of the heavy oil industry as well as downstream market access. This presentation highlighted the great potential that North and South America have in terms of heavy oil but that the development of this sector will depend on several factors.

  13. Medium-Term Oil Market Report 2006

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2006-07-01

    How much oil will the world consume in 2011? What role will OPEC play in global oil production? Will biofuels become an important part of the oil market? The International Energy Agencys (IEA) Medium-Term Oil Market Report tackles these questions, adopting a perspective that goes beyond the traditional short-term market analysis provided in the IEAs monthly Oil Market Report. Drawing on current futures curves and the investment threshold for upstream projects, the Medium-Term Oil Market Report analyses how global demand and supply balances may develop in the next five years. The forecasts look in detail at product demand and the supply potential from all the firmly planned individual upstream and downstream projects around the world. The results provide invaluable insights on vital issues such as surplus production capacity and product supply. The rapid pace of change in the oil market means that forecasts can become outdated very quickly. This interim update provides the opportunity to rebase the data and forecasts in the annual Medium-Term Oil Market Report and to discuss and analyse new issues affecting the oil industry. Policymakers, market analysts, energy experts and anyone interested in understanding and following trends in the oil market should find this report extremely useful.

  14. View on world market

    Energy Technology Data Exchange (ETDEWEB)

    Poulsen, J. [Vestas Wind Systems A/S, Lem (Denmark)

    1996-12-31

    Opinions on the world market for wind power are presented in this paper. Reasons contributing to a potential growth in wind power are cited. Increased demand is expected to arise due to increased energy needs and environmental concerns. Barriers, primarily political, to the development of wind energy are assessed. Development is predicted to occur first in countries with a demand for new capacity and political decisions to protect the environment.

  15. A network analysis of the global energy market: an insight on the entanglement between crude oil and the world economy

    CERN Document Server

    Ruzzenenti, Franco; Papandreou, Andreas

    2015-01-01

    One major hurdle in the road toward a low carbon economy is the present entanglement of developed economies with oil. This tight relationship is mirrored in the correlation between most of economic indicators with oil price. This paper addresses the role of oil compared to the other three main energy commodities -coal, gas and electricity, in shaping the international trading network (ITW or WTW, world trade web) in the light of network theory. It initially surveys briefly the literature on the correlation between oil prices with economic growth and compares the concepts of time correlation with the concept of spatial correlation brought about by network theory. It outlines the conceptual framework underpinning the network measures adopted in the analysis and results are presented. Three measures are taken into account: the ratio of mutual exchanges in the network (reciprocity); the role of distances in determining trades (spatial filling); and the spatial correlation of energy commodities with the whole trad...

  16. Medium-Term Oil Market Report 2007

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    How much oil will the world consume in 2012? What role will OPEC play in global oil production? Will biofuels become an important part of the oil market? How will the refinery sector cope? The International Energy Agency (IEA) Medium-Term Oil Market Report tackles these questions, adopting a perspective that goes beyond the traditional short-term market analysis provided in the IEA Oil Market Report. Drawing on current futures curves and the investment threshold for upstream projects, the Medium-Term Oil Market Report analyses how global demand and supply balances may develop. By assessing all firmly planned upstream and downstream projects worldwide, this report forecasts supply and demand potential for crude and petroleum products over the next five years. The results provide an invaluable insight into vital issues such as surplus production capacity and product supply. An essential report for all policymakers, market analysts, energy experts and anyone interested in understanding and following oil market trends, the Medium-Term Oil Market Report is a further element of the strong commitment of the IEA to improving and expanding the quality, timeliness and accuracy of energy data and analysis.

  17. Library Marketing in the World

    OpenAIRE

    Ionel Enache; Simona Gheorghe

    2008-01-01

    The article is a sequel to the previous one published in the previous issue of the Librarianship and Information Science magazine. A presentation of several experiences concerning the implementation of library marketing in Europe being already made, in what follows we will deal with other situations from different countries of the world. All these examples can be useful to the infodocumentary structures in Romania which marketing is a new domain, still discreet.

  18. OIL AND GAS FUTURES AND OPTIONS MARKET

    Directory of Open Access Journals (Sweden)

    Ante Nosić

    2017-01-01

    Full Text Available Energy mineral resources markets are represented by complex supply and demand ratios which are depending on different factors such as technical (transport and geopolitical. The main specific of energy markets is represented by an uneven geographic distribution of hydrocarbon reserves and exploration on one hand and energy consumption on the other. World oil markets, although geographically localized, because of specific market trade, represent unique global market with decreasing price difference. Price differences are result of development of a transport possibilities of oil supply. Development of transport routes of natural gas and increasing number of liquefied natural gas terminals in the world give pressure to natural gas market and its integration into global gas market. Integration of regional gas markets into a common European gas market is main energy policy of EU concerning natural gas. On the other hand, there are still significant price differences on some markets (e.g. United States of America - South East Asia. Development of global energy markets is enabled by development of a futures and options contracts of an energy trade which have replaced bilateral contract deals between producers and consumers. Futures contracts are standardized contracts traded on exchanges. Buyer agrees to buy certain quantity of stock for an agreed upon price and with some future delivery date. Option is a contract which gives a buyer the option of the right to buy (or sell, depending on the option an asset at predetermined price and at a later date. Stocks price risk can be managed with the purchase and selling futures and options contracts. This paper deals with futures and options energy markets and their market strategies.

  19. Energy use and production, demography and the world-market oil price-influencing twenty years of economic performance and environment degradation in Mexico

    Energy Technology Data Exchange (ETDEWEB)

    Lopez Lemus, Luis Gerardo [SUNY College of Environmental Science & Forestry (United States)

    1997-07-01

    I present a compilation of data describing Mexico's economic performance as it relates to demographic and natural resource characteristics. Statistical correlations suggest that long term economic output and energy efficiency are influenced mostly by human population numbers and fuel consumption rate, although its fluctuations have been clearly driven by those of the world-market oil price throughout 1970-90. Neither energy production, agricultural yield, OPEC's oil price or forest coverage appeared important in determining Mexican GDP response for this 20-year period. Significant relations of these fluctuations were found also in the rates of deforestation, air pollution and agricultural production, being all of these variables seemingly independent of the intrinsic human population growth rate. I discuss how Mexico could bridge the GDP gap with its current Nafta partners from this system-energy perspective. [Spanish] Presento una coleccion de datos que describen el comportamiento de la economia de Mexico relacionado con las caracteristicas demograficas y de sus recursos naturales. Las correlaciones estadisticas sugieren que la produccion economica a largo plazo y la eficiencia de la energia estan influenciadas principalmente por las cifras de poblacion humana y por el regimen de consumo de combustible, si bien sus fluctuaciones han sido claramente impulsadas por los precios del petroleo en mercado mundial a traves de 1970 a 1990. Ni la produccion de energia, el rendimiento agricola, el precio del petroleo de OPEC o la extension de los bosques resultaron importantes en la determinacion de la respuesta del PIB de Mexico para este periodo de 20 anos. Se encontraron relaciones significativas de estas fluctuaciones tambien en los regimenes de deforestacion, contaminacion del aire y produccion agricola, siendo todas esta variables de forma similar independientes de regimen intrinseco del crecimiento de la poblacion humana. Analizo como podria Mexico salvar la

  20. Oil elite networks in a transforming global oil market

    NARCIS (Netherlands)

    de Graaff, N.A.

    2012-01-01

    This article analyses oil elite formation in light of the wider transformation that is taking place in the global oil order due to the rise of powers from the Global South, including Russia: in particular, the expansion and integration of the state-owned oil companies into the global oil market.

  1. Oil Price Risk and Stock Markets

    OpenAIRE

    Niu, Hui

    2012-01-01

    The oil price risk refers to the uncertainty of the change in oil price and the stock markets studied in this paper are the so called emerging ones. Fourteen countries are selected for a quantitative research on the link between the oil price fluctuation and the stock market performance. A multi-factor model is applied and specifically an OLS regression is conducted separately for the data on Brazilian stock market. As a result, the rising oil price decreases stock price in oil-importing coun...

  2. World oil and geopolitics to the year 2010

    Energy Technology Data Exchange (ETDEWEB)

    Amirahmadi, H.

    1995-12-31

    This paper focuses on the interplay of market forces and politics in the world oil market projected to the year 2010. It argues that world oil demand will increase considerably, with Asian demand growing the fastest. Given that the growth of oil supply of producers outside the Organization of the Petroleum Exporting Countries (OPEC) will be trivial, the call on OPEC oil will increase substantially. Yet, given their declining per-capita oil revenues, OPEC members may not be able to make timely investments in required upstream projects. If this happens, the supply constraint will lead to higher prices and intensified international competition for Arabian/Persian Gulf oil. Thus, foreign investment will be needed increasingly in OPEC states if prices are to remain stable. But geopolitical and institutional barriers to foreign investment in many OPEC members hinder foreign investment. It is imperative that major players in the world oil market cooperate to reduce such barriers in time to ensure that supply corresponds to rising demand. 22 refs., 8 figs., 10 tabs.

  3. Views on world markets - Canada

    Energy Technology Data Exchange (ETDEWEB)

    Passmore, J. [Canadian Wind Energy Association, Ottawa, Ontario (Canada)

    1996-12-31

    If {open_quotes}market{close_quotes} is defined by hardware in the ground (as it should be), then the Canadian wind power market has been virtually non-existent (only 23 MW to date). The potential on the other hand is enormous (6400 MW likely to be developed). This potential has not been pursued because of unregulated electric utility monopolies, lack of political knowledge and interest, and punitive tax treatment for renewables. Recent initiatives including utility restructuring, federal plans for green power procurement, and proposed tax measures suggest that situation has potential for change. Interested parties should start familiarizing themselves with the Canadian players / market now, in order to be ready to move when the time comes (likely in the next three years). 3 tabs.

  4. Analysis of Angola as a new OPEC member (2007) for the world oil market; Analise da entrada de Angola na OPEC (2007) para o mercado mundial do petroleo

    Energy Technology Data Exchange (ETDEWEB)

    Garcia, Ana Paula Alves S.L.; Almeida, Gabriela Gomes de [Universidade Vila Velha, ES (Brazil). Curso de Relacoes Internacionais; Samarco Mineracao S.A., Belo Horizonte, MG (Brazil)], e-mail: anapaula_aslg@hotmail.com, e-mail: gabiptu@hotmail.com

    2008-07-01

    Angola is in the spot light lately as one of the major oil producers in the world, being the second largest oil producer in Africa. Therefore, in 2007, this country became a member of OPEC which brought to table several speculations concerning Angola's position facing the pressures and demands of an international organization. This article comes to analyse Angola's possible strategies when it comes to defending its economic interests and its participation in the price politics implemented by OPEC. All hypotheses considered in this article are analysed according to the Complex Interdependence Theory (Keohane and Nye). This International Affairs Theory is defined by a mutual and multilateral dependence between the nations. This way, we may conclude that even though Angola has a history of non fulfilling its agreements, the cooperation is made necessary because it is the most benefice alternative. The tendency is that when Angola starts fulfilling its quotas on the oil matter it will receive cooperation from OPEC and other nations in other areas where this country needs assistance. (author)

  5. Decoding a message about the market for oil

    Energy Technology Data Exchange (ETDEWEB)

    Fleming, D. [The Lean Economy Initiative, London (United Kingdom)

    1999-07-01

    Information from the International Energy Agency (IEA) casts a totally new light on prospects for the world supply of crude oil. According to data published in the latest issue of 'World Energy Outlook', production of conventional crude oil by the 'rest-of-the-world' producers is already at a plateau, and will start its long decline towards exhaustion as soon as 2001. This will give effective control of crude oil supplies to the five major Middle East OPEC producers, whose market share - at present just short of 30% - is set to rise towards 50% in the next decade. The last time this group had a market share of 30% or more was in the 1970s. This article summarizes the situation, reviews consequences and proposes a way forward.

  6. Relationships between oil price shocks and stock market: An empirical analysis from China

    DEFF Research Database (Denmark)

    Cong, Ronggang; Wei, Yi-Ming; Jiao, Jian-Ling

    2008-01-01

    This paper investigates the interactive relationships between oil price shocks and Chinese stock market using multivariate vector auto-regression. Oil price shocks do not show statistically significant impact on the real stock returns of most Chinese stock market indices, except for manufacturing...... index and some oil companies. Some “important” oil price shocks depress oil company stock prices. Increase in oil volatility may increase the speculations in mining index and petrochemicals index, which raise their stock returns. Both the world oil price shocks and China oil price shocks can explain...

  7. Medium-Term Oil Market Report (MTOMR) 2009

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2009-06-29

    This fourth edition of the IEA Medium-Term Oil Market Report (MTOMR) confronts an economic landscape unrecognisable from that seen at the time of the release of the summer 2008 edition. Crude prices are now 55% lower as financial and economic meltdown have slashed demand, with worldwide contraction in oil use at levels not seen since the early 1980s. But how long will the downturn last, and what is the likely profile of global and regional demand recovery when economic rebound eventually takes root? Has almost a decade of rising prices and costs changed the demand-side blueprint and forced the world onto a lower oil intensity path for the period through 2014? Equally importantly, the report identifies the impact that weaker demand, low prices and a credit squeeze are having on supply-side investment - in upstream OPEC/non-OPEC supply, biofuels capacity and refining infrastructure alike. The 2009 edition of the MTOMR also delves into the issues of diversifying FSU crude exports, evolving crude and product qualities, the importance of petrochemical markets and perceptions on oil price formation in the down-cycle. Two demand scenarios are presented based on differing economic growth assumptions, with a lower non-OPEC supply scenario also accompanying the lower GDP case. Summary oil balances highlight how OPEC spare capacity could develop during 2008-2014. This year, the MTOMR also consolidates analysis of future crude availability and trade flows, refining capacity and oil products supply implications under one cover. The MTOMR remains required reading for policy makers, market analysts, industry participants and anyone with an interest in oil market trends. It contains detailed statistical appendices and a wealth of insightful graphics. Alongside its monthly sister publication, the Oil Market Report, the MTOMR is a cornerstone of the IEA commitment to enhancing oil market transparency.

  8. World Oil Prices and Indonesia Macroeconomic

    Directory of Open Access Journals (Sweden)

    M. Ichsandimas W.

    2015-03-01

    Full Text Available The goal of this study is to look at the relation and contribution value, while the impact of world oil price on the macroeconomic Indonesian form 1980 to 2010. This Study used Vector Auto Regression (VAR method and tool of VAR used are Impulse Response Function (IRF and Variance Decomposition. The results of study finds a positive relation and statistically significant impact of world oil price on inflation and real GDP Indonesian, but not significant and negative relation on real exchange rates. World oil price has contribution value on the inflation, real exchange rates, Indonesia real GDP after first period.

  9. An analysis of price and volatility transmission in butter, palm oil and crude oil markets

    Directory of Open Access Journals (Sweden)

    Dennis Bergmann

    2016-11-01

    Full Text Available Abstract Recent changes to the common agricultural policy (CAP saw a shift to greater market orientation for the EU dairy industry. Given this reorientation, the volatility of EU dairy commodity prices has sharply increased, creating the need to develop proper risk management tools to protect farmers’ income and to ensure stable prices for processors and consumers. In addition, there is a perceived threat that these commodities may be replaced by cheaper substitutes, such as palm oil, as dairy commodity prices become more volatile. Global production of palm oil almost doubled over the last decade while butter production remained relatively flat. Palm oil also serves as a feedstock for biodiesel production, thus establishing a new link between agricultural commodities and crude oil. Price and volatility transmission effects between EU and World butter prices, as well as between butter, palm oil and crude oil prices, before and after the Luxembourg agreement, are analysed. Vector autoregression (VAR models are applied to capture price transmission effects between these markets. These are combined with a multivariate GARCH model to account for potential volatility transmission. Results indicate strong price and volatility transmission effects between EU and World butter prices. EU butter shocks further spillover to palm oil volatility. In addition, there is evidence that oil prices spillover to World butter prices and World butter volatility.

  10. Computer solutions for fuel oil marketers

    Energy Technology Data Exchange (ETDEWEB)

    Berst, J.; Kall, J.

    1984-11-01

    Methods for upgrading computer systems for fuel oil marketers are discussed. A computer system that is free or nearly free of software is proposed. Five suggestions are given to help determine when a computer system is ready for replacement.

  11. STUDY ON GRAIN MARKET IN THE WORLD

    Directory of Open Access Journals (Sweden)

    Elena COFAS

    2013-01-01

    Full Text Available In the global economy, the market occupies a representative place because the grain is grown on a large area and it is important both to ensure food security and safety, but also for animal feed. In order to accomplish this study we have used certain indicators, of which the most representative are: acreage, production obtained, yield per hectare, food consumption, imports, exports and last but not least the price. World market of cereals has increased in the past decade due to increased consumption of cereals, especially in less developed countries economically. World grain market evolution in the analyzed period was disrupted on one side by the global economic crisis and on the other side by bad weather changes that occur on a global scale and have had a negative impact on acreage, production achieved, prices etc. According to forecasts the global market for cereals is expected to increase trade with cerereale, while diminishing stocks.

  12. Computer solutions for fuel oil marketers

    Energy Technology Data Exchange (ETDEWEB)

    Berst, J.; Kinley, P.

    1985-03-01

    The use of computers in fuel oil marketing is discussed. A Maine company, Wright Express Corporation, is trying to increase interest in a new computer network that would cater to the needs of fuel oil and petroleum distribution centers. The company has launched a nationwide marketing campaign hoping to attract service stations and companies that operate large motor vehicle fleet operations such as heating oil dealers. Users would access the system in much the same way a bank's customers use electronic funds transfer systems.

  13. Medium-Term Oil and Gas Markets 2011

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2011-06-16

    Oil and gas markets have been marked by an increased divergence in recent months. On the one hand, oil market developments have generated an unpleasant sense of deja vu: rapid demand growth in emerging markets eclipsed sluggish supply growth to push prices higher even before the conflict in Libya tightened supplies still further. Oil prices around $100/bbl are weighing down on an already-fragile macroeconomic and financial situation in the OECD, pressuring national budgets in the non-OECD and causing price inflation of other commodities, as well as political concerns about speculation. There is an uncanny resemblance to the first half of 2008. On the other hand, in the world of natural gas an amazing disconnect has developed as demand recovered to well above pre-financial-crisis levels in most major regions. Gas markets have tightened in Europe and Asia, where prices are about twice the level seen in the United States, as the unconventional gas revolution is in full swing. From the upstream implications of the Arab Spring to the macroeconomic consequences of the eurozone crisis, energy markets are experiencing one of the most uncertain periods in decades. This publication provides a comprehensive outlook for oil and gas fundamentals through 2016. The oil market analysis covers demand developments on a product-by-product and key-sector basis, as well as a detailed bottom-up assessment of upstream and refinery investments, trade flows, oil products supply and OPEC spare capacity. The gas market analysis offers a region-by-region assessment of demand and production, infrastructure investment, price developments and prospects for unconventional gas. It also examines the globalising LNG trade.

  14. Cambodia: World Oil Report 1991

    Energy Technology Data Exchange (ETDEWEB)

    Khin, J.A. (AFKA Co., PTE Ltd. (SG))

    1991-08-01

    This paper reports on the Ministry of Industry which has the that hydrocarbon potential exists in the 57,600-sq-mi sedimentary basin covering both onshore and offshore Cambodia. It is also reported that 13 foreign oil companies have contacted the government, regarding obtaining interests in Kampot and Koh Kong Provinces in the southwestern part of the country.

  15. Market, Country and World Effects on Regional Equity Market Integration

    Directory of Open Access Journals (Sweden)

    Chee Wooi Hooy

    2014-08-01

    Full Text Available This study explores the fundamental driving forces of regional equity market integration in a trading bloc. The determinant factors are categorized into market attribute, economic fundamentals and world information. Our sample consists of 26 equity markets of ive regional trading blocs, namely AFTA, CER, EFTA, EU and NAFTA over the period of January 1999 to  August  2005.  We  measure  market  integration  based  on  pricing  errors  as  proposed  by Korajczyk (1996 and Levine and Zervos (1998. Using panel regressions, our results show that  equity  integration  in  these  trading  blocs  is  driven  internally,  where  only  individual-market  volatility  and  economic  fundamentals  play  a  signiicant  role  in  the  process.  Intra-bloc  trade  is  found  to  enhance  regional  equity  market  integration,  supporting  the  notion that  regional  convergence  extends  beyond  the  trade  sector  that  is  promoted  in  the  trade agreements.  We  also  document  regime  shifting  effects  during  stock  market  crises,  where most  of  these  markets  became  strongly  integrated  after  a  regional  crisis,  but  integration was signiicantly weakened during a crisis that affected the world markets. Also, the level of equity market integration differs across trading blocs, where the blocs with a smaller number of country members are relatively more integrated. ";} // -->activate javascript

  16. Cuba: World Oil Report 1991

    Energy Technology Data Exchange (ETDEWEB)

    Maciej, H. (Canadian Petroleum Association, Calgary, AB (Canada))

    1991-08-01

    This paper reports that plagued by his worst fuel crisis in years, Cuban President Fidel Castro late last year began soliciting foreign help in the country's exploration efforts. What is particularly new about this initiative is that the invitation was directed toward capitalist Western nations, as opposed to previous help supplied by the Soviet Union. Castro's sudden change of attitude has been spurred by the continuing shortfall in oil deliveries from the USSR, symptomatic of the latter's own production problems.

  17. Quince Market in the World and Turkey

    Directory of Open Access Journals (Sweden)

    Bekir Sıtkı Şirikçi

    2017-07-01

    Full Text Available In this study, the quince market was examined in the world and Turkey. The primary data in the study were obtained by questionnaire method with 28 middleman in different marketing levels in Sakarya, Antalya, Bursa, Bilecik and Denizli where quince production is concentrated. Secondary data were obtained from the FAO and TURKSTAT. The world quince production, which is 324465 tons compared to 1981-1985 which is the beginning of the period, increased by 94.3% to 630325 tons in 2013. Major countries in world quince production are Turkey, China, Uzbekistan, Morocco and Iran. Quince production in Turkey increased by 1.60 times compared to the average of 1981-1985. In this increase in the quince production in Turkey, the increase in the per-tree yield has been considerably effective (an increase of 40%. 5.3% of quince fruit produced in the world is exported. World quince exports amount increased 8.32 times and the value increased 38.42 times. The highest share in quince export values is in the Netherlands (33.6%. The Netherlands is followed by Turkey, Austria and Iran respectively. The share of Turkey in the world export value is 31.1%. Russia ranks first in the world quince import with 23.3% share. Austria and Germany are followed by Russia.9.4% of the quince production in Turkey is exported. The major quince producers are Sakarya, Bursa, Antalya, Bilecik and Denizli. The 15 of the interviewed intermediaries, reported that the most important problem that there is no quince at the desired time, quantity, quality and price (54.

  18. The Dilemma of the Oil Market in the Current Geopolitical Context

    Directory of Open Access Journals (Sweden)

    Cristina Teodora Balaceanu

    2017-06-01

    Full Text Available In an increasingly globalized world, where the effects of technology have an overwhelming impact on people's lives, meaning an increase in appetite for consumption of luxury goods, of lifestyle, it seems that conventional resources are becoming fewer and their use in industrial processes lead to environmental harm, at least from pollution. Essentially, oil prices influence governments, companies, and markets of raw materials markets of finite economic goods, markets of conventional and unconventional energy and an assumed oil crisis would lead to stronger inflections on the market, with repercussions on the overall level of prices, the oil price being generally regarded as decisive for the other prices in the economy.

  19. World Economic Growth and Oil: a Producers' Perspective

    Science.gov (United States)

    Shihab-Eldin, Adnan

    2014-07-01

    This paper examines the following assertions: * A high share of oil price in GDP limits economic growth, * Oil Price shocks trigger recession, * These effects will be escalated by peaked oil supply and rising developing world demand and together with increasing contributions to climate change will result in a global emergency. The role of energy in societal development and economic growth, from primitive man through the industrial revolution and the oil age to the present and the evolution of energy intensity are described. The principle role of oil as a transport fuel and the possibilities of alternatives are examined. It is concluded that oil dependence will continue for the foreseeable future. The history of the industry, market behavior and its economic effects are presented to establish precedent and the assertions are then examined. It is shown that rising oil prices are an unavoidable consequence of economic growth, that they have stimulated efficient minimum functional use and made more difficult conventional and unconventional sources economic. It is then argued that potentially these additional resources eliminate the possibility of supply shortage and that diversification of supply lessens the possibility of shock, together rendering a global emergency less likely than could have been previously envisaged.

  20. World market for nanomaterials: structure and trends

    Directory of Open Access Journals (Sweden)

    Inshakova Elena

    2017-01-01

    Full Text Available Modern nanomaterials as well as the other advanced materials are aimed at scaled production application due to their unique physical and chemicals properties and the improved performance of final products, therefore at enforcing technological and economic progress of the countries. The article focuses on current state and key indicators of development of the world nanomaterials market, its key drivers and restraints, modern structure, emerging trends and prospects. Selected foreign and Russian databases, providing information on nanomaterials, which are applied in industrial production, and final products manufactured with the use of nanomaterials or nanotechnology are examined in the article. The authors come to the conclusion that information asymmetry, heterogeneity and even inconsistency of the information in the databases exist, thus making it difficult to obtain relevant business information both for manufacturers and consumers. These factors hinder development of nanoindustry in the Russian Federation, as well as national and regional markets for nano-enabled consumer products.

  1. World oil price behavior during oil supply disruptions: what can we learn from the past

    Energy Technology Data Exchange (ETDEWEB)

    Birdsall, T.H.

    1980-08-01

    The purpose of this paper is to: (1) examine how world oil prices have behaved during past oil supply disruptions, (2) attempt to understand why world oil prices have behaved during disruptions as they have, and (3) see what history foretells, if anything, for the behavior of world oil prices during future oil supply disruptions.

  2. Economics of oil bean ( Pentaclethra macrophylla ), seed marketing ...

    African Journals Online (AJOL)

    The study assessed the economics of oil bean marketing in Owerri agricultural zone of Imo state. Forty- five marketers oil bean marketers were randomly selected from three markets of the study area. Primary data were collected using structural questionnaire. Data collected were analysed using statistical tools such as ...

  3. Forecasting volatility of crude oil markets

    Energy Technology Data Exchange (ETDEWEB)

    Kang, Sang Hoon [Department of Business Administration, Gyeongsang National University, Jinju, 660-701 (Korea); Kang, Sang-Mok; Yoon, Seong-Min [Department of Economics, Pusan National University, Busan, 609-735 (Korea)

    2009-01-15

    This article investigates the efficacy of a volatility model for three crude oil markets - Brent, Dubai, and West Texas Intermediate (WTI) - with regard to its ability to forecast and identify volatility stylized facts, in particular volatility persistence or long memory. In this context, we assess persistence in the volatility of the three crude oil prices using conditional volatility models. The CGARCH and FIGARCH models are better equipped to capture persistence than are the GARCH and IGARCH models. The CGARCH and FIGARCH models also provide superior performance in out-of-sample volatility forecasts. We conclude that the CGARCH and FIGARCH models are useful for modeling and forecasting persistence in the volatility of crude oil prices. (author)

  4. Transporting US oil imports: The impact of oil spill legislation on the tanker market

    Energy Technology Data Exchange (ETDEWEB)

    Rowland, P.J. (Rowland (P.) Associates (United States))

    1992-05-01

    The Oil Pollution Act of 1990 ( OPA'') and an even more problematic array of State pollution laws have raised the cost, and risk, of carrying oil into and out of the US. This report, prepared under contract to the US Department of energy's Office of Domestic and International Policy, examines the impact of Federal and State oil spill legislation on the tanker market. It reviews the role of marine transportation in US oil supply, explores the OPA and State oil spill laws, studies reactions to OPA in the tanker and tank barge industries and in related industries such as insurance and ship finance, and finally, discusses the likely developments in the years ahead. US waterborne oil imports amounted to 6.5 million B/D in 1991, three-quarters of which was crude oil. Imports will rise by almost 3 million B/D by 2000 according to US Department of energy forecasts, with most of the crude oil growth after 1995. Tanker demand will grow even faster: most of the US imports and the increased traffic to other world consuming regions will be on long-haul trades. Both the number of US port calls by tankers and the volume of offshore lightering will grow. Every aspect of the tanker industry's behavior is affected by OPA and a variety of State pollution laws.

  5. Oil Prophets: Looking at World Oil Studies Over Time

    Energy Technology Data Exchange (ETDEWEB)

    Andrews, Steve [Denver, CO (United States); Udall, Randy [Carbondale, CO (United States)

    2003-07-01

    Early reports of world oil assessments date back to the 1940s. In the intervening 60 years, the number of studies projecting Estimated Ultimately Recoverable (EUR) oil reached well over 50. A detailed search would undoubtedly lengthen the list that will be provided with this paper. How have their estimates fared? Given general agreement that we haven't yet reached the halfway point in eventual production, it's too early to offer definitive assessments. However, several factors stand out: The learning curve. It took over a decade of effort for projections to emerge that are in line with lower-end projections of more recent studies. The learning curve has flattened. For those individuals and groups who conducted multiple studies, their subsequent EUR numbers generally trend higher. The analyses lack a common definitional framework. Beyond crude oil, what liquids are included? Heavy oil and tar sands? Some or all gas liquids? Polar and deepwater oil? While the ability to locate, evaluate and extract oil in the field has drastically improved over time, analysts continue to be hampered by a lack of access to definitive data plus disagreements about assessment methodologies. Striving to determine how many petroleum liquids we have left is a useful exercise, but primarily as a means to help determine when daily worldwide production is likely to peak. To that end, a key point is that 'not all liquids resources are created equal'; many of the larger new fields are located in harsh and remote regions, in politically unstable environments, or require large energy inputs during extraction. Production rates and costs will vary dramatically. Since demand is somewhat fickle, identifying a year or range of years when liquids production will peak qualifies as part art, part science. That said, the paper will list estimates by 'oil prophets' as to when they project that petroleum liquids production will peak. The estimates range from 1995 to 2025. How

  6. 2010 Outlook of the U.S. and World Sugar Markets, 2009-2019

    OpenAIRE

    Taylor, Richard D.; Won W. KOO

    2010-01-01

    This report evaluates the U.S. and world sugar markets for 2009-2019 using the Global Sugar Policy Simulation Model. This analysis is based on assumptions about general economic conditions, agricultural policies, population growth, weather conditions, and technological changes. Both the U.S. and world sugar economies are predicted to remain stable over the next ten years in spite of the 2007-08 increase in world oil prices. That increase in oil price caused an increase in the conversion of su...

  7. Cross-correlations and influence in world gold markets

    Science.gov (United States)

    Lin, Min; Wang, Gang-Jin; Xie, Chi; Stanley, H. Eugene

    2018-01-01

    Using the detrended cross-correlation analysis (DCCA) coefficient and the detrended partial cross-correlation analysis (DPCCA) coefficient, we investigate cross-correlations and net cross-correlations among five major world gold markets (London, New York, Shanghai, Tokyo, and Mumbai) at different time scales. We propose multiscale influence measures for examining the influence of individual markets on other markets and on the entire system. We find (i) that the cross-correlations, net cross-correlations, and net influences among the five gold markets vary across time scales, (ii) that the cross-market correlation between London and New York at each time scale is intense and inherent, meaning that the influence of other gold markets on the London-New York market is negligible, (iii) that the remaining cross-market correlations (i.e., those other than London-New York) are greatly affected by other gold markets, and (iv) that the London gold market significantly affects the other four gold markets and dominates the world-wide gold market. Our multiscale findings give market participants and market regulators new information on cross-market linkages in the world-wide gold market.

  8. The Strategic Importance of the Global Oil Market

    Science.gov (United States)

    2015-06-01

    would often cause oil prices to rise. Not so much anymore. Short of a major oil disruption in the Mideast, low oil prices now reflect an oil glut ... glut .18 To be fair, U.S. shale oil producers are not the only ones creating this glut . The Bank for International Settlements correctly argues...shale oil is fuelling an oil glut . The crude oil market is now over-supplied by as much as 2 million barrels a day. As a result, crude oil inventories

  9. OIL PRICES AND THE KUWAITI AND THE SAUDI STOCK MARKETS

    Directory of Open Access Journals (Sweden)

    Samih Antoine Azar

    2013-01-01

    Full Text Available The purpose of this paper is to test the impact of oil price shocks on the stock markets of the two biggest and most liquid GCC equity markets, those of Kuwait and Saudi Arabia. It is expected that the two stock markets react similarly to oil price shocks. Actually the results show heterogeneity in responses. While there is prima facie evidence that both stock markets are influenced positively and linearly by oil price shocks, this evidence disappears when additional variables are added to the regressions. With the larger specification oil price shocks do not impact, neither linearly or non-linearly, Kuwaiti stock markets. By contrast Saudi markets react non-linearly to both oil price shocks and shocks in the US S&P 500. The only common feature for both equity markets is the positive relation with the shocks in the US S&P 500.

  10. Russian market of oil and fat products in a competitive environment

    Directory of Open Access Journals (Sweden)

    S. M. Ryzhkova

    2016-01-01

    Full Text Available The effective development of the Russian market of oil and fat products, as part of the food market, food security is an essential factor. Russia as a whole is fully self-sufficient in oil and it is a major exporter. Russia has the advantage that, in fact, all of its territory is suitable for cultivation of oilseed crops. In fact, in every region can grow oilseeds, which are in demand on the world market. Products include oil and fat industry for products deep processing and multi-functional. The peculiarity of the Russian market of oilseeds is the diversity of its constituent markets. The Russian market is represented by a different range of fat and oil products domestic and foreign manufacturers. In this market, working as large agricultural holdings and small manufacturers, and processors. The purpose of the study is to study on the basis of indicators that characterize the current state of the Russian market of oil and fat products, a comparison of the situation and of the experience of large processors, identify measures to further the efficient and competitive development of the market for the long term. The study used the abstract logic, monographic, economic and statistical methods. In a competitive environment, to stay on the market, Fat organizations form its structure in the form of vertical integration of multidisciplinary groups, in addition to processing plants that include agribusiness organization, logistics units – transportation, elevators, trading houses. For the development of the market of oil and fat products necessary to improve the competitiveness of domestic products, to revive production of traditional domestic oilseeds led to crop rotation, new, high-tech, innovative use of technology, to develop export, search for new markets. The results can then be used to develop long-term programs of development of regions. Conclusions and recommendations will contribute to a competitive mechanism of functioning and development

  11. Marketing to physicians in a digital world.

    Science.gov (United States)

    Manz, Christopher; Ross, Joseph S; Grande, David

    2014-11-13

    Pharmaceutical marketing can lead to overdiagnosis, overtreatment, and overuse of medications. Digital advertising creates new pathways for reaching physicians, allowing delivery of marketing messages at the point of care, when clinical decisions are being made.

  12. The international oil market; Mercado petrolero internacional

    Energy Technology Data Exchange (ETDEWEB)

    Romo R, Daniel; Galina H, Sergio; Perez A, Alfonso [Instituto Mexicano del Petroleo (IMP), Mexico, D.F. (Mexico)

    2006-11-15

    In the last years, the international prices of oil have shown a bullish behavior that was accelerated from the 2003 to date. This work has the objective of making a diagnosis of the structural and conjunctural factors that determine the present behavior of the international oil market, and in particular of its price level, with base in establishing general guidelines over its behavior in the medium term. It is concluded that the international demand of oil will show a smaller growth of the energy consumption and that the efforts made by the producers will be able to take care of that demand, but that the prices of the marking crudes will stay at least above 50 dollars per barrel during the balance of the decade. [Spanish] En los ulimos anos, los precios internacionales del petroleo han mostrado un comportamiento alcista que se acelero desde 2003 a la fecha. Este trabajo tiene el objetivo de realizar un diagnostico de los factores estructurales y coyunturales que determinan el comportamiento actual del mercado petrolero internacional, y en particular de su nivel de precios. Con base en establecen lineamentos generales sobre su comportamiento en el mediano plazo. Se concluye que la demanda internacional de petroleo mostrara un menor crecimiento del consumo de energia y que los esfuerzos realizados por los productores podran atender esa demanda, pero que los precios de los crudos marcadores se mantendran al menos por arriba de los 50 dolares por barril en lo que resta de la decada.

  13. The Turkish stock market integration with oil prices: Cointegration analysis with unknown regime shifts

    Directory of Open Access Journals (Sweden)

    Halaç Umut

    2013-01-01

    Full Text Available Oil prices are often considered as a vital economic factor due to the dependence of the world economy on oil. The goal of this paper is to contribute to the literature on the dynamic relationship between oil prices and stock prices under the presence of possible structural breaks in an emerging market, Turkey. The empirical evidence suggests that the oil prices are important in explaining the stock market movements. Stock prices, oil prices and nominal exchange rates are found as cointegrated after taking structural breaks into account. Moreover, results of parameter stability test are consistent with our findings indicating that relationship between series is strong in the long-run. The results are important in the way that they show the global factors are also dominant on the Turkish stock market.

  14. Oil price shocks and GCC capital markets: who drives whom?

    OpenAIRE

    Rizvi, Aun; Masih, Mansur

    2014-01-01

    Global reliance on Hydrocarbon sector has dramatically increased multi-fold which has led to rise to dominance of GCC. GCC is home to 45% of the proven oil reserves and contributes nearly 35% of the world oil exports annually. With such heavy reliance of the world on GCC for its oil produce, and the GCC’s economic reliance on Oil and Gas exports, the matter of world oil price shocks and its transmission to other areas of economy is of immense importance to the GCC economies. With Oil wealth a...

  15. Market analysis of shale oil co-products. Appendices

    Energy Technology Data Exchange (ETDEWEB)

    1980-12-01

    Data are presented in these appendices on the marketing and economic potential for soda ash, aluminia, and nahcolite as by-products of shale oil production. Appendices 1 and 2 contain data on the estimated capital and operating cost of an oil shales/mineral co-products recovery facility. Appendix 3 contains the marketing research data.

  16. Does oil price uncertainty transmit to the Thai stock market?

    Directory of Open Access Journals (Sweden)

    Komain Jiranyakul

    2014-12-01

    Full Text Available This study investigates the impact of oil price uncertainty on the Stock Exchange of Thailand. Monthly data from May 1987 to December 2013 are applied to the two-stage procedure. In the first step, a bivariate generalized autoregressive conditional heteroskedastic (GARCH model is estimated to obtain the volatility series of stock market index and oil price. In the second step, the pairwise Granger causality tests are performed to determine the direction of volatility transmission between oil to stock markets. It is found that movement in real oil price does not adversely affect real stock market return, but stock price volatility does affect real stock return. In the sense of causality, there exists a positive one-directional volatility transmission running from oil to stock market. Oil price change and its uncertainty also adversely affect two main sub-index returns. These important findings give some implications for risk management and policy measures.

  17. Oil, Security, and the Post-9/11 World

    National Research Council Canada - National Science Library

    Hermsmeyer, Gregory

    2002-01-01

    The September 11, 2001, terrorist attacks did not directly threaten world oil supplies, but they exposed the long-term danger of relying on an energy source found chiefly in one of the world's most explosive regions...

  18. From market games to real-world markets

    Science.gov (United States)

    Jefferies, P.; Hart, M. L.; Hui, P. M.; Johnson, N. F.

    2001-04-01

    This paper uses the development of multi-agent market models to present a unified approach to the joint questions of how financial market movements may be simulated, predicted, and hedged against. We first present the results of agent-based market simulations in which traders equipped with simple buy/sell strategies and limited information compete in speculatory trading. We examine the effect of different market clearing mechanisms and show that implementation of a simple Walrasian auction leads to unstable market dynamics. We then show that a more realistic out-of-equilibrium clearing process leads to dynamics that closely resemble real financial movements, with fat-tailed price increments, clustered volatility and high volume autocorrelation. We then show that replacing the `synthetic' price history used by these simulations with data taken from real financial time-series leads to the remarkable result that the agents can collectively learn to identify moments in the market where profit is attainable. Hence on real financial data, the system as a whole can perform better than random. We then employ the formalism of Bouchaud in conjunction with agent based models to show that in general risk cannot be eliminated from trading with these models. We also show that, in the presence of transaction costs, the risk of option writing is greatly increased. This risk, and the costs, can however be reduced through the use of a delta-hedging strategy with modified, time-dependent volatility structure.

  19. Medium-Term Oil Market Report (MTOMR) 2008

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2008-07-15

    Why have oil prices hit US$140 per barrel? How strong will oil demand be in the upcoming years? Will supply of crude oil, natural gas liquids and biofuels be sufficient to meet this future demand? And, no less crucially, what investments in refining capacity and technology can we expect and will these help ease some of the imbalance in strained oil product markets? The Medium-Term Oil Market Report (now in its third year) published by the International Energy Agency (IEA) has become a new benchmark, complementing the short-term market analysis provided in the IEA Oil Market Report. This year's edition reappraises all upstream and downstream projects worldwide, setting them against a revised demand forecast and expanding the time horizon to 2013. Special features this year include in-depth analyses of price formation, transport trends, non-OECD economies, non-OPEC production decline, project slippage, key crude export pipeline developments and a stronger emphasis on product supply bottlenecks. An essential report for all policy makers, market analysts, energy experts and anyone interested in understanding and following oil market trends, the Medium-Term Oil Market Report is a further element of the strong commitment of the IEA to improving and expanding the quality, timeliness and accuracy of energy data and analysis.

  20. Neo-Liberal International Economy and World Oil Price

    Energy Technology Data Exchange (ETDEWEB)

    Lee, Jun Beom [Korea National Oil Corporation, Anyang (Korea)

    2001-06-01

    World oil price has been rapidly going up for almost 2 years. The recent high oil price, which has started from March 1999 about to close the 20th century, ended the period of the low oil price that had continued in 1990s and made the entry into the period of the high oil price as an established fact, so the oil consumers have taken it as the considerable economic impacts. The possibility of the world economic stagnation, which has been raised recently, seems to reconfirm the conventional wisdom that the world economic stagnation comes after the period of the high oil price as the Minister of Energy department, Abraham Spencer, mentioned in March. However, it is necessary to differently understand the recent high oil price because it occurred under the circumstance of neo-liberalism, a new international economic system.

  1. Strategy implications of world gas market dynamics

    NARCIS (Netherlands)

    Weijermars, R.

    2011-01-01

    Global trends – past and future – of world natural gas consumption, production, reserves, and prices are highlighted here analyzing the BP Statistical Review of World Energy 2011, the BP Energy Outlook 2011, and the latest natural gas data from the world’s major energy agencies. Growing demand and

  2. Extreme Value Theory and Value at Risk. Application to oil market

    Energy Technology Data Exchange (ETDEWEB)

    Marimoutou, Velayoudoum [GREQAM, Universite de la Mediterranee, Institut Francais de Pondichery (France); Raggad, Bechir; Trabelsi, Abdelwahed [BESTMOD, Institut Superieur de Gestion de Tunis (Tunisia)

    2009-07-15

    Recent increases in energy prices, especially oil prices, have become a principal concern for consumers, corporations, and governments. Most analysts believe that oil price fluctuations have considerable consequences on economic activity. Oil markets have become relatively free, resulting in a high degree of oil-price volatility and generating radical changes to world energy and oil industries. Consequently, oil markets are naturally vulnerable to significant high price shifts. An example of such a case is the oil embargo crisis of 1973. In this newly created climate, protection against market risk has become a necessity. Value at Risk (VaR) measures risk exposure at a given probability level and is very important for risk management. Appealing aspects of Extreme Value Theory (EVT) have made convincing arguments for its use in managing energy price risks. In this paper, we model VaR for long and short trading positions in oil market by applying both unconditional and conditional EVT models to forecast Value at Risk. These models are compared to the performances of other well-known modelling techniques, such as GARCH, Historical Simulation and Filtered Historical Simulation. Both conditional EVT and Filtered Historical Simulation procedures offer a major improvement over the conventional methods. Furthermore, GARCH(1, 1)-t model may provide equally good results which are comparable to two combined procedures. Finally, our results confirm the importance of filtering process for the success of standard approaches. (author)

  3. Globalization and internationalization of world food and agricultural product markets

    OpenAIRE

    Bakhyt, Arnabol; Nurgazina, Gulmira

    2014-01-01

    Interpretation of globalization and internalization influence on the world food and agricultural product markets is examined in the article. Moreover, the global problem of food safety is also examined.

  4. Shale oil specialty markets: Screening survey for United States applications

    Energy Technology Data Exchange (ETDEWEB)

    1987-12-01

    EG and G requested J. E. Sinor Consultants Inc. to carry out an initial screening study on the possibilities for producing specialty chemicals from oil shale. Raw shale oil is not an acceptable feedstock to refineries and there are not enough user of heavy fuel oil in the western oil shale region to provide a dependable market. The only alternatives are to hydrotreat the oil, or else ship it long distances to a larger market area. Either of these alternatives results in a cost penalty of several dollars per barrel. Instead of attempting to enter the large-volume petroleum products market, it was hypothesized that a small shale oil facility might be able to produce specialty chemicals with a high enough average value to absorb the high costs of shipping small quantities to distant markets and still provide a higher netback to the plant site than sales to the conventional petroleum products market. This approach, rather than attempting to refine shale oil or to modify its characteristics to satisfy the specifications for petroleum feedstocks or products, focuses instead on those particular characteristics which distinguish shale oil from petroleum, and attempts to identify applications which would justify a premium value for those distinctive characteristics. Because byproducts or specialty chemicals production has been a prominent feature of oil shale industries which have flourished for periods of time in various countries, a brief review of those industries provides a starting point for this study. 9 figs., 32 tabs.

  5. Oil market power and United States national security.

    Science.gov (United States)

    Stern, Roger

    2006-01-31

    It is widely believed that an oil weapon could impose scarcity upon the United States. Impending resource exhaustion is thought to exacerbate this threat. However, threat seems implausible when we consider strategic deficits of prospective weapon users and the improbability of impending resource exhaustion. Here, we explore a hypothesis relating oil to national security under a different assumption, abundance. We suggest that an oil cartel exerts market power to keep abundance at bay, commanding monopoly rents [or wealth transfers (wt)] that underwrite security threats. We then compare security threats attributed to the oil weapon to those that may arise from market power. We first reexamine whether oil is abundant or scarce by reviewing current development data, then we estimate a competitive price for oil. From this, we derive wt(2004) collections by Persian Gulf states approximately USD $132-178 x 10(9). We find that wt and the behavior of states collecting it interact to actuate security threats. Threats underwritten by wt are (i) the potential for emergence of a Persian Gulf superpower and (ii) terrorism. It is therefore oil market power, not oil per se, that actuates threats. We also describe a paradox in the relation of market power to the United States' defense doctrine of force projection to preempt a Gulf superpower. Because the superpower threat derives from wt, force alone cannot preempt it. A further paradox is that because foreign policy is premised on oil weapon fear, market power is appeased. Threats thereby grow unimpeded.

  6. Energy independence versus world market; Independance energetique versus marche mondial

    Energy Technology Data Exchange (ETDEWEB)

    Noel, P

    2003-07-01

    The geo-policy is the unity of the rules and political actions coming from taking into account the problem of the national energy demands facing the world energy market. The aim of this paper is to show that these actions are confronted to two paradigms of public policy. One is the research of the energy policy, the other is the effort of building and safety of the world market. (A.L.B.)

  7. Projected world market for seawater desalination equipment

    Energy Technology Data Exchange (ETDEWEB)

    1984-10-01

    A forecast is presented of the market for seawater desalination plants. The conclusions presented herein are based on a number of sources of information, of which the most important are: responses to questionnaires mailed to 300 cognizant water agencies in 61 countries; the published market growth trend over the period 1971 to 1983; and an analysis of the geography, rainfall, population, industrial growth, and energy availability in the respective countries. Analysis suggests the possibility that financing, although currently a major stumbling block to the purchase of desalting plants, may be effected by an exchange program in which the purchaser of plants will offer some exportable product(s) in exchange. The forecast suggests the likelihood that the seawater desalination market is becoming saturated. A plateau is expected to develop in new plant sales of additional capacity in the immediate future, followed by a downturn by the end of the century. This report, however, emphasizes the importance of the replacement market, which will involve substantial sales to replace worn-out and obsolescent equipment. The combined new-plus-replacement annual sales can be expected to reach 1.25 million m/sup 3//d (330 Mgd) by the year 2000. Seawater reverse osmosis (SWRO) is expected to represent 270,000 m/sup 3//d (70 Mgd) by the end of the century because of technological improvements in membrane systems and components.

  8. A Visual Language for World Marketing.

    Science.gov (United States)

    Vanden Bergh, Bruce G.; Sentell, Gerald D.

    A practical solution to many of the communication obstacles found in international markets can be found in the development and widespread adoption of a standardized system of international graphic symbols. Any plan to develop and implement a truly acceptable and universal system of graphic symbols will have to overcome many obstacles that past…

  9. The world heroin market : Can supply be cut?

    NARCIS (Netherlands)

    Paoli, L.; Greenfield, V.A.; Reuter, P.

    2009-01-01

    This book proceeds in three parts. The first part sets out basic facts. It reviews the historical development of the world opiate market. The second part explores market conditions in Afghanistan, Burma, India, Columbia and Tajikistan in greater detail. The fourth appendix (D) provides information

  10. The world ginseng market and the ginseng (Korea).

    Science.gov (United States)

    Baeg, In-Ho; So, Seung-Ho

    2013-03-01

    Ginseng is being distributed in 35 countries around the world and there are differences by each country in the distribution volume and amount. However, since there is no accurate statistics on production and distribution amount by each country, it is very difficult to predict the world ginseng market. Ginseng trading companies and governments are in desperate need of comprehensive data that shows the world ginseng market status for sales and marketing. For that reason, this study will look into the approximate size of the world ginseng market based on recent ginseng distribution amount by each country and production by major ginseng producing nations. In addition, the review sets an opportunity to check the status of ginseng (Korea) in the world and presents future direction by examining recent history of ginseng development in Korea, which is one of the world's largest ginseng distributers. Since ginseng is cultivated in limited areas due to its growth characteristics, ginseng distributing countries can be divided based on whether they grow it domestically or not. In general, four countries including South Korea, China, Canada, and the US are the biggest producers and their total production of fresh ginseng is approximately 79,769 tons which is more than 99% of 80,080 tons, the total ginseng production around the world. Ginseng is distributed to different countries in various forms such as fresh ginseng, dried ginseng, boiled and dried ginseng (Taekuksam), red ginseng and the related products, etc. and is consumed as food, dietary supplements, functional food, medical supplies, etc. Also, the world ginseng market including ginseng root and the processed products, is estimated to be worth $2,084 million. In particular, the size of the Korean market is $1,140 million which makes Korea the largest distributer in the world. Since the interests in alternative medicine and healthy food is increasing globally, the consumer market of ginseng with many features and the

  11. 2009 Outlook of the U.S. and World Sugar Markets, 2008-2018

    OpenAIRE

    Won W. KOO; Taylor, Richard D.

    2009-01-01

    This report evaluates the U.S. and world sugar markets for 2008-2018 using the Global Sugar Policy Simulation Model. This analysis is based on assumptions about general economic conditions, agricultural policies, population growth, weather conditions, and technological changes. Both the U.S. and world sugar economies are predicted to remain stable over the next ten years in spite of the 2007-08 surge in world oil prices. That increase in price caused an increase in the conversion of sugar int...

  12. Reserve growth of the world's giant oil fields

    Science.gov (United States)

    Klett, T.R.; Schmoker, J.W.

    2005-01-01

    Analysis of estimated total recoverable oil volume (field size) of 186 well-known giant oil fields of the world (>0.5 billion bbl of oil, discovered prior to 1981), exclusive of the United States and Canada, demonstrates general increases in field sizes through time. Field sizes were analyzed as a group and within subgroups of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC countries. From 1981 through 1996, the estimated volume of oil in the 186 fields for which adequate data were available increased from 617 billion to 777 billion bbl of oil (26%). Processes other than new field discoveries added an estimated 160 billion bbl of oil to known reserves in this subset of the world's oil fields. Although methods for estimating field sizes vary among countries, estimated sizes of the giant oil fields of the world increased, probably for many of the same reasons that estimated sizes of oil fields in the United States increased over the same time period. Estimated volumes in OPEC fields increased from a total of 550 billion to 668 billion bbl of oil and volumes in non-OPEC fields increased from 67 billion to 109 billion bbl of oil. In terms of percent change, non-OPEC field sizes increased more than OPEC field sizes (63% versus 22%). The changes in estimated total recoverable oil volumes that occurred within three 5-year increments between 1981 and 1996 were all positive. Between 1981 and 1986, the increase in estimated total recoverable oil volume within the 186 giant oil fields was 11 billion bbl of oil; between 1986 and 1991, the increase was 120 billion bbl of oil; and between 1991 and 1996, the increase was 29 billion bbl of oil. Fields in both OPEC and non-OPEC countries followed trends of substantial reserve growth.

  13. oils marketed in dar es salaam

    African Journals Online (AJOL)

    b) Palm Oil Mpishi Tradeco Oil Industries Ltd., Tanzania c) Cotton Seed Okay VOIL, Tanzania d) Soya bean Marhaba Tradeco Oil Industries Ltd., Tanzania e) Coconut Maſutaya Nazi Coastal region of Tanzania. * All brands except for Mafutaya Nazi indicated an expiry date of about a year at the time the oils were bought.

  14. Time-varying correlation between oil and stock market volatilities: Evidence from oil-importing and oil-exporting countries

    OpenAIRE

    Boldanov, R.; Degiannakis, S.; Filis, George

    2015-01-01

    This paper investigates the time-varying conditional correlation between oil price and stock market volatility for six major oil-importing and oil-exporting countries. The period of the study runs from January 2000 until December 2014 and a Diag-BEKK model is employed. Our findings report the following regularities. (i) The correlation between the oil and stock market volatilities changes over time fluctuating at both positive and negative values. (ii). Heterogeneous patterns in the time-vary...

  15. A Study on the Determination of the World Crude Oil Price and Methods for Its Forecast

    Energy Technology Data Exchange (ETDEWEB)

    Kim, J.K. [Korea Energy Economics Institute, Euiwang (Korea)

    2001-11-01

    The primary purpose of this report is to provide the groundwork to develop the methods to forecast the world crude oil price. The methodology is used by both literature survey and empirical study. For this purpose, first of all, this report reviewed the present situation and the outlook of the world oil market based on oil demand, supply and prices. This analysis attempted to provide a deeper understanding to support the development of oil forecasting methods. The result of this review, in general, showed that the oil demand will be maintained annually at an average rate of around 2.4% under assumption that oil supply has no problem until 2020. The review showed that crude oil price will be a 3% increasing rate annually in the 1999 real term. This report used the contents of the summary review as reference data in order to link the KEEIOF model. In an effort to further investigate the contents of oil political economy, this report reviewed the articles of political economy about oil industry. It pointed out that the world oil industry is experiencing the change of restructuring oil industry after the Gulf War in 1990. The contents of restructuring oil industry are characterized by the 'open access' to resources not only in the Persian Gulf, but elsewhere in the world as well - especially the Caspian Sea Basin. In addition, the contents showed that the oil industries are shifted from government control to government and industry cooperation after the Gulf War. In order to examine the characters and the problems surrounding oil producing countries, this report described the model of OPEC behavior and strategy of oil management with political and military factors. Among examining the models of OPEC behavior, this report focused on hybrid model to explain OPEC behavior. In reviewing political and religious power structure in the Middle East, the report revealed that US emphasizes the importance of the Middle East for guaranteeing oil security. However, three

  16. Market Survey on Oil and Gas in Algeria

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-09-15

    The purpose of this market survey is to provide adequate information concerning the Oil and Gas sector in Algeria to interested Dutch investors and suppliers to be aware of the potential and the opportunities available in this sector.

  17. The Middle East: Its role in world oil. A survey of the issues

    Energy Technology Data Exchange (ETDEWEB)

    Radetski, M. (Lulea Univ. (Sweden))

    1992-01-01

    The importance of the Middle East oil resource base is exceptional, in quantitative as well as economic terms. A review is presented of this resource base, and the economic and political factors associated with it. In 1990 oil from the Middle East accounted for 27% of world output, and accounts for 65% of proven world oil reserves. The viability of OPEC's role in controlling market prices is discussed, and it is proposed that high prices such as those in the early 1980s are unlikey to re-occur, and that control of capacity to keep prices above competitive levels but not high enough to induce large scale expansion outside the region is the rational course of action. Political instability in the Middle East and its destabilizing impact on oil supply is discussed. 12 refs., 2 tabs.

  18. Current Log-Periodic View on Future World Market Development

    Science.gov (United States)

    Drożdż, S.; Kwapień, J.; Oświęcimka, P.; Speth, J.

    2008-09-01

    Applicability of the concept of financial log-periodicity is discussed and encouragingly verified for various phases of the world stock markets development in the period 2000-2010. In particular, a speculative forecasting scenario designed in the end of 2004, that properly predicted the world stock market increases in 2007, is updated by setting some more precise constraints on the time of duration of the present long-term equity market bullish phase. A termination of this phase is evaluated to occur in around November 2009. In particular, on the way towards this dead-line, a Spring-Summer 2008 increase is expected. On the precious metals market a forthcoming critical time signal is detected at the turn of March/April 2008 which marks a tendency for at least a serious correction to begin.

  19. Price dependence in the principal EU olive oil markets

    Directory of Open Access Journals (Sweden)

    Christos Emmanouilides

    2013-12-01

    Full Text Available The objective of this paper is to assess the degree and the structure of price dependence in the principal EU olive oil markets (Spain, Italy and Greece. To this end, it utilizes monthly olive oil price data and the statistical tool of copulas. The empirical results suggest that prices are likely to boom together but not to crash together; this is especially true for the prices of the two most important players, Italy (importer and Spain (exporter. The finding of asymmetric price co-movements implies that the three principal spatial olive oil markets in the EU cannot be thought of as one great pool.

  20. HOW AFFECTED WAS WORLD INSURANCE MARKET BY GLOBAL CRISIS?

    Directory of Open Access Journals (Sweden)

    ANA PREDA

    2013-12-01

    Full Text Available Global economic and financial crisis triggered in 2008 had a significant impact with effects in economical life worldwide. Insurance industry wasn't spared but was less affected than other sectors of the world economy. The aim of the present paper is to underline the main crisis effects on global insurance market through a comparative study between different regions from the world, taking into consideration the main indicators which give us an insurance market dimension, such as: gross premium volume, insurance density and insurance penetration.

  1. Crude Oil Spot Price Forecasting Based on Multiple Crude Oil Markets and Timeframes

    Directory of Open Access Journals (Sweden)

    Shangkun Deng

    2014-04-01

    Full Text Available This study proposes a multiple kernel learning (MKL-based regression model for crude oil spot price forecasting and trading. We used a well-known trend-following technical analysis indicator, the moving average convergence and divergence (MACD indicator, for extracting features from original spot prices. Additionally, we factored in the possibility that movements of target crude oil prices may be related to other important crude oil markets besides the target market for the prediction time horizon since traders may find price movement information within other relevant crude oil markets useful. We also considered multiple timeframes in this study since trends may differ across different timeframes and, in fact, traders may use their own timeframes. Therefore, for forecasting target crude oil prices, this study emphasizes on features pertaining to other important crude oil markets and different timeframes in addition to features of the target crude oil market and target timeframe. Moreover, the MKL framework has been used to fuse information extracted from different sources and timeframes of the same data source. Experimental results show that out-of-sample forecasting using the MKL method is superior to benchmark methods in terms of root mean square error (RMSE and average percentage profit (APP. They also show that the information from multiple timeframes is useful for prediction, but that from another crude oil market is not.

  2. Olive and olive pomace oil packing and marketing

    Directory of Open Access Journals (Sweden)

    Berzosa, Juan

    2006-03-01

    Full Text Available The paper describes the industrial installations and equipments used by the olive oil sector for olive oil packing, the different types of containers used (plastic, glass, tin, and carton, and the diverse technologies applied for filling, stoppering, labelling, and packing as well as the trend and new technologies developed according to the material of the containers and the markets’ demands.Some logistic aspects such as palletization, storage, and shipment of final products are also discussed. The use of modern tools and codification systems like EAN 128 permits to follow the product distribution and assure the traceability of packed oils.The last part of the article includes the world and EU production and consumption of olive oil, paying special attention to the peculiarities of the main EU producers (Spain, Italy, Greece, and Portugal. Finally, the olive oil consumption in third countries is analysed and the consumption and its trend in merging markets like USA, Australia, and Japan commented.En este artículo se describen los equipos e instalaciones industriales que utiliza el sector del aceite de oliva para el envasado de los aceites de oliva, los tipos de envases más empleados (plástico, vidrio, metálicos y cartón y las diferentes tecnologías de llenado, taponado, etiquetado y embalado, así como las tendencias y nuevas tecnologías en función del material de los envases y la demanda de los mercados.Se contemplan también aspectos logísticos como el paletizado, el almacenamiento y la expedición del producto terminado. El uso de modernas herramientas y sistemas de codificación como el EAN 128 permite el seguimiento del producto y la trazabilidad de los aceites envasados a lo largo de la cadena de distribución.En la última parte del artículo, se indican cifras de producción y consumo de aceite de oliva en el mundo y en la Unión Europea. Se comentan especialmente las peculiaridades de los principales países productores de la

  3. oils marketed in dar es salaam

    African Journals Online (AJOL)

    Official Analytical Chemists (AOAC). ... METHODS. Seven brands of locally produced edible vegetable oils (Table 1) were randomly collected off the shelf around Dar es Salaam. Table 1: Edible oils, their brand and manufacturer names, ... in the Sealed bottles Were similarly analyzed for peroxide value over 60 days. 50 ...

  4. World chicken meat market – its development and current status

    Directory of Open Access Journals (Sweden)

    Anna Vladimirovna Belova

    2012-01-01

    Full Text Available The global meat market and primarily the chicken meat market represents a very dynamically developing area. The objective of the present article is the analysis of the chicken meat market in the world in order to identify the basic development trends associated with the development of production of and trade in chicken meat, and also in order to identify the individual entities controlling the global chicken meat market. In methodological terms, the article analyzes the development of production of, consumption of and trade (export and import in chicken meat in the years 1961–2009. The main sources of data necessary for the processing of the individual analyses are the FAOSTAT and UN COMTRADE databases. The results of the conducted analysis show the following findings. World production of poultry meat increased from 7.5 million tons to more than 86 million tons. The global market reacted in a flexible manner, in which there was an increase in volumes of executed trade from 271 thousand tons/year in the year 1961 to more than 10.7 million tons/year in the year 2010. Further, the value of world trade in chicken meat within the analyzed period increased from approximately USD 169 million to approximately USD 16 billion. If we analyze the global chicken meat market, it may be stated that it is very concentrated. The analysis of the global market further shows that Brazil, the USA and China represent, in terms of global production, consumption and trade, the main driving force on the chicken meat market. These three countries have a share in global production of approximately 46%, their share in global consumption ranges at a level of over 40%. The share of these countries in global export ranges at a level exceeding 50%.

  5. Transporting US oil imports: The impact of oil spill legislation on the tanker market. Draft final report

    Energy Technology Data Exchange (ETDEWEB)

    Rowland, P.J. [Rowland (P.) Associates (United States)

    1992-05-01

    The Oil Pollution Act of 1990 (``OPA``) and an even more problematic array of State pollution laws have raised the cost, and risk, of carrying oil into and out of the US. This report, prepared under contract to the US Department of energy`s Office of Domestic and International Policy, examines the impact of Federal and State oil spill legislation on the tanker market. It reviews the role of marine transportation in US oil supply, explores the OPA and State oil spill laws, studies reactions to OPA in the tanker and tank barge industries and in related industries such as insurance and ship finance, and finally, discusses the likely developments in the years ahead. US waterborne oil imports amounted to 6.5 million B/D in 1991, three-quarters of which was crude oil. Imports will rise by almost 3 million B/D by 2000 according to US Department of energy forecasts, with most of the crude oil growth after 1995. Tanker demand will grow even faster: most of the US imports and the increased traffic to other world consuming regions will be on long-haul trades. Both the number of US port calls by tankers and the volume of offshore lightering will grow. Every aspect of the tanker industry`s behavior is affected by OPA and a variety of State pollution laws.

  6. The Effects of Commodities and Financial Markets on Crude Oil

    Directory of Open Access Journals (Sweden)

    Galyfianakis Georgios

    2017-01-01

    Full Text Available Investigating crude oil price volatility is crucial, because crude oil price certainly affects the economy through many channels. This study applies a Vector Auto Regression (VAR model to examine the impact of crude oil market on basic commodities, financial markets and industrial production. We find that the production in the US economy has an important effect on the crude oil prices. In addition we noticed a higher increase in crude oil price volatility after a large negative shock, contrary to a large positive one. Also, it was found that, in the short-run, oil price volatility is not influenced by short-run interest rates or industrial production. An adverse linkage between crude oil prices and industrial production has been proved confirming the economic theorists claiming that there is a close linkage between oil price shocks and economic activity. Finally, our findings indicate that there is Granger causality between crude oil and the endogenous variables used in the Granger causality framework.

  7. WORLD MALT AND MALTING BARLEY: COMPETITION, MARKETING, AND TRADE

    OpenAIRE

    Satyanarayana, Vidyashankara; Wilson, William W.; Johnson, D. Demcey; Dooley, Frank J.

    1996-01-01

    Recent trends in production marketing, trade, and policies affecting world malting barley and malt sector are examined. A spatial equilibrium model of production and trade is used to assess the effects of alternative levels of supply, demand, and policy variables on composition and direction of malting barley and malt trade flows.

  8. World and Russian Market of Mergers and Acquisitions

    Directory of Open Access Journals (Sweden)

    Natalya S. Zagrebel’Naya

    2015-01-01

    Full Text Available This article analyzes the global and Russian markets of mergers and acquisitions (M&A. The article also presents the dynamics of M&A deals in the world and in Russia for the period 2010-2014, the geography of transactions and their sectoral structure. The overall analysis is supported by the examples of ten largest M&A deals in the world and in Russia, committed in 2014. In the market economy many companies, mostly large, consider M&A as means to improve the material and the production sector, increase profitability, sustainability, creating a positive image. Such transactions could improve a company's development, make business more competitive and profitable. In today's global economy we could observe the growing trend of global integration, which is manifested in the access of various types of companies into new markets, as well as the concentration of capital and consolidation of business, on the one hand. However, on the other hand, there is deterioration in the conditions of the companies due to the ongoing financial, economic and political crises and economic sanctions. This leads to changes in the activity on the world and Russian markets of M&A. Thus, to study its dynamics and trends in the contemporary world and in Russia is one of the most important and actual issues.

  9. Sistersville, West Virginia: 1893 oil capital of the world

    Energy Technology Data Exchange (ETDEWEB)

    Johns, P.J.; Woodfork, L.D.; Patchen, D.G.; Avary, K.L. [West Virginia Geological and Economic Survey, Morgantown, WV (United States)

    1996-09-01

    By the early 1890`s, production had peaked and was declining in the Pennsylvania oil fields. Drilling activity shifted south into West Virginia. The Sistersville oil field, discovered in 1891, became the {open_quotes}oil capital of the world{close_quotes} in 1893. For a brief period of time, Sistersville, West Virginia experienced its {open_quotes}moment of fame{close_quotes} with all of the attendant growth, excitement, glamour, prosperity, turmoil, rowdiness, disillusionment and eventual decline typical of {open_quotes}oil booms.{close_quotes} The geology of the Sistersville pool as well as aspects of the history and culture of the town during the boom are portrayed on the poster by maps, photographs and narrative. The history and heritage of that bygone era are also celebrated annually at the Sistersville Oil and Gas Festival and memorialized in The Oil and Gas Museum. Parkersburg, WV.

  10. Peaking of world oil production: Impacts, mitigation, & risk management

    Energy Technology Data Exchange (ETDEWEB)

    Hirsch, R.L. (SAIC); Bezdek, Roger (MISI); Wendling, Robert (MISI)

    2005-02-01

    The peaking of world oil production presents the U.S. and the world with an unprecedented risk management problem. As peaking is approached, liquid fuel prices and price volatility will increase dramatically, and, without timely mitigation, the economic, social, and political costs will be unprecedented. Viable mitigation options exist on both the supply and demand sides, but to have substantial impact, they must be initiated more than a decade in advance of peaking.... The purpose of this analysis was to identify the critical issues surrounding the occurrence and mitigation of world oil production peaking. We simplified many of the complexities in an effort to provide a transparent analysis. Nevertheless, our study is neither simple nor brief. We recognize that when oil prices escalate dramatically, there will be demand and economic impacts that will alter our simplified assumptions. Consideration of those feedbacks will be a daunting task but one that should be undertaken. Our aim in this study is to-- • Summarize the difficulties of oil production forecasting; • Identify the fundamentals that show why world oil production peaking is such a unique challenge; • Show why mitigation will take a decade or more of intense effort; • Examine the potential economic effects of oil peaking; • Describe what might be accomplished under three example mitigation scenarios. • Stimulate serious discussion of the problem, suggest more definitive studies, and engender interest in timely action to mitigate its impacts.

  11. Market assessment for the fan atomized oil burner

    Energy Technology Data Exchange (ETDEWEB)

    Westphalen, D. [A.D. Little, Inc., Cambridge, MA (United States)

    1996-07-01

    The market potential for the fan atomized burner (FAB) in water and space heating applications was examined. The major findings of the study are as follows. (1). The FAB`s low-input capability allows development of oil-fired room heaters and wall furnaces, a new market area for oil heat. (2). Among conventional oil-fired products, furnaces will benefit most from the burner`s low input capability due to (1) their quick delivery of heat and (2) their more prevalent use in warmer climates and smaller homes. (3). The greatest potential for increased product sales or oil sales exists in the use of the burner with new products (i.e., room heaters). Sales of boilers and direct-fired water heaters are not likely to increase with the use of the burner. (4). Acceptance of the burner will be dependent on proof of reliability. Proof of better reliability than conventional burners would accelerate acceptance.

  12. The Carbon Market, Oil, and the Macroeconomy

    OpenAIRE

    Rittler, Daniel

    2013-01-01

    This thesis consists of five essays in the field of applied financial econometrics. The first part of the thesis contains chapters 1 and 2 and is concerned with the high-frequency price and volatility analysis in the European Union Emissions Trading Scheme. The second part contains chapters 3, 4, and 5 and investigates the relationship between energy markets, stock markets, and the macroeconomy. The first chapter models the adjustment process of European Union Allowance prices to the rel...

  13. Measuring efficiency of international crude oil markets: A multifractality approach

    Science.gov (United States)

    Niere, H. M.

    2015-01-01

    The three major international crude oil markets are treated as complex systems and their multifractal properties are explored. The study covers daily prices of Brent crude, OPEC reference basket and West Texas Intermediate (WTI) crude from January 2, 2003 to January 2, 2014. A multifractal detrended fluctuation analysis (MFDFA) is employed to extract the generalized Hurst exponents in each of the time series. The generalized Hurst exponent is used to measure the degree of multifractality which in turn is used to quantify the efficiency of the three international crude oil markets. To identify whether the source of multifractality is long-range correlations or broad fat-tail distributions, shuffled data and surrogated data corresponding to each of the time series are generated. Shuffled data are obtained by randomizing the order of the price returns data. This will destroy any long-range correlation of the time series. Surrogated data is produced using the Fourier-Detrended Fluctuation Analysis (F-DFA). This is done by randomizing the phases of the price returns data in Fourier space. This will normalize the distribution of the time series. The study found that for the three crude oil markets, there is a strong dependence of the generalized Hurst exponents with respect to the order of fluctuations. This shows that the daily price time series of the markets under study have signs of multifractality. Using the degree of multifractality as a measure of efficiency, the results show that WTI is the most efficient while OPEC is the least efficient market. This implies that OPEC has the highest likelihood to be manipulated among the three markets. This reflects the fact that Brent and WTI is a very competitive market hence, it has a higher level of complexity compared against OPEC, which has a large monopoly power. Comparing with shuffled data and surrogated data, the findings suggest that for all the three crude oil markets, the multifractality is mainly due to long

  14. Oil, debt, banking and the world recession

    OpenAIRE

    Banks, Ferdinand E.

    1983-01-01

    The threat of a major debt crisis is presently hanging over the international financial community like Damocles' sword. Behind the crisis lies the flood of petrodollars into the financial institutions of the industrial world since the mid 1970s and the consequent large-scale lending to “doubtful customers”. A simple solution to the problem is not in sight.

  15. The PTRC : a world leader in enhanced heavy oil recovery

    Energy Technology Data Exchange (ETDEWEB)

    Kristoff, B.; Knudsen, R.; Asghari, K. [Petroleum Technology Research Centre, Regina, SK (Canada); Pappas, E.S. [Saskatchewan Research Council, Saskatoon, SK (Canada)

    2006-07-01

    The Petroleum Technology Research Centre (PTRC) fosters knowledge and progressive technologies to enhance the recovery of petroleum. This paper discussed the PTRC's leadership in enhanced heavy oil recovery, with particular reference to core research program such as heavy oil (post) cold flow; enhanced waterflooding; miscible/immiscible solvent injection; and near-wellbore conformance control. Other projects that were presented included a joint implementation of vapour extraction project (JIVE); and the IEA greenhouse gas (GHG) Weyburn-Midale carbon dioxide monitoring and storage project. The JIVE project will develop, demonstrate and evaluate solvent vapour extraction processes for enhanced oil recovery in heavy oil reservoirs. The GHG Weyburn-Midale project, launched in 2000, studies carbon dioxide injection and storage in partially depleted oil reservoirs. It was concluded that the PTRC continues to develop technologies to meet the world's energy requirements while mitigating both immediate and long-term environmental impacts. 4 figs.

  16. Proceedings of the world heavy oil congress 2011

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2011-07-01

    The World Heavy Oil Congress 2011 took place March 2011 in Edmonton, Alberta, Canada. This congress is an international gathering of heavy oil experts and professionals which takes place every 18 months to discuss issues and opportunities facing the heavy oil industry in terms of commercial, technical, regulatory and geo-political areas. Innovative solutions for improving performance, reducing costs and mitigating environmental impacts are presented. Hundreds of presentations were made, courses were delivered, and over 100 companies from 30 countries exhibited. The congress had support from various companies and government entities.This conference featured 133 papers, all of have been catalogued separately for inclusion in this database.

  17. Development in consumer food prices on the Czech market in the context of food prices on the EU and world markets

    Directory of Open Access Journals (Sweden)

    Luboš Smutka

    2013-01-01

    Full Text Available This paper discusses the development of consumer prices in the Czech Republic within the context of food prices in the European Union and the global market. The article is identifying the development of the foodstuff consumer prices in the market in the Czech Republic in relation to World and European consumer prices. Subsequently, the development of food consumer prices in the Czech market is analyzed in relation to selected commodities and products marketed in the Czech retail chains. Lastly, the status of individual retail chains in the Czech market is defined and the consumer prices and price differences existing amongst the selected major chains operating on the Czech market are analyzed. In relation to the objectives of this article it is then possible to state the following: prices on the Czech market correlate very strongly, especially in relation to the EU countries markets, but are very weak in relation to the world market. The sensitivity of the Czech consumer prices is very high – it is very flexible towards changes within the framework of the prices levels on the market of the EU but, by contrast, it is completely inflexible in respect to the changes in the prices levels on the world market. The Czech Republic follows the general development price trends existing in the EU countries markets.The growth in food prices on the Czech market is very close to the average growth rate of the food prices index in the EU market. Regarding the prices development on the Czech Republic market, it can be noted that, in relation to particular segments of the commodity food prices, the most dynamic growth was recorded in the case of fruit and vegetables, oils and fats, dairy products, fish and seafood, poultry, beef and cereals and bakery products.It is also important to mention that in the Czech Republic there are no uniform price levels between individual regions. In respect to the nature of the Czech retail market, a comment should be made that

  18. Study of future world markets for agricultural aircraft

    Science.gov (United States)

    Gobetz, F. W.; Assarabowski, R. J.

    1979-01-01

    The future world market for US-manufactured agricultural aircraft was studied and the technology needs for foreign markets were identified. Special emphasis was placed on the developing country market, but the developed countries and the communist group were also included in the forecasts. Aircraft needs were projected to the year 2000 by a method which accounted for field size, crop production, treated area, productivity, and attrition of the fleet. A special scenario involving a significant shift toward aerial fertilization was also considered. An operations analysis was conducted to compare the relative application costs of various existing and hypothetical future aircraft. A case study was made of Colombia as an example of a developing country in which aviation is emerging as an important industry.

  19. Chemical qualities of oils from some fresh and market vegetable ...

    African Journals Online (AJOL)

    JTEkanem

    Chemical qualities of oils from some fresh and market vegetable crops within Kwara. State of Nigeria. Israel Sunmola AFOLABI. Covenant University, College of Science and Technology, Department of Biological Sciences,. Canaan land, Km 10, Idiroko road, ... An international journal published by the. Nigerian Society for ...

  20. Generating Moving Average Trading Rules on the Oil Futures Market with Genetic Algorithms

    National Research Council Canada - National Science Library

    Wang, Lijun; An, Haizhong; Xia, Xiaohua; Liu, Xiaojia; Sun, Xiaoqi; Huang, Xuan

    2014-01-01

      The crude oil futures market plays a critical role in energy finance. To gain greater investment return, scholars and traders use technical indicators when selecting trading strategies in oil futures market...

  1. The oil and gas market in Bolivia

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2000-06-01

    Bolivia is becoming an important link in the South American energy trade given its large potential for oil and natural gas and the commissioning of the Bolivia-Brazil pipeline. Yacimientos Petroliferos Fiscales Bolivianos (YPFB) is the national oil and gas company in Bolivia. It has undergone a capitalization program and its exploration and production division was divided into two and sold to the private sector under the new names of Empresa Petrolera Andina SAM and Empresa Petrolera Chaco SAM. Shares from this division also went to the Bolivian people as part of a pension fund plan. Half of the transport and distribution division was also purchased in a joint venture. Major gas discoveries in August 1999 has prompted Bolivia to export large quantities of natural gas, primarily to Brazil's southern region, where demand has been exploding and a growing supply of Bolivian gas is much needed. This increased demand for natural gas has forced both Brazil and Bolivia to explore for other sources of gas and to conduct feasibility studies regarding the construction of gas pipelines. The recently constructed Santa Cruz-Rio Grande pipeline will not be sufficient to meet the growing demand. All the oil and gas sector investment from the private sector goes to the Bolivian government. Under Bolivian law, foreign companies are obliged to retain local representation for investment contracts, direct sales, and all government agency purchases.refs.

  2. Swedish market entry strategy utilizing Internet marketing: the utilization of Internet marketing in a cost effective and efficient way to market a virtual world

    OpenAIRE

    Möller, Per

    2010-01-01

    The purpose of this thesis is to review published literature both printed and electronic on the subject of Internet marketing. This will aid to provide guidance on how a newly started virtual world company would be able to conduct as cost effective and efficient Internet marketing as possible with focus on entering the Swedish market. The theory part of the thesis will review the most relevant technologies and marketing concepts for the commissioner of this work. The empirical part of the the...

  3. AN INVESTIGATION OF SOME HEDGING STRATEGIES FOR CRUDE OIL MARKET

    Directory of Open Access Journals (Sweden)

    Andre Assis de Salles

    2013-01-01

    Full Text Available This paper examines the performance of bivariate volatility models for the crude oil spot and future returns of the WTI type barrel prices. Besides the volatility of spot and future crude oil barrel returns time series, the hedge ratio strategy is examined through the hedge effectiveness. Thus this study shows hedge strategies built using methodologies applied in the variance modelling of returns of crude oil prices in the spot and future markets, and covariance between these two market returns, which correspond to the inputs of the hedge strategy shown in this work. From the studied models the bivariate GARCH in a Diagonal VECH and BEKK representations was chosen, using three different models for the mean: a bivariate autoregressive, a vector autoregressive and a vector error correction. The methodologies used here take into consideration the denial of assumptions of homoscedasticity and normality for the return distributions making them more realistic.

  4. World market: A survey of opportunities for advanced coal-fired systems

    Energy Technology Data Exchange (ETDEWEB)

    Holt, N.A.H.

    1995-06-01

    Although there is a wide range of forecasts for the future of World energy demand and consumption over the next 25 years, all forecasts show marked increases being required for all forms of fossil fuels even when optimistic projections are made for the future adoption of Nuclear and Renewable energy. It is also generally expected that coal usage will in this period experience its greatest growth (a doubling) in the Asia-Pacific region dominated demographically by China and India. In this paper, energy projections and the extent and nature of the coal reserves available worldwide are examined. While most coal technologies can handle a variety of feedstocks, there are often economic factors that will determine the preferred selection. The matching of technology to coal type and other factors is examined with particular reference to the Asia Pacific region. Oil usage is similarly forecast to experience a comparable growth in this region. Over 70% of the World`s oil reserves are heavy oils and refinery crudes are increasing in gravity and sulfur content. The clean coal technologies of gasification and fluid bed combustion can also use low value petroleum residuals as feedstocks. There is therefore a nearer term market opportunity to incorporate such technologies into cogeneration and coproduction schemes adjacent to refineries resulting in extremely efficient use of these resources.

  5. World market integration of Vietnamese rice markets during the 2008 food price crisis

    NARCIS (Netherlands)

    Luckmann, J.; Ihle, R.; Kleinwechter, U.; Grethe, H.

    2015-01-01

    World market prices of rice have been subject to large fluctuations in recent years. In mid 2008, prices reached levels never seen before. Vietnam is a major exporter of rice and rice is also the main staple food of the country. Given the importance of rice for domestic food security, the Vietnamese

  6. Green care governance: between market, policy and intersecting social worlds.

    Science.gov (United States)

    Vik, Jostein; Farstad, Maja

    2009-01-01

    Green care--the utilisation of farms as the basis for health services--is seen as a promising addition to other health services, and it is seen as a viable diversification strategy for many farm families. However, the number of such services is low both in Norway and in Europe in general. The development of green care seems to have stagnated. This paper seeks to analyze and discuss the case of Norwegian green care in order to reflect on the hindrances to the further development of a viable green care sector. The paper analyzes the green care market, green care policies and the interaction of social worlds that are necessary to make the green care sector function smoothly. The conclusion is that there is a sound basis for a green care market and that there are sufficient political support and political engagement for the development of green care in Norway. The problem with the green care sector is the interaction between the "social worlds" involved in the sector--the suppliers/farmers, the users, and the (public sector) buyers. It is argued that the development of a green care market is hampered by the lack of an institutional framework and a set of market devices capable of bringing key actors together. The paper presents an analysis of the Norwegian green care sector. It shows that there are substantial cross-national differences between health service systems, and therefore comparisons between nations are difficult. However, the principal challenges--diverse social groups, the lack of institutional frames, and immature markets--are shared. Therefore, the need for further research is evident and there are lessons to be learned from cross-national comparison and case studies. Within the green care research field, there have been few social science studies that address organisational issues and the governance of this new and emerging business. Theoretically oriented and analytical contributions on organisational aspects of green care services are therefore timely

  7. Relationship between Major Developed Equity Markets and Major Frontier Equity Markets of World

    Directory of Open Access Journals (Sweden)

    Muhammad Mansoor Baig

    2016-02-01

    Full Text Available The core aim of this study is to compute the long run relationship between frontier equity markets Pakistan (KSE 100 Index, Argentina (MERVAL BUENOS AIRES stock Exchange, NSE.20 (Kenya, MSM 30 (MSI Oman and equity markets of developed world (OMXS30 Sweden, SMI (Switzerland, SSE Composite Index (China and STI index (Singapore by taking weekly values from stock return prices for the period 1st week of January-2000 to last week of January/2014. Descriptive statistic, Correlation, Augmented dickey fuller (ADF, Phillips Perron test, Johanson and Jelseluis test of co-integration, Granger causality test, Variance Decomposition Test and Impulse Response are used to find the relationship among frontier and developed markets. The results of this study reveal that frontier markets have no long run relationship with equity markets of developed world. Furthermore, this study is helpful for investors to enhance the returns by diversifying the unsystematic risk at given level of profit because results of this study confirm that markets are no cointegrated.

  8. Network marketing on a small-world network

    Science.gov (United States)

    Kim, Beom Jun; Jun, Tackseung; Kim, Jeong-Yoo; Choi, M. Y.

    2006-02-01

    We investigate a dynamic model of network marketing in a small-world network structure artificially constructed similarly to the Watts-Strogatz network model. Different from the traditional marketing, consumers can also play the role of the manufacturer's selling agents in network marketing, which is stimulated by the referral fee the manufacturer offers. As the wiring probability α is increased from zero to unity, the network changes from the one-dimensional regular directed network to the star network where all but one player are connected to one consumer. The price p of the product and the referral fee r are used as free parameters to maximize the profit of the manufacturer. It is observed that at α=0 the maximized profit is constant independent of the network size N while at α≠0, it increases linearly with N. This is in parallel to the small-world transition. It is also revealed that while the optimal value of p stays at an almost constant level in a broad range of α, that of r is sensitive to a change in the network structure. The consumer surplus is also studied and discussed.

  9. Merger and Acquisition Market: from World Experience to National Practice

    Directory of Open Access Journals (Sweden)

    Hrechana Svitlana I.

    2014-03-01

    Full Text Available The goal of the article lies in identification of tendencies and prospects of development of the merger and acquisition market of Ukraine in the context of influence of the world M and A experience upon this process under conditions of globalisation. In the result of the study the article analyses the most significant merger and acquisition operations that took place in the world practice and in Ukraine in recent years. The article reveals and deeply assesses the variety of motives and mechanisms of their realisation from the position of practice of developed countries and trans-national corporations and also domestic associations of enterprises. It shows that transactions of tough or forced character of acquisition prevail in Ukraine, specific features of which are not only the reduced cost but also direct belonging of buyers to oligarchic-political structures. It explains negative influence of these specific features upon volume and activity of the national M and A market. It formulates and offers a system of state and economic subjects measures, immediate application of which would allow creation of favourable conditions for development of the national merger and acquisition market.

  10. The world market in coal— Requirements for the year 2000

    OpenAIRE

    Petersen, Dietmar

    1982-01-01

    Shrinking reserves of oil and natural gas at a time of increasing global energy requirements can mean a new future for coal, large reserves of which exist, half of them In the Western sphere of influence. The “renaissance of coal”, however, is not a natural law which operates on its own. The sooner the necessary decisions are taken on a world-wide basis, the more effectively will coal be able to play its new role in the international energy industry and the less will be the frictional losses ...

  11. Preference for olive oil consumption in the Spanish local market

    Directory of Open Access Journals (Sweden)

    Rodolfo Bernabéu

    2016-12-01

    Full Text Available It is becoming ever more important for the olive oil industry in Spain to adopt a business strategy based on client orientation. In this sense, the objective of this paper is to identify the preferences of olive oil consumers and propose a series of business strategies for the producing sector. The methodology consisted in a survey of 404 olive oil consumers during the months of January and February 2013, whose preferences were determined through several multivariate techniques (conjoint analysis, consumer segmentation and a simulation of market share. The preferred olive oil is low priced, extra virgin and organic. The type of bottle does not appear to be relevant in the buying decision process, although it might be a factor in increasing market share. The current economic crisis has resulted in the emergence of two consumer segments; 67.1% of consumers selected the olive oil they buy on the basis of price and 32.9% were guided by the product’s specific attributes, which include, for example, organic production, which can be another differentiating element for producing companies.

  12. Preference for olive oil consumption in the Spanish local market

    Energy Technology Data Exchange (ETDEWEB)

    Bernabéu, R.; Díaz, M.

    2016-07-01

    It is becoming ever more important for the olive oil industry in Spain to adopt a business strategy based on client orientation. In this sense, the objective of this paper is to identify the preferences of olive oil consumers and propose a series of business strategies for the producing sector. The methodology consisted in a survey of 404 olive oil consumers during the months of January and February 2013, whose preferences were determined through several multivariate techniques (conjoint analysis, consumer segmentation and a simulation of market share). The preferred olive oil is low priced, extra virgin and organic. The type of bottle does not appear to be relevant in the buying decision process, although it might be a factor in increasing market share. The current economic crisis has resulted in the emergence of two consumer segments; 67.1% of consumers selected the olive oil they buy on the basis of price and 32.9% were guided by the product’s specific attributes, which include, for example, organic production, which can be another differentiating element for producing companies.

  13. The Role of Fusion in the Future World Energy Market

    Science.gov (United States)

    Sheffield, John

    1996-05-01

    The energy world, in which fusion energy must compete, has changed in recent years with the prospect of a 40-year supply of low-cost oil and gas. This cheap fuel represents a one-time opportunity for developing countries to raise their standards of living, and if historical trends continue, lower their rate of population growth. This brief opportunity for cheap fossil-fuel and the similar 40-year period to commercialize fusion are transients when viewed against the time scale of civilization. We need to develop and deploy the long-term energy sources, such as fusion (fission and 'renewables'), and in all cases improve energy efficiency before the fossil fuels rise in cost and a large fraction of a burgeoning world population is condemned to permanent poverty.

  14. Research and services provision on the world research market

    Directory of Open Access Journals (Sweden)

    Witold Wiśniowski

    2013-03-01

    Full Text Available It is necessary to create new knowledge for the development of the economy. The source of new knowledge are research: basic, applied and industrial, which complement each other to form one whole. Each of these research has other sources of financing and other purposes. Due to the large influx of foreign technology to Poland industrial research is not growing as we would expect. To balance this deficiency the Research Institutes may provide services on the world market. It would be advisable to seek the provision of services on the global research market so that it could became a Polish smart specialization. This specialization would include the sale of intellect, which should never run out of customers.

  15. Dynamic linkages among the gold market, US dollar and crude oil market

    Science.gov (United States)

    Mo, Bin; Nie, He; Jiang, Yonghong

    2018-02-01

    This paper aims to examine the dynamic linkages among the gold market, US dollar and crude oil market. The analysis also delves more deeply into the effect of the global financial crisis on the short-term relationship. We use fractional cointegration to analyze the long-term memory feature of these volatility processes to investigate whether they are tied through a common long-term equilibrium. The DCC-MGARCH model is employed to investigate the time-varying long-term linkages among these markets. The Krystou-Labys non-linear asymmetric Granger causality method is used to examine the effect of the financial crisis. We find that (i) there is clearly a long-term dependence among these markets; (ii) the dynamic gold-oil relationship is always positive and the oil-dollar relationship is always negative; and (iii) after the crisis, we can observe evidence of a positive non-linear causal relationship from gold to US dollar and US dollar to crude oil, and a negative non-linear causal relationship from US dollar to gold. Investors who want to construct their optimal portfolios and policymakers who aim to make effective macroeconomic policies should take these findings into account.

  16. Oil Market Forecast and the Analysis of Economic Impact of Oil Price Fluctuations

    Energy Technology Data Exchange (ETDEWEB)

    Lee, M.B. [Korea Energy Economics Institute, Euiwang (Korea)

    2001-12-01

    In the past two years, we noticed that oil prices have fluctuated with a wide range of $10 per barrel in the international oil markets. Since her annual oil import exceeded 10% of the national gross import, Korea became much concerned with economic impacts of changes in crude oil prices along with the short-term outlook of international crude oil market. In this context, this study is conducted to build a macro-economic model as well as an input-output analysis to deal with such changes in oil prices. The major findings are as follows: In the short-term, oil import price in 2001 is expected to stay at the level of $23.50 per barrel and the price will drop to the level of $20{approx}$22, approximately 10% drop from the previous year. The short-term impacts of these oil prices include: 3.0% increase in GDP; 9.7% decrease in export; 2.8% increase in petroleum product prices; 2.8% increase in demand for petroleum products; 6.1% increase in producer price index (PPI) in 2001. The impacts of 10% drop in oil prices under a scenario of the constant foreign exchange rate against US dollar include: 5.2% increase in GDP; 3.7% increase in import, 1.1% increase in petroleum product prices, 8.1% increase in demand for petroleum; and 3.7% increase in PPI. An input-output analysis reveals that the decrease in petroleum production cost induced by 10% drop in oil import prices amounted to approximately 5{approx}6%. Other sectors which show a big drop in production cost are basic petro-chemical industry, heat suppliers, electricity sector, and city gas suppliers. Among the petroleum products, naphtha shows the biggest drop of 8% in production cost, followed by fuel oils (7%), kerosene and diesel (6%), LPG (6%), and gasoline (3%). (author). 20 refs., 7 figs., 12 tabs.

  17. Models of price development on world market for cocoa beans

    Directory of Open Access Journals (Sweden)

    Pavel Syrovátka

    2008-01-01

    Full Text Available This paper is focused on the modelling and simulating the development of the price of cocoa beans on the world market. The developed models were based on the dependence of the level of the world price of cocoa beans on the world stock to grindings ratio of the beans in the last crop year. The ICCO databases from 1960/1961 to 2005/2006 crop years were used for the estimation of the parameters in the investigated forms of the price model. The linear and logarithmic-linear categories of the price models were studied in this paper. Within the linear forms of the price models; the single linear construction and the linear construction with dummy time variable were specified and tested. Within the logarithmic-linear category of the price models; the error correction model and autoregressive model were examined. From the point of view of statistical verification and from the low value of deviation of the simulated world price of cocoa beans for the 2005/2006 period from the actual price level of price for this crop period, the logarithmic-linear form of model with the error correction achieved the best results. Acceptable results were also obtained by means of the modified price model with the error correction component. By using the logarithmic-linear form of error correction model, the world price of the cocoa beans for the crop period 2006/2007 will achieve the following value 1047 SDR · t−1.Under the modified error correction model, the level of the world price will be 1050 SDR · t−1.

  18. The Conflict in Syria: Key Issues and Consequences on the International Market of Crude Oil

    Directory of Open Access Journals (Sweden)

    Mariana Papatulică

    2013-07-01

    Full Text Available At the end of August 2013, the international prices of Brent crude rose to a 17-month high ($ 117.8 /barrel as Western powers, mainly USA, readied a military strike against Syria, and traders and analysts cited concerns over stability in the Middle East. The main concern was the risk that Western intervention in Syria could prompt a wider regional conflict, given the support that Iran has provided to the regime of Syria. The attack failed to materialize, because U.S. and Russia reached an agreement with the goal of disarming Syria’s chemical weapon arsenal, and consequently the prices declined, but the risk of geopolitical and social unrest movementsAlpha is still high, so that a reactivation of geopolitical tensions in the extended area of Middle East and north Africa is anytime possible with the afferent disruptive effects on the international oil market. We tried to answer to some questions in order to clear up the background of the problem: 1 What was the real stake of the U.S. plan to intervene in Syria: the concern generated by chemical weapons or U.S. geostrategic interests in the wider Middle East? 2 Why Syria matters to oil market, given that it is not a major oil producer (as was Libya, nor is it a major transit point for oil and gas exports (as is Egypt? 3 The aftermath of a serious military action targeted against the Middle Eastern country and “qui prodest”? 4 Will Iran’s possible return to the world oil market send oil prices down, and how much?

  19. Marketing breast milk substitutes: problems and perils throughout the world

    Science.gov (United States)

    Brady, June Pauline

    2012-01-01

    On 21 May 1981 the WHO International Code of Marketing Breast Milk Substitutes (hereafter referred to as the Code) was passed by 118 votes to 1, the US casting the sole negative vote. The Code arose out of concern that the dramatic increase in mortality, malnutrition and diarrhoea in very young infants in the developing world was associated with aggressive marketing of formula. The Code prohibited any advertising of baby formula, bottles or teats and gifts to mothers or ‘bribery’ of health workers. Despite successes, it has been weakened over the years by the seemingly inexhaustible resources of the global pharmaceutical industry. This article reviews the long and tortuous history of the Code through the Convention on the Rights of the Child, the HIV pandemic and the rare instances when substitute feeding is clearly essential. Currently, suboptimal breastfeeding is associated with over a million deaths each year and 10% of the global disease burden in children. All health workers need to recognise inappropriate advertising of formula, to report violations of the Code and to support efforts to promote breastfeeding: the most effective way of preventing child mortality throughout the world. PMID:22419779

  20. The Effect of Biodiesel Policies on World Oilseed Markets and Developing Countries

    OpenAIRE

    Drabik, Dusan; de Gorter, Harry; Timilsina, Govinda R.

    2013-01-01

    Using an empirical model, this study provides some insights into the functioning of the oilseed-biodiesel-diesel market complex in a large country that determines the biodiesel price, reflecting market equilibrium changes resulting from volatility in the crude oil price. Oilseed crushing produces joint products -- oil and meal -- and this weakens the link between the biodiesel and oilseed...

  1. Marketing communication of World championship in acrobatic rock and roll 2013

    OpenAIRE

    Zbořilová, Veronika

    2012-01-01

    Title: Marketing communication of World championship in acrobatic rock and roll 2013 Goal: Evaluation of marketing communication of World championship in Acrobatic Rock and Roll 2009 and proposing marketing communication of 2013 Methods: In this work were used analysis of texts and documents, qualitative interview, observation and SWOT analysis. Results: New integrated proposal of marketing communication with two appearance variations of advertising leaflets. Key words: Marketing, communicati...

  2. Competition between the various fossil sources of energy on the European and world markets through the year 2000

    Energy Technology Data Exchange (ETDEWEB)

    Brunner, G.

    1980-06-01

    Crude oil will continue to dominate the world energy market and play the price-setting role through the year 2000, but its share of the total energy consumption in the non-Communist world should decline to approx. 50%. World crude oil production should stabilize at approx. 65 million bbl/day in the 1990's, of which approx. 30 million bbl/day would be produced by non-OPEC countries. The price of natural gas should remain to be linked to that of fuel oil, as long as the latter is in abundant supply. With the production costs of $45-$100/ton petroleum equivalent (tpe), most of West European coal is not competitive with the imported coal or with fuel oil and is expected to remain so through 2000. Outside Europe, particularly in the U.S., coal is entirely competitive and increasingly will be shipped to Europe and also converted to high-Btu gas. Nuclear energy and coal should progressively replace fuel oil and will compete in electricity production. Petroleum production from heavy crudes, oil shales, and tar sands is not expected to exceed 150 million tpe in 2000 because of the high costs of production, i.e., about $35,000/bbl/day by that time, and environmental problems.

  3. Cross-correlations between crude oil and exchange markets for selected oil rich economies

    Science.gov (United States)

    Li, Jianfeng; Lu, Xinsheng; Zhou, Ying

    2016-07-01

    Using multifractal detrended cross-correlation analysis (MF-DCCA), this paper studies the cross-correlation behavior between crude oil market and five selected exchange rate markets. The dataset covers the period of January 1,1996-December 31,2014, and contains 4,633 observations for each of the series, including daily closing prices of crude oil, Australian Dollars, Canadian Dollars, Mexican Pesos, Russian Rubles, and South African Rand. Our empirical results obtained from cross-correlation statistic and cross-correlation coefficient have confirmed the existence of cross-correlations, and the MF-DCCA results have demonstrated a strong multifractality between cross-correlated crude oil market and exchange rate markets in both short term and long term. Using rolling window analysis, we have also found the persistent cross-correlations between the exchange rates and crude oil returns, and the cross-correlation scaling exponents exhibit volatility during some time periods due to its sensitivity to sudden events.

  4. Are the Scaling Properties of Bull and Bear Markets Identical? Evidence from Oil and Gold Markets

    Directory of Open Access Journals (Sweden)

    Samet Günay

    2014-10-01

    Full Text Available In this study, the scaling properties of the oil and gold return volatilities have been analyzed in the context of bull and bear periods. In the determination of bull and bear turning points, we used the Modified Bry-Boschan Quarterly (MBBQ algorithm. Results showed that the business cycle phase shapes of the bear periods in the oil market are almost linear, whereas the bull and bear periods of the gold and bull period of the oil market are convex. This means that there are sharper declines in the bear period of the oil market. Following the detection of bull and bear periods, scaling exponent H analysis was performed via the aggregated variance, Higuchi’s statistic, Peng’s statistic, rescaled range, boxed periodogram and wavelet fit models, which are from the time, frequency and wavelet domains. As there are conflicts about the credibility of these methods in the literature, we have used the shuffling procedure in order to determine the most robust methods. According to the results, bear periods have higher volatility persistency than bull periods.

  5. La rivoluzione dello shale oil e i mercati finanziari (The Shale Oil Revolution and Financial Markets

    Directory of Open Access Journals (Sweden)

    Alessandro Roncaglia

    2017-07-01

    Full Text Available Shale oil exhibits structural characteristics that set it apart from ‘traditional’ oil, such as the shorter time required to build new plants, the shorter duration of the investment, and a lower ratio of fixed to variable costs. These differences imply a lower degree of oligopolistic control of the market, which in the medium term could lead to further downward pressure on prices. However, the high degree of financialization of these markets makes it a necessary condition, for such a regime change to materialize, that financial market operators internalize new behavioural and procedural conventions, adapted to the changed technological scenario. JEL codes: L13, L71, Q41

  6. Investor herds and oil prices evidence in the Gulf Cooperation Council (GCC equity markets

    Directory of Open Access Journals (Sweden)

    Talat Ulussever

    2017-09-01

    Full Text Available This paper scrutinizes the effect of crude oil prices on herd behavior among investors in the Gulf Cooperation Council (GCC stock markets. Using firm level data from Saudi Arabia, Qatar, Oman, Kuwait, Bahrain, Dubai and Abu Dhabi stock exchanges, we examine equity return dispersions within industry portfolios and test whether investor herds exist in these markets. We then assess whether crude oil price movements have any effect on the investment behavior of traders in the aforementioned markets. Our findings reveal significant evidence supporting herd behavior in all GCC equity markets with the exception of Oman and Qatar, more consistently during periods of market losses. Furthermore, we find significant oil price effects on herd behavior in these markets, particularly during periods of extreme positive changes in the price of oil. Our findings suggest that investors’ tendency to act as a herd in the said markets is significantly affected by the developments in the oil market.

  7. Olive oil: an overview of the Japanese market

    Directory of Open Access Journals (Sweden)

    Capogna Daniela

    2016-11-01

    Full Text Available The article presents an overview of olive oil consumption in Japan, Asia’s largest per capita consumer and at present 14th in the world. Since the early 1990s, total purchases have increased from 4943 t in the 1992/93 campaign to 61 903 t in 2014/15, a more than 12-fold increase over the space of 22 years. Olive oil, in particular extra virgin olive oil, is appreciated by Japanese people primarily for its beneficial effects on health, as well as for its agreeable taste and for its cultural and historical associations. Other key factors to be considered are economic and cultural. Japan is one of the world’s largest economies; disposable incomes are high and these are reflected in household consumption behavior. Culturally, the country is increasingly open to the outside world, discovering and adopting practices from elsewhere, notably the West. This openness, allied to the country’s relative affluence, is demonstrated in the consumption of olive oil, a pillar of the Mediterranean Diet.

  8. Dynamics of heating oil market prices in Europe

    Energy Technology Data Exchange (ETDEWEB)

    Indjehagopian, J.P. [Department of Statistics, ESSEC-Graduate School of Management, Cergy-Pontoise (France); Lantz, F.; Simon, V. [Centre Economic and Gestion, Ecole du Petrole et des Moteurs, Institut Francais du Petrole, Rueil-Malmaison (France)

    2000-04-01

    This paper concerns the German and French heating oil market and attempts to establish long- and short-term relationships between German and French monthly heating oil prices in dollars, the Rotterdam spot price for the same product and the DM/US$ and FF/US$ exchange rates during the period from January 1987 to December 1997. To model the market over the period under consideration, incorporating the Gulf War, we have used conventional unit root tests and sequential tests allowing structural changes. Long-term relationships, with shifts in regime detected by cointegration tests taking structural breaks into consideration, are estimated. The short-term dynamics defined by a vector error correction (VEC) mechanism is derived in a classic manner when in presence of a cointegrated VAR system. The econometric results obtained are commented on from an economic point of view. Weak exogeneity tests are performed and the conditional VEC model is deduced, enabling measurement of the instantaneous impact of variations in weakly exogenous exchange rates on variations in heating oil prices in Germany and France. Lastly, a study is made of the asymmetric reaction of domestic prices to positive and negative variations in exchange rates and the Rotterdam spot quotation. 25 refs.

  9. Pollination networks of oil-flowers: a tiny world within the smallest of all worlds.

    Science.gov (United States)

    Bezerra, Elisângela L S; Machado, Isabel C; Mello, Marco A R

    2009-09-01

    1. In the Neotropics, most plants depend on animals for pollination. Solitary bees are the most important vectors, and among them members of the tribe Centridini depend on oil from flowers (mainly Malpighiaceae) to feed their larvae. This specialized relationship within 'the smallest of all worlds' (a whole pollination network) could result in a 'tiny world' different from the whole system. This 'tiny world' would have higher nestedness, shorter path lengths, lower modularity and higher resilience if compared with the whole pollination network. 2. In the present study, we contrasted a network of oil-flowers and their visitors from a Brazilian steppe ('caatinga') to whole pollination networks from all over the world. 3. A network approach was used to measure network structure and, finally, to test fragility. The oil-flower network studied was more nested (NODF = 0.84, N = 0.96) than all of the whole pollination networks studied. Average path lengths in the two-mode network were shorter (one node, both for bee and plant one-mode network projections) and modularity was lower (M = 0.22 and four modules) than in all of the whole pollination networks. Extinctions had no or small effects on the network structure, with an average change in nestedness smaller than 2% in most of the cases studied; and only two species caused coextinctions. The higher the degree of the removed species, the stronger the effect and the higher the probability of a decrease in nestedness. 4. We conclude that the oil-flower subweb is more cohesive and resilient than whole pollination networks. Therefore, the Malpighiaceae have a robust pollination service in the Neotropics. Our findings reinforce the hypothesis that each ecological service is in fact a mosaic of different subservices with a hierarchical structure ('webs within webs').

  10. 7 CFR 1427.25 - Determination of the prevailing world market price and the adjusted world price for upland cotton.

    Science.gov (United States)

    2010-01-01

    ... and the adjusted world price for upland cotton. 1427.25 Section 1427.25 Agriculture Regulations of the..., PURCHASES, AND OTHER OPERATIONS COTTON Nonrecourse Cotton Loan and Loan Deficiency Payments § 1427.25 Determination of the prevailing world market price and the adjusted world price for upland cotton. (a) CCC will...

  11. 76 FR 4204 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Revision of...

    Science.gov (United States)

    2011-01-25

    ... Olson, Regional Manager, Northwest Marketing Field Office, Marketing Order Administration Branch, Fruit... Agricultural Marketing Service 7 CFR Part 985 Marketing Order Regulating the Handling of Spearmint Oil Produced...) Spearmint Oil for the 2010-2011 Marketing Year AGENCY: Agricultural Marketing Service, USDA. ACTION: Interim...

  12. 76 FR 33969 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Revision of...

    Science.gov (United States)

    2011-06-10

    ... Specialist or Gary Olson, Regional Manager, Northwest Marketing Field Office, Marketing Order Administration... Agricultural Marketing Service 7 CFR Part 985 Marketing Order Regulating the Handling of Spearmint Oil Produced...) Spearmint Oil for the 2010-2011 Marketing Year AGENCY: Agricultural Marketing Service, USDA. ACTION...

  13. Proceedings of the workshop on world oil supply-demand analysis

    Energy Technology Data Exchange (ETDEWEB)

    Hoffman, K.C. (ed.)

    1977-01-01

    Twelve papers and four panel discussions are included. A separate abstract was prepared for each paper. The panel discussions were on: technical and physical policy elements affecting world oil supply and demand; financial, tax, and tariff issues in world oil supply and demand; the world economy as influenced by world oil prices and availability; the use of models and analysis in the policy process. (DLC)

  14. Electronic trading system and returns volatility in the oil futures market

    Energy Technology Data Exchange (ETDEWEB)

    Liao, Huei-Chu [Department of Economics, Tamkang University (China); Lee, Yi-Huey [Department of Industrial Economics, Tamkang University (China); Suen, Yu-Bo [Department of Finance and Banking, Aletheia University (China)

    2008-09-15

    This paper uses daily Brent crude prices to investigate the employment of electronic trading on the returns conditional volatility in the oil futures market. After a suitable GARCH model is established, the conditional volatility series are found. The Bai and Perron model is then used to find two significant structural breaks for these conditional volatility series around two implementation dates of electronic trading. This result indicates that the change in the trading system has significant impacts on the returns volatility since our estimated second break date is very close to the all-electronic trade implementation date. Moreover, the conditional volatility in the all-electronic trading period is found to be more dominated by the temporal persistence rather than the volatility clustering effect. All these evidence can shed some light for explaining the high relationship between more volatile world oil price and the more popular electronic trade. (author)

  15. World markets and dependence Mercado mundial y dependencia

    Directory of Open Access Journals (Sweden)

    Betz Karl

    1994-06-01

    Full Text Available This work is one of monetary Keynesianism, known as the Berlin School. The school proposes a monetary theory of production which links the real sector to the monetary sector and on this bases offers an explanation of underdevelopment and dependence. Capitalist relationships are seen as the quest for monetary surpluses over money investments; and money not only rules the decisions of economic agents but also govern contractual relations. Each currency is a system of relationships, a "monetary space". Therefore, the theory of international re1ations should include a market which
    does not exist in models of closed economies the currency market and the specific function of money in this context, i.e. the "external function". World markets have establish a hierarchy of currencies, some strong, others weak. The former enable their national interests to be imposed to the countries with weak currencies and these are relegated to a situation of indebtedness to the strong currencies, dependence and underdevelopment from which very few can
    escape.
    Este trabajo se inscribe en el keynesianismo monetario, conocido como "escuela de Berlín". Está escuela propone una teoría monetaria de la producción que vincula la esfera real con la monetaria y con base en ella explica el subdesarrollo y la independencia. Las relaciones capitalistas se caractesizan por la búsqueda de un excedente monetario sobre la inversión en dinero; el dinero no sólo determina los cálculos de los agentes económicos sino que también expresa las relaciones contractuales. Cada moneda expresa un sistema de relaciones, un espacio monetario. Por tanto, la teoría de las relaciones internacionales debe incluir un mercado que no existe en los mercados de economía cerrada, el mercado de divisas, así como la función específica del dinero en este contexto, es decir, la llamada "función externa". El mercado mundial establece una jerarquía monetaria que da lugar a las

  16. Technological trends and market perspectives for production of microbial oils rich in omega-3.

    Science.gov (United States)

    Finco, Ana Maria de Oliveira; Mamani, Luis Daniel Goyzueta; Carvalho, Júlio Cesar de; de Melo Pereira, Gilberto Vinícius; Thomaz-Soccol, Vanete; Soccol, Carlos Ricardo

    2017-08-01

    In recent years, foods that contain omega-3 lipids have emerged as important promoters of human health. These lipids are essential for the functional development of the brain and retina, and reduction of the risk of cardiovascular and Alzheimer's diseases. The global market for omega-3 production, particularly docosahexaenoic acid (DHA), saw a large expansion in the last decade due to the increasing use of this lipid as an important component of infant food formulae and supplements. The production of omega-3 lipids from fish and vegetable oil sources has some drawbacks, such as complex purification procedures, unwanted contamination by marine pollutants, reduction or even extinction of several species of fish, and aspects related to sustainability. A promising alternative system for the production of omega-3 lipids is from microbial metabolism of yeast, fungi, or microalgae. The aim of this review is to discuss the various omega-3 sources in the context of the global demand and market potential for these bioactive compounds. To summarize, it is clear that fish and vegetable oil sources will not be sufficient to meet the future needs of the world population. The biotechnological production of single-cell oil comes as a sustainable alternative capable of supplementing the global demand for omega-3, causing less environmental impact.

  17. World oil production. [Demand to overshadow supplies before year 2000

    Energy Technology Data Exchange (ETDEWEB)

    Flower, A.R.

    1978-03-01

    The supply of oil will fail to meet increasing demand before the year 2000. As oil production inevitably levels off and then falls, alternative fuels will have to meet the demand for energy, which will continue to grow in the face of even vigorous attempts at conservation. The oil-importing countries have perhaps as few as five years or perhaps as many as 20 in which to accomplish a transition from dependence on oil to greater reliance on other fossil fuels, on nuclear energy and eventually on renewable energy sources. Because large investments and long lead times are required for developing new energy resources the effort must begin immediately. These are among the major conclusions of a two-year international study, the Workshop on Alternative Energy Strategies. The workshop participants came from the U.S., Canada, Mexico, Venezuela, the United Kingdom, France, West Germany, the Netherlands, Denmark, Sweden, Norway, Finland, Italy, Iran, and Japan. The workshop developed projections of energy supply and demand under various assumptions, notably concerning economic growth and the price of energy. Two basic scenarios were formulated, one assuming a high economic growth rate and high energy prices and the other a low growth rate and constant prices. The high-growth, high-price scenario assumed that economic growth in the non-Communist world would average 5.2% per year between 1976 and 1985 and 4% between 1985 and 2000, and that energy prices would remain constant (in real terms) until 1985 and increase 50% by 2000. The low-growth, constant-price scenario assumed that economic growth would average 3.4% per year until 1985 and then 2.8% until 2000, and that real energy prices would remain constant during the entire period. Within that framework energy-demand forecasts were prepared for the various regions for each fuel and were aggregated to project the total energy demand in 1985 and 2000.

  18. 77 FR 5385 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Revision of...

    Science.gov (United States)

    2012-02-03

    ... FURTHER INFORMATION CONTACT: Barry Broadbent, Marketing Specialist, or Gary Olson, Regional Manager... Agricultural Marketing Service 7 CFR Part 985 Marketing Order Regulating the Handling of Spearmint Oil Produced... Class 3 (Native) Spearmint Oil for the 2011-2012 Marketing Year AGENCY: Agricultural Marketing Service...

  19. The effects of Vietnamese rice export policies on world market integration

    NARCIS (Netherlands)

    Luckmann, J.; Ihle, R.; Kleinwechter, U.; Grethe, H.

    2015-01-01

    World market prices of rice have been subject to large fluctuations in recent years. Vietnam is a major exporter of rice which is also the main staple food in the country. The Vietnamese government is limiting exports, to insulate domestic consumers from world market price hikes. The effects of

  20. Transfer of Labour Time on the World Market: Religious Sanctions and Economic Results

    National Research Council Canada - National Science Library

    Sandemose, Jørgen

    2012-01-01

    ... value of commodities on the world market. A leading idea is that religious outlooks, in the way they were conceptualized by Karl Marx, have a strong bearing upon the difference in labour intensities in countries contributing to the world market, and thereby upon the differences in international values and prices. These differences are...

  1. Volatility spillovers in US crude oil, ethanol, and corn futures markets

    NARCIS (Netherlands)

    Trujillo Barrera, A.A.; Mallory, M.; Garcia, P.

    2012-01-01

    This article analyzes recent volatility spillovers in the United States from crude oil using futures prices. Crude oil spillovers to both corn and ethanol markets are somewhat similar in timing and magnitude, but moderately stronger to the ethanol market. The shares of corn and ethanol price

  2. Study to forecast and determine characteristics of world satellite communications market

    Science.gov (United States)

    Filep, R. T.; Schnapf, A.; Fordyce, S. W.

    1983-01-01

    The world commercial communications satellite market during the spring and summer of 1983 was examined and characteristics and forecasts of the market extending to the year 2000 were developed. Past, present and planned satellites were documented in relation to frequencies, procurement and launch dates, costs, transponders, and prime contractor. Characteristics of the market are outlined for the periods 1965 - 1985, 1986 - 1989, and 1990 - 2000. Market share forecasts, discussions of potential competitors in various world markets, and profiles of major communication satellite manufacturing and user countries are documented.

  3. The relationship between immigration and labour market performance in Sabah’s oil palm plantation sector

    OpenAIRE

    Kasim Mansur

    2016-01-01

    The main objective of this paper is to analyze the relationship between immigration and labor market performance in Sabah region's oil palm plantation industry. The labour market performance refers to the wages and employment of local workers in the oil palm plantation sector. The relationship of these variables can be in short run or/ and in the long run. This study uses Vector Error Correction Model (VECM) to examine the relationship between the immigration and labour market performance. In...

  4. Saudi Aramco: Oil to a Thirsty Market - International Cooperation Brings New Oil Field on Quickly

    Energy Technology Data Exchange (ETDEWEB)

    Al-Ajmi, Ali

    2007-07-01

    In response to high oil demand in 2004, Saudi Aramco committed to build facilities for the 500,000 BOPD Khursaniyah Oil Field in only 34 months from the start of preliminary engineering to startup. The project schedule was six months faster than any previous project, in the most resource competitive market the oil business has ever seen. The execution of this project required a new contract strategy, novel engineering and construction methods, and international cooperation from EPC firms and manufacturers. The project is also building a new one billion SCF per day gas plant receiving gas from five different sources with varying pressure and H2S content, along with huge water supply and injection facilities, oil gathering lines, and product distribution lines. To execute the project in this short time frame, a temporary construction city for 30,000 men has been constructed in the desert. This city has workers from all over 30 countries, speaking more than 15 languages, all focused on achieving one goal - on time completion of the most complex project ever done in Saudi Arabia. The paper will focus on the unique challenges of managing a city of this size that lasts for only 24 months. (auth)

  5. Engaging Marketing Students: Student Operated Businesses in a Simulated World

    Science.gov (United States)

    Russell-Bennett, Rebekah; Rundle-Thiele, Sharyn R.; Kuhn, Kerri-Ann

    2010-01-01

    Engaged students are committed and more likely to continue their university studies. Subsequently, they are less resource intensive from a university's perspective. This article details an experiential second-year marketing course that requires students to develop real products and services to sell on two organized market days. In the course,…

  6. World Energy Balance Outlook and OPEC Production Capacity: Implications for Global Oil Security

    Directory of Open Access Journals (Sweden)

    Azadeh M. Rouhani

    2012-07-01

    Full Text Available The imbalance between energy resource availability, demand, and production capacity, coupled with inherent economic and environmental uncertainties make strategic energy resources planning, management, and decision-making a challenging process. In this paper, a descriptive approach has been taken to synthesize the world’s energy portfolio and the global energy balance outlook in order to provide insights into the role of Organization of Petroleum Exporting Countries (OPEC in maintaining “stability” and “balance” of the world’s energy market. This synthesis illustrates that in the absence of stringent policies, i.e., if historical trends of the global energy production and consumption hold into the future, it is unlikely that non-conventional liquid fuels and renewable energy sources will play a dominant role in meeting global energy demand by 2030. This should be a source of major global concern as the world may be unprepared for an ultimate shift to other energy sources when the imminent peak oil production is reached. OPEC’s potential to impact the supply and price of oil could enable this organization to act as a facilitator or a barrier for energy transition policies, and to play a key role in the global energy security through cooperative or non-cooperative strategies. It is argued that, as the global energy portfolio becomes more balanced in the long run, OPEC may change its typical high oil price strategies to drive the market prices to lower equilibria, making alternative energy sources less competitive. Alternatively, OPEC can contribute to a cooperative portfolio management approach to help mitigate the gradually emerging energy crisis and global warming, facilitating a less turbulent energy transition path while there is time.

  7. World Oil: Coping With the Dangers of Success. Worldwatch Paper 66.

    Science.gov (United States)

    Flavin, Christopher

    This publication examines various topics and issues related to the world oil situation. Major areas considered are: (1) the nature and consequences of the current oil glut; (2) a historical overview of the petroleum era (with analyses of the three time periods of 1900-1973, 1973-1979, and 1979-1981); (3) the geopolitics of oil (including data on…

  8. The Future of the Automobile in an Oil-Short World. Worldwatch Paper 32.

    Science.gov (United States)

    Brown, Lester R.; And Others

    Possible future roles and designs of cars are examined in light of depletion of the earth's oil reserves. A major problem with regard to the rapidly changing world oil outlook is that cars will be competing with more essential claiments for scarce oil supplies including food production, industrial power, home heating, and running trucks and…

  9. Ice technology seen as key to world market

    Energy Technology Data Exchange (ETDEWEB)

    Redden, J.

    1985-05-01

    Viewing the arctic as their last chance of entering the international offshore market, the West Germans are intensifying development of ice technology. From designing arctic-class structures and icebreakers to development of low temperature steels, German researchers firmly believe they have a product to export. Convincing the international market, however, thus far has faced a number of obstacles primarily centering on protectionism. The desire of the Germans to gain a foothold in the worldwide offshore market is exemplified by the number of government-funded projects formulated of late. Most recently the West German government has initiated an arctic offshore project in which several proposals will be examined for possible funding.

  10. Changes of hierarchical network in local and world stock market

    Science.gov (United States)

    Patwary, Enayet Ullah; Lee, Jong Youl; Nobi, Ashadun; Kim, Doo Hwan; Lee, Jae Woo

    2017-10-01

    We consider the cross-correlation coefficients of the daily returns in the local and global stock markets. We generate the minimal spanning tree (MST) using the correlation matrix. We observe that the MSTs change their structure from chain-like networks to star-like networks during periods of market uncertainty. We quantify the measure of the hierarchical network utilizing the value of the hierarchy measured by the hierarchical path. The hierarchy and betweenness centrality characterize the state of the market regarding the impact of crises. During crises, the non-financial company is established as the central node of the MST. However, before the crisis and during stable periods, the financial company is occupying the central node of the MST in the Korean and the U.S. stock markets. The changes in the network structure and the central node are good indicators of an upcoming crisis.

  11. Crude oil price shocks and stock returns. Evidence from Turkish stock market under global liquidity conditions

    Energy Technology Data Exchange (ETDEWEB)

    Berk, Istemi [Koeln Univ. (Germany). Energiewirtschaftliches Inst.; Aydogan, Berna [Izmir Univ. of Economics (Turkey). Dept. of International Trade and Finance

    2012-09-15

    The purpose of this study is to investigate the impacts of crude oil price variations on the Turkish stock market returns. We have employed vector autoregression (V AR) model using daily observations of Brent crude oil prices and Istanbul Stock Exchange National Index (ISE- 1 00) returns for the period between January 2, 1990 and November 1, 2011. We have also tested the relationship between oil prices and stock market returns under global liquidity conditions by incorporating a liquidity proxy variable, Chicago Board of Exchange's (CBOE) S and P 500 market volatility index (VIX), into the model. Variance decomposition test results suggest little empirical evidence that crude oil price shocks have been rationally evaluated in the Turkish stock market. Rather, it was global liquidity conditions that were found to account for the greatest amount of variation in stock market returns.

  12. Agricultural and oil commodities: price transmission and market integration between US and Italy

    Directory of Open Access Journals (Sweden)

    Franco Rosa

    2014-08-01

    Full Text Available Purpose of this article it to get some evidences of market interaction between United States and Italy using the time series analysis of spot prices spanning from January 1999 to May 2012 for crude oil and three ag-commodities: wheat, corn and soybean. These crops have been selected for their relevance in ag-commodity exchanges between US and Italy markets. The integration between US and Italy agricultural markets is hypothesized for the consistent volume of crop traded between these two countries while the price transmission is related to the leading price signals of the CBT (Chicago Board of Trade. The integration between oil and ag-commodity markets is suggested both by the large use of energy intensive inputs, (fertilizer, seed, machinery in production of these ag-commodities, and their use in biofuel production. The results suggest: a for US market the evidence of market integration between crude oil and US ag-commodities; b for Italy the integration with US ag-commodity markets and less evidence of integration with the oil market. These results are valuable information both for the agents and policy makers contributing to improve the information accuracy to predict the price movements used by marketing operators for their strategies and policy makers to set up policies to re-establish conditions of market efficiency and allocate these ag-commodities in alternative market channels.

  13. 78 FR 23673 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Revision of...

    Science.gov (United States)

    2013-04-22

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF AGRICULTURE Agricultural Marketing Service 7 CFR Part 985 Marketing Order Regulating the Handling of Spearmint Oil Produced... Class 3 (Native) Spearmint Oil for the 2012-2013 Marketing Year AGENCY: Agricultural Marketing Service...

  14. World Oil Prices and Output Losses in Developing Countries

    OpenAIRE

    Pearce, David; Westoby, Richard

    1985-01-01

    The purpose of this paper is to measure the impact of the 1979 oil price "hike" on a selected group of developing countries. The model used for this exercise is an adaptation of a straightforward income-determination model in which domestic oil revenues are treated as a "tax" revenue from oil exports as an exogenous source of government revenue. The basis of the model is a standard GDP accounting identity modified such that government expenditure is disaggregated into domestic oil revenue, fo...

  15. The Third World Option in a Globalized Building Materials Market ...

    African Journals Online (AJOL)

    Globalization has been described as a world phenomenon that provides a level ground for competitive rivalry between economies, skills, goods, technological and industrial products, etc, from every part of the global. World- More Developed Countries (MDC) and Less Developed Countries (LDC) alike. In this study, the ...

  16. Are Financial Markets an Aspect of Quantum World?

    Directory of Open Access Journals (Sweden)

    O. Racorean

    2015-01-01

    Full Text Available Writing the article “Time independent pricing of options in range bound markets” [1], the question in the title came naturally to my mind. It is stated, in the above article, that in certain market conditions the stock price is subjected to an equation that exactly matches a time independent Schrodinger equation. The time independent equation for options valuation is used further to explain a stock market phenomenon that resembles an α particle decay tunneling effect. The transmission coefficient for the stock price tunneling effect it is also deduced. Although, it may not have important impact in quantum physics, the philosophical aspects residing in the use of quantum mechanics for stock market specific are very important.

  17. QUANTITATIVE STUDY OF THE WORLD MARKET OF MEAT

    Directory of Open Access Journals (Sweden)

    Elena COFAS

    2013-01-01

    Full Text Available This study presents the evolution of global market of meat in 2007-2011 and has been possible because the authors used an important set of indicators, namely: livestock, achieved production, imports, exports, trade balance, price etc. The data used in this work was provided by the following institutions accredited for collecting and processing statistical data: National Institute of Statistics, EUROSTAT, FAOSTAT, FAPRI and USDA. The analysis global market of meat is primarily a quantitative analysis. In the period which is analysed, the demand, the production, the imports, the exports and the prices have evolved differently, especially meat categories, so all these indicators have influenced global market of meat. In mainly, the meat consumption is influenced by the pattern of food consumption and price level. In the future, expect a increase prices, which is based on increasing production costs. Therefore, first it is necessary to adopt measures to support the farmers.

  18. Post-crisis asymmetries of the world market development of banking services

    Directory of Open Access Journals (Sweden)

    Vladyslav Тіpanov

    2011-09-01

    Full Text Available In the article there were analyzed theoretical backgrounds for defining the concept «banking service» by scientists from different countries: considered its main characteristics and classification, determined the key peculiarities of the world market functioning of banking services and its structure, found out the present-day developments of the world market of banking services under conditions of post-crisis period.

  19. EFFECT OF THE WORLD FINANCIAL CRISIS ON REAL ESTATE MARKET IN TERMS OF POLAND AND UKRAINE

    OpenAIRE

    JANUSZ RYBAK; VALENTINA SHAPOVAL

    2010-01-01

    The article studies the world financial crisis effect on real estate markets in Poland and Ukraine. It will help to deepen learning laws and peculiarities of real estate markets performance in the countries and to develop events which foster both stabilizing and their future progress.

  20. VOLATILITY SPILLOVER EFFECTS IN THE EXTRA VIRGIN OLIVE OIL MARKETS OF THE MEDITERRANEAN

    Directory of Open Access Journals (Sweden)

    Dimitrios Panagiotou

    2015-07-01

    Full Text Available The objective of this study is to assess the existence and magnitude of volatility spillovers between the extra virgin olive oil markets of Italy, Spain and Greece. These three Mediterranean countries are responsible for 95% of olive oil production within the European Union and they account for more than 50% of olive oil exports worldwide. In order to measure the degree of volatility transmission between these countries we estimate a vector error correction model along with the BEKK parameterization of a Multivariate Generalized Conditional Autoregressive Heteroskedasticity (M-GARCH model. The empirical results reveal the presence of ARCH and GARCH effects suggesting this way the existence of volatility spillovers between the extra virgin olive oil markets of Italy, Greece and Spain. ARCH effects are the biggest in magnitude for the market between Spain and Italy. GARCH effects are the biggest in magnitude for the market between Greece and Italy.

  1. Open source marketing: Camel cigarette brand marketing in the "Web 2.0" world.

    Science.gov (United States)

    Freeman, B; Chapman, S

    2009-06-01

    The international trend towards comprehensive bans on tobacco advertising has seen the tobacco industry become increasingly innovative in its approach to marketing. Further fuelling this innovation is the rapid evolution and accessibility of web-based technology. The internet, as a relatively unregulated marketing environment, provides many opportunities for tobacco companies to pursue their promotional ambitions. In this paper, "open source marketing" is considered as a vehicle that has been appropriated by the tobacco industry, through a case study of efforts to design the packaging for the Camel Signature Blends range of cigarettes. Four sources are used to explore this case study including a marketing literature search, a web-based content search via the Google search engine, interviews with advertising trade informants and an analysis of the Camel brand website. RJ Reynolds (RJR) has proven to be particularly innovative in designing cigarette packaging. RJR engaged with thousands of consumers through their Camel brand website to design four new cigarette flavours and packages. While the Camel Signature Blends packaging designs were subsequently modified for the retail market due to problems arising with their cartoon-like imagery, important lessons arise on how the internet blurs the line between marketing and market research. Open source marketing has the potential to exploit advertising ban loopholes and stretch legal definitions in order to generate positive word of mouth about tobacco products. There are also lessons in the open source marketing movement for more effective tobacco control measures including interactive social marketing campaigns and requiring plain packaging of tobacco products.

  2. The Role of Markets, Technology, and Policy in Generating Palm-Oil Demand in Indonesia

    OpenAIRE

    Gaskell, Joanne C.

    2015-01-01

    Indonesia produces more palm oil and consumes more palm oil per capita than any country in the world. This article examines the processes through which Indonesia has promoted palm-oil consumption and some of the consequences of that promotion. Partial equilibrium modelling shows that Indonesia's remarkable increase in palm-oil consumption since 1985 is not largely attributable to population and income growth. Instead, much of this consumption growth has resulted from substitution away from co...

  3. A study on chaos in crude oil markets before and after 2008 international financial crisis

    Science.gov (United States)

    Lahmiri, Salim

    2017-01-01

    The purpose of this study is to investigate existence of chaos in crude oil markets (Brent and WTI) before and after recent 2008 international financial crisis. Largest Lyapunov exponent is estimated for prices, returns, and volatilities. The empirical results show strong evidence that chaos does not exist in prices and returns in both crude oil markets before and after international crisis. However, we find strong evidence of chaotic dynamics in both Brent and WTI volatilities after international financial crisis.

  4. World Oil Price and Biofuels : A General Equilibrium Analysis

    OpenAIRE

    Timilsina, Govinda R; Mevel, Simon; Shrestha, Ashish

    2011-01-01

    The price of oil could play a significant role in influencing the expansion of biofuels. However, this issue has not been fully investigated yet in the literature. Using a global computable general equilibrium model, this study analyzes the impact of oil price on biofuel expansion, and subsequently, on food supply. The study shows that a 65 percent increase in oil price in 2020 from the 20...

  5. Branding as a Factor in Increasing the Bank’s Competitiveness in the World Market

    Directory of Open Access Journals (Sweden)

    Shkodinа Iryna V.

    2017-10-01

    Full Text Available The article discusses the branding of banks in the world market for banking services in the context of fierce competition between financial institutions. The stages of brand formation were researched as a basis for building the bank's commodity policy. The main elements of brand to improve the market position of bank have been identified. The indicators for building strong bank brands have been reviewed and the efficiency of the contemporary marketing strategies has been determined. The most efficient innovative marketing strategies for branding are determined (subscription business models, chat bots, e-commerce, digital targeted advertising to improve the market position of bank in today’s environment. The need to develop new internet marketing tools, original and risk projects in order to create efficient content and to excel the competitors. Prospects for further research in this direction is to consider e-commerce as an innovation marketing strategy that should become an integral part of branding.

  6. THE WORLDS OF FLEXICURITY-LABOUR MARKET POLICIES IN EUROPE

    Directory of Open Access Journals (Sweden)

    Ionete Anca

    2012-07-01

    Full Text Available In the past, European integration has concentrated first of all on profound economic integration, creating the Single Market with common rules and regulations throughout the European Union. European integration has been more limited in the labour market and social field, where the national state remains the dominant level of regulation. Although linguistically somewhat strange, “flexicurity”, the combination of labour market flexibility and security for employees, has become recently a much praised cornerstone of European labour market policies. Obviously, in an environment with rapid technical progress and frequently changing market conditions, employers need to manage their labour force flexibly. In order to achieve this flexibility without creating an unbearable situation for employees, security is the second pillar of the concept. As such, the concept looks like an innovative European way of consolidating economic and social interests, although some argue that much flexibility is gained while the security aspect is being neglected. Flexicurity forms a part of efforts to experiment with new forms of governance in the social and employment law of the European Union. It is compatible with attempts to introduce policies at supranational level that can influence self-transformation processes at the level of Member States in order to reach overarching economic goals defined by the Lisbon agenda. It is central in the debate over the reform of labour law systems since it is a key, if not the key concept in the 2006 Green Paper on modernising labour law in the European Union. The concept has been successfully adopted in some European countries, notably Denmark and the Netherlands. The experience in these two countries will thus be described in some detail, followed by a review of flexicurity-type policies in other European countries. The current paper is realized in the doctoral programme entitled “PhD in economics at the standards

  7. South African equity market reaction to the 2010 FIFA World CupTM ...

    African Journals Online (AJOL)

    2004-05-15

    On Saturday, May 15, 2004, the world football governing body FIFA announced that the 2010 World CupTM would be held in South Africa. This would be the first time the football tournament had gone to an African nation. This study examines the South African equity market reaction to the announcement of the 2010 FIFA ...

  8. Striking Oil: Another Puzzle

    NARCIS (Netherlands)

    G. Driesprong (Gerben); B. Jacobsen (Ben); B. Maat (Benjamin)

    2003-01-01

    textabstractWe find that changes in oil prices strongly predict future stock market returns in many countries in the world. In our thirty year sample of monthly data for developed stock markets, we find statistically significant predictability in 12 out of the 18 countries and in a world market

  9. Sectoral labour market effects of the 2006 FIFA World Cup

    DEFF Research Database (Denmark)

    Feddersen, Arne; Maennig, Wolfgang

    2012-01-01

    Using the case of the 2006 FIFA World Cup, this study is the first to test the employment effects of a mega-sporting event on the basis of data that combines both regional and sectoral data. It is also the first study of sporting events to use a semi-parametric test method. Earlier studies...

  10. Structure, dynamics and directions of changes on the world beer market

    OpenAIRE

    Zbigniew Gołaś; Mariusz Ścibek

    2009-01-01

    The report shows the results of analysis of a structure and dynamics of changes in the world beer market. In the article there are analysed production and sale of beer, the beer foreign trade, brands and consumption of beer in years 1999-2004. The research carried out shows that Europe plays the major role in the world beer production, it is the region of the biggest beer tradition in the world. However, the market leader position belongs to China, which in case of beer production has already...

  11. Effect of NAFTA, EUMFTA and China addition to WTO on the cucumber world market

    Directory of Open Access Journals (Sweden)

    Ramon Guajardo-Quiroga

    2010-07-01

    Full Text Available This study empirically analyzed the potential effects of the complete operation of North American Free Trade Agreement (NAFTA, European Union and Mexico Free Trade Agreement (EUMFTA, and the integration of China to the World Trade Organization (WTO, on the cucumber world market. Special emphasis on the impact on Mexico was presented, from a worldwide perspective. A spatial equilibrium model with endogenous prices was constructed for this purpose. Among the findings are: (1 Mexican producers benefited from the complete implementation of NAFTA and EUMFTA. (2 The incorporation of China as a member of the WTO showed a negligible effect on the commercial flows and prices in the cucumber world market. (3 Mexican cucumber production is highly competitive, in the world market, because it has the lowest supply costs.

  12. The efficiency of the crude oil markets. Evidence from variance ratio tests

    Energy Technology Data Exchange (ETDEWEB)

    Charles, Amelie [Audencia Nantes, School of Management, 8 route de la Joneliere, 44312 Nantes (France); Darne, Olivier [LEMNA, University of Nantes, IEMN-IAE, Chemin de la Censive du Tertre, 44322 Nantes (France)

    2009-11-15

    This study examines the random walk hypothesis for the crude oil markets, using daily data over the period 1982-2008. The weak-form efficient market hypothesis for two crude oil markets (UK Brent and US West Texas Intermediate) is tested with non-parametric variance ratio tests developed by [Wright J.H., 2000. Alternative variance-ratio tests using ranks and signs. Journal of Business and Economic Statistics, 18, 1-9] and [Belaire-Franch J. and Contreras D., 2004. Ranks and signs-based multiple variance ratio tests. Working paper, Department of Economic Analysis, University of Valencia] as well as the wild-bootstrap variance ratio tests suggested by [Kim, J.H., 2006. Wild bootstrapping variance ratio tests. Economics Letters, 92, 38-43]. We find that the Brent crude oil market is weak-form efficiency while the WTI crude oil market seems to be inefficiency on the 1994-2008 sub-period, suggesting that the deregulation have not improved the efficiency on the WTI crude oil market in the sense of making returns less predictable. (author)

  13. The efficiency of the crude oil markets: Evidence from variance ratio tests

    Energy Technology Data Exchange (ETDEWEB)

    Charles, Amelie, E-mail: acharles@audencia.co [Audencia Nantes, School of Management, 8 route de la Joneliere, 44312 Nantes (France); Darne, Olivier, E-mail: olivier.darne@univ-nantes.f [LEMNA, University of Nantes, IEMN-IAE, Chemin de la Censive du Tertre, 44322 Nantes (France)

    2009-11-15

    This study examines the random walk hypothesis for the crude oil markets, using daily data over the period 1982-2008. The weak-form efficient market hypothesis for two crude oil markets (UK Brent and US West Texas Intermediate) is tested with non-parametric variance ratio tests developed by [Wright J.H., 2000. Alternative variance-ratio tests using ranks and signs. Journal of Business and Economic Statistics, 18, 1-9] and [Belaire-Franch J. and Contreras D., 2004. Ranks and signs-based multiple variance ratio tests. Working paper, Department of Economic Analysis, University of Valencia] as well as the wild-bootstrap variance ratio tests suggested by [Kim, J.H., 2006. Wild bootstrapping variance ratio tests. Economics Letters, 92, 38-43]. We find that the Brent crude oil market is weak-form efficiency while the WTI crude oil market seems to be inefficiency on the 1994-2008 sub-period, suggesting that the deregulation have not improved the efficiency on the WTI crude oil market in the sense of making returns less predictable.

  14. Golden age: marketers extract the most from oil and natural gas trade

    Energy Technology Data Exchange (ETDEWEB)

    Lorenz, A.

    2000-04-01

    The complexity of the oil and natural gas markets, the complex factors which interact to produce the price of oil or natural gas on any given day, and the role of marketers in this high stakes game are discussed. While oil and natural gas prices are very good today compared to the low prices through much of the 1990s, marketers are now concerned about the ability of Canadian fields to produce enough to fill the expanded pipelines and meet the rising demand. As the oil and natural gas industry in Canada is moving from a pipeline-constrained environment to a resource-constrained environment, the question of declining reserves in the Western Canadian Sedimentary Basin and the resulting surplus in pipeline capacity is one of the most serious issues facing industry in the immediate future. This is especially true of natural gas where the cost of transportation, which can be as high as 30 per cent, is one of major importance to gas marketers. Locking in prices or allowing prices to float can make the difference between huge losses or gains depending on the interplay of the various factor that influence price fluctuations. Examples of how decisions about oil and gas prices are made, and the various outcomes that may result from marketer decisions are described to illustrate the vagaries of the natural gas market.

  15. Spatiotemporal Dynamics and Fitness Analysis of Global Oil Market: Based on Complex Network.

    Directory of Open Access Journals (Sweden)

    Ruijin Du

    Full Text Available We study the overall topological structure properties of global oil trade network, such as degree, strength, cumulative distribution, information entropy and weight clustering. The structural evolution of the network is investigated as well. We find the global oil import and export networks do not show typical scale-free distribution, but display disassortative property. Furthermore, based on the monthly data of oil import values during 2005.01-2014.12, by applying random matrix theory, we investigate the complex spatiotemporal dynamic from the country level and fitness evolution of the global oil market from a demand-side analysis. Abundant information about global oil market can be obtained from deviating eigenvalues. The result shows that the oil market has experienced five different periods, which is consistent with the evolution of country clusters. Moreover, we find the changing trend of fitness function agrees with that of gross domestic product (GDP, and suggest that the fitness evolution of oil market can be predicted by forecasting GDP values. To conclude, some suggestions are provided according to the results.

  16. Impact of Oil Price Shocks and Exchange Rate Volatility on Stock Market Behavior in Nigeria

    Directory of Open Access Journals (Sweden)

    Adedoyin I. Lawal

    2016-09-01

    Full Text Available The impact of exchange rate and oil prices fluctuation on the stock market has been a subject of hot debate among researchers. This study examined the impact of both the exchange rate volatility and oil price volatility on stock market volatility in Nigeria, so as to guide policy formulation based on the fact that the nation’s economy was foreign induced and mono-cultured with heavy dependence on oil. EGARCH estimation techniques were employed to examine if either the volatility in exchange rate, oil price volatility or both experts on stock market volatility in Nigeria. The result shows that share price volatility is induced by both the exchange rate volatility and oil price volatility. Thus, it is recommended that policymakers should pursue policies that tend to stabilize the exchange rate regime on the one hand, and guarantee the net oil exporting position for the economy, that market practitioners should formulate portfolio strategies in such a way that volatility in both exchange rates and oil price will be factored in time when investment decisions are being made.

  17. A brief review of krill oil history, research, and the commercial market.

    Science.gov (United States)

    Kwantes, Jonathan M; Grundmann, Oliver

    2015-03-01

    In the last few years there has been a noticeable increase in both the promotion and research of krill oil for its purported health benefits, including the management and treatment of conditions, such as hyperlipidemia, inflammation, and arthritis. Additionally, because krill oil contains the same omega-3 fatty acids eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) found in fish and fish oil, krill oil is viewed as a viable alternative to fish oil to deliver the health benefits associated with EPA and DHA. The following review provides an overview of the currently available 10 peer-reviewed human clinical studies on krill oil, its safety, as well as a brief summary of the commercial krill oil market.

  18. Oil Price Shocks and Stock Markets in BRICs

    Directory of Open Access Journals (Sweden)

    Ono, Shigeki

    2011-06-01

    Full Text Available This paper examines the impact of oil prices on real stock returns for Brazil, China, India and Russia over 1999:1-2009:9 using VAR models. The results suggest that whereas real stock returns positively respond to some of the oil price indicators with statistical significance for China, India and Russia, those of Brazil do not show any significant responses. In addition, statistically significant asymmetric effects of oil price increases and decreases are observed in India. The analysis of variance decomposition shows that the contribution of oil price shocks to volatility in real stock returns is relatively large and statistically significant for China and Russia.

  19. Oil palm genome sequence reveals divergence of interfertile species in old and new worlds

    Science.gov (United States)

    Singh, Rajinder; Ong-Abdullah, Meilina; Low, Eng-Ti Leslie; Manaf, Mohamad Arif Abdul; Rosli, Rozana; Nookiah, Rajanaidu; Ooi, Leslie Cheng-Li; Ooi, Siew–Eng; Chan, Kuang-Lim; Halim, Mohd Amin; Azizi, Norazah; Nagappan, Jayanthi; Bacher, Blaire; Lakey, Nathan; Smith, Steven W; He, Dong; Hogan, Michael; Budiman, Muhammad A; Lee, Ernest K; DeSalle, Rob; Kudrna, David; Goicoechea, Jose Louis; Wing, Rod; Wilson, Richard K; Fulton, Robert S; Ordway, Jared M; Martienssen, Robert A; Sambanthamurthi, Ravigadevi

    2013-01-01

    Oil palm is the most productive oil-bearing crop. Planted on only 5% of the total vegetable oil acreage, palm oil accounts for 33% of vegetable oil, and 45% of edible oil worldwide, but increased cultivation competes with dwindling rainforest reserves. We report the 1.8 gigabase (Gb) genome sequence of the African oil palm Elaeis guineensis, the predominant source of worldwide oil production. 1.535 Gb of assembled sequence and transcriptome data from 30 tissue types were used to predict at least 34,802 genes, including oil biosynthesis genes and homologues of WRINKLED1 (WRI1), and other transcriptional regulators1, which are highly expressed in the kernel. We also report the draft sequence of the S. American oil palm Elaeis oleifera, which has the same number of chromosomes (2n=32) and produces fertile interspecific hybrids with E. guineensis2, but appears to have diverged in the new world. Segmental duplications of chromosome arms define the palaeotetraploid origin of palm trees. The oil palm sequence enables the discovery of genes for important traits as well as somaclonal epigenetic alterations which restrict the use of clones in commercial plantings3, and thus helps achieve sustainability for biofuels and edible oils, reducing the rainforest footprint of this tropical plantation crop. PMID:23883927

  20. Strings and brane world scenarios in financial market data

    Directory of Open Access Journals (Sweden)

    Richard Pincak

    2013-05-01

    Full Text Available In the paper, we study the projections of the real exchange rate dynamics onto the string-like topology. Our approach is inspired by the contemporary movements in the string theory. The string map of data is defined here by the boundary conditions, characteristic length, real valued and the method of redistribution of information. As a practical matter, this map represents the detrending and data standardization procedure. We introduced maps onto 1-end-point and 2-end-point open strings that satisfy the Dirichlet and Neumann boundary conditions. The questions of the choice of extra-dimensions, symmetries, duality and ways to the partial compactification are discussed. Subsequently, we pass to higher dimensional and more complex objects. The 2D-Brane was suggested which incorporated bid-ask spreads. The systematic way which allows one suggest more structured maps suitable for a simultaneous study of several currency pairs was analyzed by means of the Gâteaux generalized differential calculus. The effect of the string and brane maps on test data was studied by comparing their mean statistical characteristics. The possible utilizations of the string theory approach in financial market are slight.

  1. 76 FR 61933 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Revision of...

    Science.gov (United States)

    2011-10-06

    ..., 733,877 pounds of Scotch spearmint oil have already been sold or committed, which leaves just 186,505... of essential oils and the products of essential oils. In addition, the Committee estimates that 8 of... Service 7 CFR Part 985 Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West...

  2. Measuring Export Competitiveness of Yarn Commodities and Textile Industry of Central Java in World Market

    Directory of Open Access Journals (Sweden)

    Hertiana Ikasari

    2016-10-01

    Full Text Available Yarn commodities and textile industries are the main export commodities of Central Java. Nevertheless, there are still some problems to face. The purpose of this research is to analyze the market share and competitive advantages position of the yarn commodities and the textile industries of Central Java in the world market. The Acceleration Ratio (AR and Trade Specialization Index (TSI are used to analyze the export competitiveness of the yarn commodities and the textile industries. The results obtained indicates that AR of the export of yarn commodities and textile industries of Central Java is greater than 1 (AR> 1. TSI of yarn commodities and textile industries in Central Java is 0.45 and has positive value. These results indicates that Central Java has a strong market share and tends to be a regional exporter of yarn and textile commodities in the world market.

  3. North African oil and foreign investment in changing market conditions

    Energy Technology Data Exchange (ETDEWEB)

    Fattouh, Bassam [SOAS, University of London (United Kingdom); Darbouche, Hakim [Oxford Institute for Energy Studies (United Kingdom)

    2010-02-15

    Since the 1960s, the experiences of the North African oil producers of Libya, Algeria, Egypt and Sudan within the oil industry have followed separate paths, which have led them into different relations with foreign oil companies. While reflecting broader trends of 'resource nationalism', these relations have also been affected by a number of factors specific to these countries. In tracing the evolution of the oil investment frameworks of these countries, as well as their concomitant relations with IOCs, this paper probes the roles played by these factors and argues that the type and size of remaining reserves as well as the capability of NOCs are likely to determine the most future developments in the region's oil industry. (author)

  4. The Development of Petroleum Refining in the World Market Dimensions of Sustainable Development

    Directory of Open Access Journals (Sweden)

    Alexey S. Shapran

    2015-11-01

    Full Text Available The development of petroleum refining in the world market dimensions of sustainable development investigated by the author's interpretation of the OECD model "pressure – state – response", where the pressure parameters proposed use – CO2 emissions, the state parameters – indicators of output and foreign trade refining sector; indicators to community response – (GDP eco-intensity. On the basis of economic and mathematical modeling performed of the adaptation and their value for use in the model parameters, performed a quantitative assessment of the relationship between the key requirements for sustainable development and development of the world petroleum refining market. This approach gave to perform a quantitative assessment of the level and impact of individual factors on the development of world petroleum market in countries with different technological structures.

  5. Response of the Polish Wheat Prices to the Worlds Crude Oil Prices

    Directory of Open Access Journals (Sweden)

    HAMULCZUK

    2012-07-01

    Full Text Available Agricultural commodities prices play crucial role both in farmers income determination and in price relationship establishment for the whole economy. Among the factors influencing the wheat prices, crude oil prices are considered as one of the most important. The aim of this paper was to assess the character of linkage between world crude oil prices and Polish wheat prices. Results of the research confirm the existence of such linkage although the nature and the strength of this relationship changes over time. However, the long-run relationships between the crude oil and Polish wheat prices were not proven. Moreover, growing impact of crude oil prices on Polish wheat prices over time was not detected. The results suggest that exchange rates may strongly influence wheat prices. This in turn may weaken response of Polish wheat prices in relation to world crude oil prices.

  6. Plasticizer contamination in edible vegetable oil in a U.S. retail market.

    Science.gov (United States)

    Bi, Xiaolong; Pan, Xiaojun; Yuan, Shoujun; Wang, Qiquan

    2013-10-02

    With the wide application of plastics, the contamination of plasticizers migrating from plastic materials in the environment is becoming ubiquitous. The presence of phthalates, the major group of plasticizers, in edible items has gained increasingly more concern due to their endocrine disrupting property. In this study, 15 plasticizers in 21 edible vegetable oils purchased from a U.S. retail market were analyzed using gas chromatograph-mass spectrometry. Di(2-ethylhexyl) phthalate (DEHP) and diisobutyl phthalate (DiBP) were detected in all oil samples. Benzylbutyl phthalate (BzBP), dibutyl phthalate (DBP), and diethyl phthalate (DEP) were detected at a rate of 95.2, 90.5, and 90.5%, respectively. The detection rates for all other plasticizers ranged from 0 to 57.1%. The content of total plasticizers in oil samples was determined to be 210-7558 μg/kg, which was comparable to the content range in oil marketed in Italy. Although no significant difference (p = 0.05) in the total content of plasticizer was observed among oil species (soybean, canola, corn, and olive), the wider range and higher average of total content of plasticizers in olive oil than other oil species indicated the inconsistence of plasticizer contamination in olive oil and a possible priority for quality monitoring. No significant difference (p = 0.05) in the total content of plasticizers was found among glass-bottle (n = 4), plastic-bottle (n = 14), and metal-can (n = 3) packaging, implying that oil packaging is not the major cause of plasticizer contamination. The daily intake amount of plasticizers contained in edible oil on this U.S. retail market constituted only a minimum percentage of reference dose established by US EPA, thus no obvious toxicological effect might be caused. However, the fact that DEHP content in two olive oils exceeded relevant special migration limits (SMLs) of Europe and China might need attention.

  7. Analyzing and forecasting volatility spillovers, asymmetries and hedging in major oil markets

    Energy Technology Data Exchange (ETDEWEB)

    Chang, Chia-Lin [Department of Applied Economics National Chung Hsing University Taichung, 250 Kuo Kuang Road, National Chung Hsing University Taichung 402 (China); McAleer, Michael [Econometric Institute, Erasmus School of Economics, Erasmus University Rotterdam (Netherlands); Tinbergen Institute (Netherlands); Tansuchat, Roengchai [Faculty of Economics, Maejo University (Thailand)

    2010-11-15

    Crude oil price volatility has been analyzed extensively for organized spot, forward and futures markets for well over a decade, and is crucial for forecasting volatility and Value-at-Risk (VaR). There are four major benchmarks in the international oil market, namely West Texas Intermediate (USA), Brent (North Sea), Dubai/Oman (Middle East), and Tapis (Asia-Pacific), which are likely to be highly correlated. This paper analyses the volatility spillover and asymmetric effects across and within the four markets, using three multivariate GARCH models, namely the constant conditional correlation (CCC), vector ARMA-GARCH (VARMA-GARCH) and vector ARMA-asymmetric GARCH (VARMA-AGARCH) models. A rolling window approach is used to forecast the 1-day ahead conditional correlations. The paper presents evidence of volatility spillovers and asymmetric effects on the conditional variances for most pairs of series. In addition, the forecast conditional correlations between pairs of crude oil returns have both positive and negative trends. Moreover, the optimal hedge ratios and optimal portfolio weights of crude oil across different assets and market portfolios are evaluated in order to provide important policy implications for risk management in crude oil markets. (author)

  8. The world petroleum market in 2007. DIREM analysis; Le marche petrolier mondial en 2007. Analyse de la DIREM

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    2007: the world is becoming used to a high oil price. With an average price of 72.6 US$ per barrel for the ICE Brent, the crude rates show a 9.8% rise with respect to the 2006 ones (66.11 US$/b) following the 20% rise observed in 2006. Price rates show a sawtooth evolution but with a general rise over the full year. Thanks to a US$ change rate favorable to the euro, the 2007 average is of 52.76 euro/b with respect to 52.65 euro/b in 2006. At the end of the year 2007 the barrel price reached 93.85 US$/b with respect to 60.86 US$/b at the end of 2006. The document analyses the impact of these high prices on the economies of oil-consuming and oil-producing countries. It presents the 2007 highlights of the main OPEC countries (Saudi Arabia, Iran, Venezuela, Iraq, Nigeria, Angola), and then analyses the international quotations of petroleum products on the Rotterdam market and the prices of petroleum products in France. (J.S.)

  9. The behavior of hake prices in Chile: is the world market leading?

    Directory of Open Access Journals (Sweden)

    Felipe Quezada

    2014-11-01

    Full Text Available In this study we analyzed price determination throughout the Chilean hake market chain. To analyze the relationship between different prices participating in this chain, a VECM model was successfully estimated. One cointegration vector was identified. Tests for weak exogenous variables, causality, and significance of different variables were performed, and a parsimonious version of the model was selected. The results obtained in this paper outline a price determination process that, in the end, is governed by world market conditions. Moreover, the diverse links in the hake market chain seem to be well integrated, which implies that there is little room for domestic price determination.

  10. The new role of national oil companies - NOCs in international energy markets: a study case of BRICS; O novo papel das national oil companies - NOCs nos mercados internacionais de energia: um estudo de caso das BRICS

    Energy Technology Data Exchange (ETDEWEB)

    Simas, Marcelo Marinho [Petroleo Brasileiro S.A. (PETROBRAS), Rio de Janeiro, RJ (Brazil)

    2012-07-01

    remarkable change is observed in the environment of the oil and gas industry from the beginning of this decade in view of several factors: raise of technical ability and investments in R and D by the National Oil Companies (NOCs); rising tendency of oil price - result of economical expansion of China and India - despite momentary falls; nationalization of oil and gas reserves in several countries and technological transfer from oil companies to services companies. Herewith a high degree of reserves concentration of oil and gas production was acquired toward a few companies and countries. According the PFC Energy, in 2009 NOCs held 77% of world reserves of oil and 51% of gas against 7% and 9% respectively of the International Oil Companies (IOCs), with impact on oil geopolitics and energy market. Contrarily, IOCs are also redefining their role in this 'chess game' of oil geopolitics due above all to the direction of exploitation programs for deep waters in the few remained areas, to the high investments in R and D to raise the recovery factor of the mature fields and to rendering specialized services to the NOCs. The objective of this research is to consider the new strategies of the NOCs, their influences in the economic and energetic policies of the home countries of the companies as well as the IOCS, their influences in the concentration of the reserves and production, integration with the productive chain and participation in several sectors of industry. (author)

  11. Testing the weak-form efficiency of the WTI crude oil futures market

    Science.gov (United States)

    Jiang, Zhi-Qiang; Xie, Wen-Jie; Zhou, Wei-Xing

    2014-07-01

    The weak-form efficiency of energy futures markets has long been studied and empirical evidence suggests controversial conclusions. In this work, nonparametric methods are adopted to estimate the Hurst indexes of the WTI crude oil futures prices (1983-2012) and a strict statistical test in the spirit of bootstrapping is put forward to verify the weak-form market efficiency hypothesis. The results show that the crude oil futures market is efficient when the whole period is considered. When the whole series is divided into three sub-series separated by the outbreaks of the Gulf War and the Iraq War, it is found that the Gulf War reduced the efficiency of the market. If the sample is split into two sub-series based on the signing date of the North American Free Trade Agreement, the market is found to be inefficient in the sub-periods during which the Gulf War broke out. The same analysis on short-time series in moving windows shows that the market is inefficient only when some turbulent events occur, such as the oil price crash in 1985, the Gulf war, and the oil price crash in 2008.

  12. Material flow analysis and market survey for securing the disposal of waste oils; Stoffstrom- und Marktanalyse zur Sicherung der Altoelentsorgung

    Energy Technology Data Exchange (ETDEWEB)

    Sander, Knut; Jepsen, Dirk; Zangl, Stephanie; Schilling, Stephanie [Institut fuer Oekologie und Politik GmbH (OEKOPOL), Hamburg (Germany)

    2006-05-15

    This research project had two main topics: 1. A material flow analysis of the German waste oil flow adapted to the current situation 2. An analysis of the German waste oil recovery market, possible recent market changes and the potential influences of different factors. In order to determine the German waste oil mass flows the German Ministry of Environment applies a calculation model which is based on a backwards calculation approach (Rueckrechnungsmodell, backward calculation model). The performed analysis of this model revealed that it is suitable for the calculation of the German waste oil material flows. Aiming at a further qualification some elements of the model have been updated respectively adapted to new developments. In the course of the market analysis the basic economic parameter like supply, demand, prices resp. price differences of the German waste oil management market were considered. It was analysed how the changing market conditions affect the waste oil material flows and the waste oil recovery. Furthermore it was examined whether the given circumstances are sufficient to maintain a secure and sustainable waste oil disposal. The research results showed that the German waste oil market performs well and is reacting flexible on price signals of the respective (primary) reference products. During the timeframe investigated (2000-2004) an increasing majority of the available waste oil was used for the production of secondary mineral oil products. 30% of the available waste oil has been submitted to energy recovery operations. During these years the waste oil ordinance (Altoelverordnung) and the directive to promote processing of waste oil into base oil (Foerderrichtlinie) entered into force and relevant investments in waste oil treatment facilities were executed. The reliability of the future waste oil management is therefore approved and sufficient capacity reserves are available in all waste oil related management areas. (orig.)

  13. 77 FR 21391 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Revision of...

    Science.gov (United States)

    2012-04-10

    ... Manager, Northwest Marketing Field Office, Marketing Order and Agreement Division, Fruit and Vegetable... / Tuesday, April 10, 2012 / Rules and Regulations#0;#0; ] DEPARTMENT OF AGRICULTURE Agricultural Marketing Service 7 CFR Part 985 Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West...

  14. 76 FR 27852 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable...

    Science.gov (United States)

    2011-05-13

    ... Agricultural Marketing Service 7 CFR Part 985 Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable Quantities and Allotment Percentages for the 2011-2012 Marketing Year AGENCY: Agricultural Marketing Service, USDA. ACTION: Final rule. SUMMARY: This rule establishes the quantity of...

  15. 77 FR 33076 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable...

    Science.gov (United States)

    2012-06-05

    ... Agricultural Marketing Service 7 CFR Part 985 Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable Quantities and Allotment Percentages for the 2012-2013 Marketing Year AGENCY: Agricultural Marketing Service, USDA. ACTION: Final rule. SUMMARY: This rule establishes the quantity of...

  16. 78 FR 32070 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable...

    Science.gov (United States)

    2013-05-29

    ... Agricultural Marketing Service 7 CFR Part 985 Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable Quantities and Allotment Percentages for the 2013-2014 Marketing Year AGENCY: Agricultural Marketing Service, USDA. ACTION: Final rule. SUMMARY: This final rule establishes the quantity of...

  17. 77 FR 13019 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable...

    Science.gov (United States)

    2012-03-05

    ... Agricultural Marketing Service 7 CFR Part 985 Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable Quantities and Allotment Percentages for the 2012-2013 Marketing Year AGENCY: Agricultural Marketing Service, USDA. ACTION: Proposed rule. SUMMARY: This rule would establish the quantity of...

  18. Booming markets for Moroccan argan oil appear to benefit some rural households while threatening the endemic argan forest

    Science.gov (United States)

    Lybbert, Travis J.; Aboudrare, Abdellah; Chaloud, Deborah; Magnan, Nicholas; Nash, Maliha

    2011-01-01

    Morocco's argan oil is now the most expensive edible oil in the world. High-value argan markets have sparked a bonanza of argan activity. Nongovernmental organizations, international and domestic development agencies, and argan oil cooperatives aggressively promote the win–win aim of simultaneously benefiting local people and the health of the argan forest. This paper tests some of these win–win claims. Analysis of a panel of detailed household data suggests that the boom has enabled some rural households to increase consumption, increase their goat herds (which bodes poorly for the argan forest), and send their girls to secondary school. The boom has predictably made households vigilant guardians of fruit on the tree, but it has not incited investments in longer term tree and forest health. We evaluate landscape-level impacts of these changes using commune-level data on educational enrollment and normalized difference vegetation index data over the period from 1981 to 2009. The results of the mesoanalysis of enrollment are consistent with the microanalysis: the argan boom seems to have improved educational outcomes, especially for girls. Our normalized difference vegetation index analysis, however, suggests that booming argan prices have not improved the forest and may have even induced degradation. We conclude by exploring the dynamic interactions between argan markets, local institutions, rural household welfare, and forest conservation and sustainability. PMID:21873185

  19. Booming markets for Moroccan argan oil appear to benefit some rural households while threatening the endemic argan forest.

    Science.gov (United States)

    Lybbert, Travis J; Aboudrare, Abdellah; Chaloud, Deborah; Magnan, Nicholas; Nash, Maliha

    2011-08-23

    Morocco's argan oil is now the most expensive edible oil in the world. High-value argan markets have sparked a bonanza of argan activity. Nongovernmental organizations, international and domestic development agencies, and argan oil cooperatives aggressively promote the win-win aim of simultaneously benefiting local people and the health of the argan forest. This paper tests some of these win-win claims. Analysis of a panel of detailed household data suggests that the boom has enabled some rural households to increase consumption, increase their goat herds (which bodes poorly for the argan forest), and send their girls to secondary school. The boom has predictably made households vigilant guardians of fruit on the tree, but it has not incited investments in longer term tree and forest health. We evaluate landscape-level impacts of these changes using commune-level data on educational enrollment and normalized difference vegetation index data over the period from 1981 to 2009. The results of the mesoanalysis of enrollment are consistent with the microanalysis: the argan boom seems to have improved educational outcomes, especially for girls. Our normalized difference vegetation index analysis, however, suggests that booming argan prices have not improved the forest and may have even induced degradation. We conclude by exploring the dynamic interactions between argan markets, local institutions, rural household welfare, and forest conservation and sustainability.

  20. Price volatility, hedging and variable risk premium in the crude oil market

    Energy Technology Data Exchange (ETDEWEB)

    Ahmad Jalali-Naini [Institute for Education and Research in Management and Planning, Tehran (Iran); Maryam Kazemi Manesh [University of Mannheim (Germany)

    2006-06-15

    The crude oil price exhibits a high degree of volatility which varies significantly over time. Such characteristics imply that the oil market is a promising area for testing volatility models. Testing and predicting volatility using ARCH and GARCH models have grown in the literature. A useful application of the volatility models is in the formulation of hedging strategies. In this paper we compare the optimal hedge ratio for the crude oil using the classical minimum risk approach and use ARCH to incorporate the effect of heteroskedasticity in the residuals on the hedge ratio. In addition, we test for the existence of a variable risk premium in the crude oil market. We find that, assuming rational expectations, there is a non-zero risk premium. We test for the variability of the risk premia and find evidence in its support when we employed a multivariate GARCH model. (author)

  1. The impact of the joining of Kingdom of Saudi Arabia for World Trade Organization (WTO on local marketing of national products

    Directory of Open Access Journals (Sweden)

    Najah Hassan Salamah

    2016-11-01

    Full Text Available Saudi Arabia is one of the wealthiest nations per capita in the world, as well as an economic power through possession of a large share of global oil resources. This study has been carried out to identify the benefits, which are likely to be enjoyed by Saudi Arabia after its accession into World Trade Organization. A total of 15 entrepreneurs filled out the questionnaires, which were designed on the basis of Likert scale. In order to analyze the outcomes, descriptive statistics technique has been applied after data collection from the respondents. Most of the participants consider the joining of Saudi Arabia into World Trade Organization as a beneficial decision for the Saudi market. This accession is advantageous as it helps to enhance the marketing and investment opportunities, as a consequence of which the economy of Saudi Arabia flourishes and the population rises. The marketing techniques are required to be established and adopted to manufacture high-quality products. The study outcomes are helpful for the policymakers and Saudi companies to emphasize on the production of high-quality products, as well as to implement the strategies for better marketing of their products in local market.

  2. Possible restructuring of the worldwide oil market caused by the incidence of carbon tax; Possivel reestruturacao do mercado mundial de petroleo diante da incidencia da taxacao de carbono

    Energy Technology Data Exchange (ETDEWEB)

    Aguiar, Anna Cecilia J. de; Szklo, Alexandre; Cohen, Claude; Schaeffer, Roberto [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil). Coordenacao dos Programas de Pos-Graduacao de Engenharia (COPPE). Programa de Planejamento Energetico

    2008-07-01

    In the context of global climate change, carbon taxes, which vary positively with the carbon content of fuels, are seen as one of the main mitigative alternatives.. The incidence of this taxation will impact the relative prices of the different oil products and, possibly, change the demand curves for these products. Also, it will impact oil companies, which will have to adapt themselves to this new policy, so as to avoid, or to minimize, market share losses. However, only in the long term more complex changes in the market structures will be observed. As such, this paper aims at analyzing the relationships between the consumption of oil products in the short and long terms, and their corresponding consumers' income and price elasticities of demand due to carbon taxation, so as to assess their impacts on the World Petroleum Industry (WPI). (author)

  3. The perceived marketing benefits of the 2010 FIFA World Cup&trade ...

    African Journals Online (AJOL)

    The craft industry derives major benefits from the growth in the number of tourists visiting South Africa (SA). The recent sport mega event, the FIFA World Cup TM, created market access and business growth opportunities for the craft businesses since more international tourists visited the country in year 2010 than before.

  4. Tanzania’s oil and gas contract regime, investments and markets

    DEFF Research Database (Denmark)

    Bofin, Peter; Pedersen, Rasmus Hundsbæk

    This paper analyses the development of Tanzania’s petroleum sector based on a review of laws and contracts. It provides an overview of current upstream activities and discusses the potential for the commercialisation of finds through the increasingly important midstream contracts that govern...... the use of natural gas. It demonstrates that Tanzania has managed to build institutional capacity over the years, but that it struggles to keep abreast of market signals. As a frontier market it experiences a later surge in exploration activities by international oil companies when oil prices are high...

  5. 2011 Outlook of the U.S. and World Sugar Markets, 2010-2020

    OpenAIRE

    Won W. KOO; Taylor, Richard D.

    2011-01-01

    This report evaluates the U.S. and world sugar markets for 2010-2020 using the Global Sugar Policy Simulation Model. This analysis is based on assumptions about general economic conditions, agricultural policies, population growth, weather conditions, and technological changes. Both the U.S. and world sugar economies are predicted to remain stable over the next ten years. Sugar prices were increased from 18.7 cents/ lb in 2009 to 27 cents/lb in 2010. World sugar production increased in 2010 a...

  6. 2012 Outlook of the U.S. and World Sugar Markets, 2011-2021

    OpenAIRE

    Won W. KOO; Taylor, Richard D.

    2012-01-01

    This report evaluates the U.S. and world sugar markets for 2011-2021 using the Global Sugar Policy Simulation Model. This analysis is based on assumptions about general economic conditions, agricultural policies, population growth, weather conditions, and technological changes. Both the U.S. and world sugar economies are predicted to remain stable over the next ten years. Sugar prices increased from 18.7 cents/ lb in 2009, 27 cents/lb in 2010 and 32 cent/lb in 2011. World sugar production inc...

  7. Bio-Oil Deployment in the Home Heating Market

    Energy Technology Data Exchange (ETDEWEB)

    Butcher, T. A. [Brookhaven National Lab. (BNL), Upton, NY (United States); Trojanowski, R. [Brookhaven National Lab. (BNL), Upton, NY (United States); Mante, O. [Brookhaven National Lab. (BNL), Upton, NY (United States); Wei, G. [Brookhaven National Lab. (BNL), Upton, NY (United States); Celebi, Y. [Brookhaven National Lab. (BNL), Upton, NY (United States); Huber, J. [Brookhaven National Lab. (BNL), Upton, NY (United States)

    2016-07-01

    Distillate fuel oil is used in many stationary heating applications, predominantly in the Northeastern part of the United States. Total estimated non-transportation distillate use in 2014 was estimated to be 10.9 billion gallons. This study has focused on potentially displacing part of this petroleum use with biofuel derived from woody biomass. The fuel production route considered is pyrolysis which creates a liquid fuel high in oxygen, organic acids, and water. While this fuel can be used in stationary applications without significant further processing, to do so would require significant upgrades in current heating equipment. Alternatively this raw pyrolysis oil can be upgraded through catalytic hydrogenation to produce a bio-oil with near-negligible oxygen, water, and acidity. The focus of this work has been exploration of such upgraded fuels. The quality of upgraded fuels is affected by process conditions and there is a cost /quality tradeoff.

  8. Recent Dynamics of Crude Oil Prices

    OpenAIRE

    Noureddine Krichene

    2006-01-01

    Crude oil prices have been on a run-up spree in recent years. Their dynamics were characterized by high volatility, high intensity jumps, and strong upward drift, indicating that oil markets were constantly out-of-equilibrium. An explanation of the oil price process in terms of the underlying fundamentals of oil markets and world economy was provided, viewing pressure on oil prices mainly as a result of rigid crude oil supply and an expanding world demand for crude oil. A change in the oil pr...

  9. Dynamic Jump Intensities and Risk Premiums in Crude Oil Futures and Options Markets

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Jacobs, Kris; Li, Bingxin

    2016-01-01

    Options on crude oil futures are the most actively traded commodity options. We develop a class of computationally efficient discrete-time jump models that allow for closed-form option valuation, and we use crude oil futures and options data to investigate the economic importance of jumps...... and dynamic jump intensities in these markets. Allowing for jumps is crucial for modeling crude oil futures and futures options, and we find evidence in favor of time-varying jump intensities. During crisis periods, jumps occur more frequently. The properties of the jump processes implied by the option data...

  10. A strategic game between key players in a competitive oil market; Um jogo estrategico entre atores-chave em um mercado competitivo de petroleo

    Energy Technology Data Exchange (ETDEWEB)

    Medina, Fernando; Ferreira Filho, Virgilio Jose Martins [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil). Coordenacao dos Programas de Pos-graduacao de Engenharia (COPPE)

    2004-07-01

    This article aims to state a strategic game devised in Theory Game, regarding some aspects present in a highly competitive oil market. A set of strategies for two key players of the world oil industry is created. Both of them are in a conflict of economic interest and make decisions based on rational and conservative principles. Pure and mixed strategies, the minimax optimizing method and the concept of Nash Equilibrium among optimum strategies are used to calculate the expected value for decision for each actor in the game. (author)

  11. Global energy crunch: How different parts of the world would react to a peak oil scenario

    Energy Technology Data Exchange (ETDEWEB)

    Friedrichs, Joerg, E-mail: joerg.friedrichs@qeh.ox.ac.u [University of Oxford, Department of International Development, Queen Elizabeth House, 3 Mansfield Road, Oxford OX1 3TB (United Kingdom); St Cross College, 61 St Giles, Oxford OX1 3LZ (United Kingdom)

    2010-08-15

    Peak oil theory predicts that oil production will soon start a terminal decline. Most authors imply that no adequate alternate resource and technology will be available to replace oil as the backbone resource of industrial society. This article uses historical cases from countries that have gone through a similar experience as the best available analytical strategy to understand what will happen if the predictions of peak oil theorists are right. The author is not committed to a particular version of peak oil theory, but deems the issue important enough to explore how various parts of the world should be expected to react. From the historical record he is able to identify predatory militarism, totalitarian retrenchment, and socioeconomic adaptation as three possible trajectories.

  12. Global energy crunch. How different parts of the world would react to a peak oil scenario

    Energy Technology Data Exchange (ETDEWEB)

    Friedrichs, Joerg [University of Oxford, Department of International Development, Queen Elizabeth House, 3 Mansfield Road, Oxford OX1 3TB (United Kingdom); St Cross College, 61 St Giles, Oxford OX1 3LZ (United Kingdom)

    2010-08-15

    Peak oil theory predicts that oil production will soon start a terminal decline. Most authors imply that no adequate alternate resource and technology will be available to replace oil as the backbone resource of industrial society. This article uses historical cases from countries that have gone through a similar experience as the best available analytical strategy to understand what will happen if the predictions of peak oil theorists are right. The author is not committed to a particular version of peak oil theory, but deems the issue important enough to explore how various parts of the world should be expected to react. From the historical record he is able to identify predatory militarism, totalitarian retrenchment, and socioeconomic adaptation as three possible trajectories. (author)

  13. International wind energy development. World market update 2012. Forecast 2013-2017

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2013-03-15

    The BTM wind report, World Market Update 2012, published by Navigant Research, is the eighteenth edition of this annual wind energy market report. The report includes more than 80 tables, charts and graphs illustrating global wind market development, as well as a wind market forecast for 2013?2017 and highlighted trends for the wind market through 2022. The report delivers several views on the fast?growing wind market, including: 1) More than 285 GW of wind power now installed globally; 2) 45GW of new capacity added in 2012, including 1.1 GW from offshore wind; 3) The United States surpassed China as the largest market in terms of new installations in 2012; 4) Europe lost its position as the largest world region in terms of new installations; 5) Wind installations in the Americas grew by 12.3 percent compared with 2011; 6) Big shake?up in the top ten wind turbine supplier ranking; 7) Strong Chinese presence among top 15 wind owner?operators; 8) Wind market structures continue to evolve; 9) The penetration of wind power in the world's electricity supply has reached 2.62 percent; 10) Offshore wind more than doubled the capacity added in 2011, with more than 4 GW currently under construction. With the addition of 44,951 MW in new installations in 2012, world wind power capacity grew to around 285,700 MW, an increase in the total wind power installation base of 18.6 percent. Market growth year-over-year in 2012, though a modest 7.8 percent, was still higher than in 2011. Average annual growth for the past five years has been 17.8 percent, achieved during the aftermath of the 2008 financial crisis, with traditionally large markets for wind power in economic recession in America and Europe. The wind power industry continues to demonstrate its ability to rapidly evolve to meet new demands in markets that face a variety of challenges. The focus on product diversification grows with wind turbine vendors designing machines for maximum energy production in low wind speed

  14. Structure, dynamics and directions of changes on the world beer market

    Directory of Open Access Journals (Sweden)

    Zbigniew Gołaś

    2009-01-01

    Full Text Available The report shows the results of analysis of a structure and dynamics of changes in the world beer market. In the article there are analysed production and sale of beer, the beer foreign trade, brands and consumption of beer in years 1999-2004. The research carried out shows that Europe plays the major role in the world beer production, it is the region of the biggest beer tradition in the world. However, the market leader position belongs to China, which in case of beer production has already overtaken position of longstanding beer market leader – United States. Geography and dynamics of beer sale have been changed as well. Distinct slowing down in beer sale on markets of the biggest beer traditions can be noticed, while on the area of Central East Europe, East Europe and Asia the strong dynamics of sale can be observed. The reasons of such a trend are various, mostly the changes are triggered by strongly differentiated level of beer consumption per capita and changes in costumers tastes, much more focused on consuming soft alcoholic drinks.

  15. Economics of palm oil marketing in Owerri, Imo State, Nigeria ...

    African Journals Online (AJOL)

    The result obtained revealed that 31.2 percent of the traders were young, active and capable of taking risks in the business, while the old traders were gradually quitting the trade. There is a very high cost of (57.5 percent) and processing (15.8 percent) an indication that price fluctuation in eminent in the marketing. There is ...

  16. Chinese and world equity markets : A review of the volatilities and correlations in the first fifteen years

    NARCIS (Netherlands)

    Lin, Kuan Pin; Menkveld, Albert J.; Yang, Zhishu

    2009-01-01

    After more than 15 years of Chinese equity markets, we study how variance, covariance, and correlations have developed in these markets relative to world markets, based on the dynamic conditional correlation (DCC) model of Engle [Engle, R., 2002. A dynamic conditional correlation: A simple class of

  17. Modelling and Testing Volatility Spillovers in Oil and Financial Markets for USA, UK and China

    NARCIS (Netherlands)

    C-L. Chang (Chia-Lin); M.J. McAleer (Michael); J. Tian (Jiarong)

    2016-01-01

    textabstractThe primary purpose of the paper is to analyze the conditional correlations, conditional covariances, and co-volatility spillovers between international crude oil and associated financial markets. The paper investigates co-volatility spillovers (namely, the delayed effect of a returns

  18. Virtual learning : oil and gas training in the virtual world

    Energy Technology Data Exchange (ETDEWEB)

    Macedo, R.

    2006-07-15

    New software technologies may help to meet increased training demands in the booming oil and gas industry. Although not intended to take the place of hands-on training, a new 3-D simulation program designed by Terris Hill may help new employees demonstrate initial competency. The program outlines the basic training requirements of working on a service rig and was designed to look like many of today's video games. The software was patterned after one cycle of work on a particular job on a service rig. Workers navigate through the 3-D program, which was was built by animators and graphic artists and then tested by experts in the industry. Calgary-based 3D Internet is also developing technology to create training programs for workers in the oil and gas industry. In addition to interactive training programs, the company has constructed simulations, and has recently completed a project for a massive water treatment plant in Saudi Arabia. The company has also created a substation training program that includes voice-overs from actual field employees, as well as interactive knobs and gauges. Simulation training may benefit both employers and employees, as trainees can review procedures repeatedly without the dangers of personal injury or equipment failure. Entry modules can include helpful hints and guidelines while certification modules will grade for behaviour and quality of work performed without system help. However, although simulation technology may help the safety level and proficiency of workers, it represents only a fraction of what workers will need to know before working on an actual service rig. It was concluded that any move to incorporate new simulation training programs within current interactive training programs will need to be driven by industry. 4 figs.

  19. Perspectives of the global steam coal market: the COALMOD-World model; Perspektiven des globalen Kesselkohlemarktes. Das COALMOD-World-Modell

    Energy Technology Data Exchange (ETDEWEB)

    Haftendorn, Clemens; Holz, Franziska; Winke, Tim; Hirschhausen, Christian von [Deutsches Institut fuer Wirtschaftsforschung, Berlin (Germany). Abt. Energie, Verkehr und Umwelt

    2012-03-15

    The global steam coal market has undergone drastic change over the past ten years due to growing demand, flexibilisation of trade conditions and intensified stock exchange trading. An equilibrium model called COALMOD-World is now available for simulating the national and global steam coal market over several periods and analysing future market developments. For this purpose the model maps the international seaborne steam coal trade as well as the relevant national markets. It calculates annual market equilibria, thus permitting regionally specific forecasts on trade coal quantities and prices up the year 2030.

  20. OIL MARKET, NUCLEAR ENERGY CONSUMPTION AND ECONOMIC GROWTH: EVIDENCE FROM EMERGING ECONOMIES

    Directory of Open Access Journals (Sweden)

    Hanan Naser

    2014-04-01

    Full Text Available This paper empirically examines the relationship between oil consumption, nuclear energy consumption, oil price and economic growth in four emerging economies (Russia, China, South Korea, and India over the period from 1965 to 2010. Applying a modified version of the granger causality test developed by Toda and Yamamoto, we find that the level of world crude oil prices (WTI plays a crucial role in determining the economic growth in the investigated countries. The results suggest that there is a unidirectional causality running from real GDP to oil consumption in China and South Korea, while bidirectional relationship between oil consumption and real GDP growth appears in India. Furthermore, the results propose that while nuclear energy stimulates economic growth in both South Korea and India, the rapid increase in China economic growth requires additional usage of nuclear energy.

  1. Consuming the world's energy: Update series. Energy efficiency trends in oil countries

    Energy Technology Data Exchange (ETDEWEB)

    1992-02-28

    This issue of Energy Detente addresses energy efficiency in selected oil producing countries over time and compare the varying effects of important crude oil price changes. As economies around the world heighten their benefits from conservation and efficient use of energy, oil producers will be crucial examples not only for their own sakes, but for consuming countries dependent upon their exports. In this sense, their potential for leadership and vision seems greater than ever. Specifically, 6 oil-exporting countries are featured: Australia, Kuwait, Indonesia, Nigeria, the United Kingdom, and Venezuela. This issue also presents the following: (1) the ED Refining Netback Data Series for the US Gulf and West Coasts, Rotterdam, and Singapore as of February 21, 1992; and (2) the ED Fuel Price/Tax Series for countries of the Eastern Hemisphere, February, 1992 edition.

  2. Crude oil market efficiency and modeling. Insights from the multiscaling autocorrelation pattern

    Energy Technology Data Exchange (ETDEWEB)

    Alvarez-Ramirez, Jose [Departamento de Ingenieria de Procesos e Hidraulica, Universidad Autonoma Metropolitana-Iztapalapa, Apartado Postal 55-534, Mexico D.F., 09340 (Mexico); Departamento de Economia, Universidad Autonoma Metropolitana-Iztapalapa, Apartado Postal 55-534, Mexico D.F., 09340 (Mexico); Alvarez, Jesus [Departamento de Ingenieria de Procesos e Hidraulica, Universidad Autonoma Metropolitana-Iztapalapa, Apartado Postal 55-534, Mexico D.F., 09340 (Mexico); Solis, Ricardo [Departamento de Economia, Universidad Autonoma Metropolitana-Iztapalapa, Apartado Postal 55-534, Mexico D.F., 09340 (Mexico)

    2010-09-15

    Empirical research on market inefficiencies focuses on the detection of autocorrelations in price time series. In the case of crude oil markets, statistical support is claimed for weak efficiency over a wide range of time-scales. However, the results are still controversial since theoretical arguments point to deviations from efficiency as prices tend to revert towards an equilibrium path. This paper studies the efficiency of crude oil markets by using lagged detrended fluctuation analysis (DFA) to detect delay effects in price autocorrelations quantified in terms of a multiscaling Hurst exponent (i.e., autocorrelations are dependent of the time scale). Results based on spot price data for the period 1986-2009 indicate important deviations from efficiency associated to lagged autocorrelations, so imposing the random walk for crude oil prices has pronounced costs for forecasting. Evidences in favor of price reversion to a continuously evolving mean underscores the importance of adequately incorporating delay effects and multiscaling behavior in the modeling of crude oil price dynamics. (author)

  3. Market entry mode and competency building of Western oil companies in the Russian up stream oil and gas industry

    Science.gov (United States)

    Stephenson, Paul M.

    This dissertation investigated the market entry and competency building strategies within the context of the Russian oil and gas industry. The study was designed to be of interest to business practitioners and academics given the growing importance of fossil fuel in the energy balance of the global economy and the importance of Russia as a supplier and purchaser in the international market. The study's mixed methodology provides an understanding on the environmental factors that are postulated to impact foreign direct investment flow into Russia and the oil and gas sector. A case study of a fictitiously named Western-Russo oil company was conducted to provide a deep understanding of how capability is viewed by Russian and Western employees and the factors that influences the implementation of a successful competency development program. The case was centered on the development of a Well-Site supervisor group within a Western-Russian oil company. Findings of the study showed that there was no correlation between corruption and foreign direct investment inflow into the Russian economy. The findings also showed that both Russian and Western employees in the oil and gas industry are less focused on nontechnical competency development issues, that Western employees are more orientated towards the bottom-line than Russian employees, and that both groups see operational management as a core competency. In the area of financial management and technology application, there were significant differences in the viewpoint of both groups. Western employees saw a stronger need for financial management and less need for technology application when compared to their Russian counterparts. The results have implications for Western business contemplating entering the Russian oil and gas industry. Western firms need to understand the key drivers that will help them overcome the social and cultural barriers between Western and Russian employees. The role of the company leader is very

  4. Study of the competitive viability of minority fuel oil marketers. Final report

    Energy Technology Data Exchange (ETDEWEB)

    None

    1981-09-30

    Previous studies on the competitive viability of the fuel oil heating market had addressed some of the unique problems facing minority fuel oil marketers (MFMs) within the total market sector (TMS). This study focused on identifying and developing quantitative information on MFMs in the TMS. The specific objective was to determine whether the business problems experienced by MFMs were directly related to their minority status or were characterstic of any firm in the TMS operating under comparable conditions. As an overall conclusion, thorough investigation of the MFMs considered to constitute the universe of minoriy firms within the TMS did not reveal any evidence of overt discrimination affecting the competitive viability of MFMs. Upon analysis, the problems reported by MFMs could not be reasonably ascribed to discrimination on the basis of their minority business status. The study, however, did point up problems unique to MFMs as the result of typical operational and financial characteristics. For example, MFMs, compared to the TMS norm, have not been in the market as long and are smaller in terms of total assets, number of employees, number of trucks, number of accounts and annual volume of oil delivered. Their primary customers are low-income families in urban areas. Financial indicators suggest that the average MFM does not have long-term financial stability. The basis for this overall conclusion, derived by analyses of information from MFMs, as well as many independent sources, is summarized in three parts: (1) MFM industry profile; (2) financial analyses; and (3) problem analyses.

  5. Employment relations and global health: a typological study of world labor markets.

    Science.gov (United States)

    Chung, Haejoo; Muntaner, Carles; Benach, Joan

    2010-01-01

    In this study, the authors investigate the global labor market and employment relations, which are central building blocks of the welfare state; the aim is to propose a global typology of labor markets to explain global inequalities in population health. Countries are categorized into core (21), semi-peripheral (42), and peripheral (71) countries, based on gross national product per capita (Atlas method). Labor market-related variables and factors are then used to generate clusters of countries with principal components and cluster analysis methods. The authors then examine the relationship between the resulting clusters and health outcomes. The clusters of countries are largely geographically defined, each cluster with similar historical background and developmental strategy. However, there are interesting exceptions, which warrant further elaboration. The relationship between health outcomes and clusters largely follows the authors' expectations (except for communicable diseases): more egalitarian labor institutions have better health outcomes. The world system, then, can be divided according to different types of labor markets that are predictive of population health outcomes at each level of economic development. As is the case for health and social policies, variability in labor market characteristics is likely to reflect, in part, the relative strength of a country's political actors.

  6. A theory of planning horizons (1: market design in a post-neoclassical world

    Directory of Open Access Journals (Sweden)

    Frederic B. Jennings, Jr.

    2012-05-01

    Full Text Available The neoclassical case supporting competitive frames and market solutions has failed to promote stable world-wide economic development. Other approaches in economics incorporate social culture, increasing returns, market power, ecological limits and complementarity, yielding broader applications for development theory. In this paper a theory of planning horizons is introduced to raise some meaningful questions about the traditional view with respect to its substitution, decreasing returns and independence assumptions. Suppositions of complementarity, increasing returns and interdependence suggest that competition is inefficient by upholding a myopic culture resistant to learning. Growth – though long believed to rise from markets and competitive values – may not derive from these sources. Instead, as civilizations advance, shifting from material wants to higher-order intangible output, they evolve from market tradeoffs (substitution and scarcity into realms of common need (complementarity and abundance. The policy implications of horizonal theory are explored, with respect to regulatory aims and economic concerns. Such an approach emphasizes strict constraints against entry barriers, ecological harm, market power abuse and ethical lapses. Social cohesion – not competition – is sought as a means to extend horizons and thereby increase efficiency, equity and ecological health. The overriding importance of horizon effects for regulatory assessment dominates other orthodox standards in economics and law. Reframing economics along horizonal lines suggests some meaningful insight on the proper design of economic systems.

  7. Early warning model based on correlated networks in global crude oil markets

    Science.gov (United States)

    Yu, Jia-Wei; Xie, Wen-Jie; Jiang, Zhi-Qiang

    2018-01-01

    Applying network tools on predicting and warning the systemic risks provides a novel avenue to manage risks in financial markets. Here, we construct a series of global crude oil correlated networks based on the historical 57 oil prices covering a period from 1993 to 2012. Two systemic risk indicators are constructed based on the density and modularity of correlated networks. The local maximums of the risk indicators are found to have the ability to predict the trends of oil prices. In our sample periods, the indicator based on the network density sends five signals and the indicator based on the modularity index sends four signals. The four signals sent by both indicators are able to warn the drop of future oil prices and the signal only sent by the network density is followed by a huge rise of oil prices. Our results deepen the application of network measures on building early warning models of systemic risks and can be applied to predict the trends of future prices in financial markets.

  8. Market potential of solar thermal enhanced oil recovery-a techno-economic model for Issaran oil field in Egypt

    Science.gov (United States)

    Gupta, Sunay; Guédez, Rafael; Laumert, Björn

    2017-06-01

    Solar thermal enhanced oil recovery (S-EOR) is an advanced technique of using concentrated solar power (CSP) technology to generate steam and recover oil from maturing oil reservoirs. The generated steam is injected at high pressure and temperature into the reservoir wells to facilitate oil production. There are three common methods of steam injection in enhanced oil recovery - continuous steam injection, cyclic steam stimulation (CSS) and steam assisted gravity drainage (SAGD). Conventionally, this steam is generated through natural gas (NG) fired boilers with associated greenhouse gas emissions. However, pilot projects in the USA (Coalinga, California) and Oman (Miraah, Amal) demonstrated the use of S-EOR to meet their steam requirements despite the intermittent nature of solar irradiation. Hence, conventional steam based EOR projects under the Sunbelt region can benefit from S-EOR with reduced operational expenditure (OPEX) and increased profitability in the long term, even with the initial investment required for solar equipment. S-EOR can be realized as an opportunity for countries not owning any natural gas resources to make them less energy dependent and less sensible to gas price fluctuations, and for countries owning natural gas resources to reduce their gas consumption and export it for a higher margin. In this study, firstly, the market potential of S-EOR was investigated worldwide by covering some of the major ongoing steam based EOR projects as well as future projects in pipeline. A multi-criteria analysis was performed to compare local conditions and requirements of all the oil fields based on a defined set of parameters. Secondly, a modelling approach for S-EOR was designed to identify cost reduction opportunities and optimum solar integration techniques, and the Issaran oil field in Egypt was selected for a case study to substantiate the approach. This modelling approach can be consulted to develop S-EOR projects for any steam flooding based oil

  9. Toxicity testing of dispersed oil requires adherence to standardized protocols to assess potential real world effects.

    Science.gov (United States)

    Coelho, Gina; Clark, James; Aurand, Don

    2013-06-01

    Recently, several researchers have attempted to address Deepwater Horizon incident environmental fate and effects issues using laboratory testing and extrapolation procedures that are not fully reliable measures for environmental assessments. The 2013 Rico-Martínez et al. publication utilized laboratory testing approaches that severely limit our ability to reliably extrapolate such results to meaningful real-world assessments. The authors did not adopt key methodological elements of oil and dispersed oil toxicity standards. Further, they drew real-world conclusions from static exposure tests without reporting actual exposure concentrations. Without this information, it is not possible to compare their results to other research or real spill events that measured and reported exposure concentrations. The 1990s' Chemical Response to Oil Spills: Ecological Effects Research Forum program was established to standardize and conduct exposure characterization in oil and dispersed oil aquatic toxicity testing (Aurand and Coelho, 2005). This commentary raises awareness regarding the necessity of standardized test protocols. Copyright © 2013 Elsevier Ltd. All rights reserved.

  10. Interdependence between crude oil and world food prices: A detrended cross correlation analysis

    Science.gov (United States)

    Pal, Debdatta; Mitra, Subrata K.

    2018-02-01

    This article explores the changing interdependence between crude oil and world food prices at varying time scales using detrended cross correlation analysis that would answer whether the interdependence (if any) differed significantly between pre and post-crisis period. Unlike the previous studies that exogenously imposed break dates for dividing the time series into sub-samples, we tested whether the mean of the crude oil price changed over time to find evidence for structural changes in the crude oil price series and endogenously determine three break dates with minimum Bayesian information criterion scores. Accordingly, we divided the entire study period in four sample periods - January 1990 to October 1999, November 1999 to February 2005, March 2005 to September 2010, and October 2010 to July 2016, where the third sample period coincided with the period of food crisis and enabled us to compare the fuel-food interdependence across pre-crisis, during the crisis, and post-crisis periods. The results of the detrended cross correlation analysis extended corroborative evidence for increasing positive interdependence between the crude oil price and world food price index along with its sub-categories, namely dairy, cereals, vegetable oil, and sugar. The article ends with the implications of these results in the domain of food policy and the financial sector.

  11. World energy markets and uncertainty to the year 2100: implications for greenhouse policy

    Energy Technology Data Exchange (ETDEWEB)

    Thorpe, S.; Sterland, B.; Jones, B.P.; Wallace, N.A.; Pugsley, S.-A.

    1991-01-01

    This study analyses the implications for long run world and regional economic growth and energy markets of possible international action to counter the enhanced greenhouse effect and examines the design of effective policy responses acceptable to all nations. The implications for energy trade of greenhouse policy responses will be of considerable importance to Australia, a major energy exporter. The main issue examined is the effect of responses to climate change directed at the energy sector on energy markets and economic growth. Regional and global economic growth and energy demands under various policy responses were simulated using a long run partial equilibrium model of world energy markets and fossil fuel pollution. It is concluded that the consequences of the enhanced greenhouse effect are surrounded by uncertainty, which creates problems in the design of a policy regime. The effectiveness of a carbon tax increases with greater international cooperation. The effect of carbon taxes is to encourage switching from fossil fuels to renewable and nuclear technologies rather than to reduce energy consumption or economic growth. New technology to improve the efficiency of power generation from coal, could by reducing costs and promoting fuel switching to coal, actually increase CO{sub 2} emissions. 40 refs., 10 figs., 30 tabs

  12. Contraceptive social marketing in the third world: a case of multiple transfer.

    Science.gov (United States)

    Luthra, R

    1991-01-01

    A researcher conducted a case study of the Family Planning Social Marketing Project (FPSMP) in Bangladesh between 1974-1987 to point out the irreducible qualitative differences between the commercial and social contexts and between the developed and developing world. The research consisted of interviews with chief personnel of the technical assistance contractor Population Services International (PSI), project documentation, a review of marketing principles and methods, and summary reports on contraceptive social marketing projects in various countries. FPSMP, a vertical marketing organization, marketed 3 condom brands, 2 oral contraceptive brands, and 1 vaginal foam tablet. At least 70% of the advertising budget was allocated for conventional media (television [TV], radio, and newspapers), even though the poor and illiterate target population did not own a radio or TV and could not read a newspaper. In fact, conventional media were basically accessible to the urban elite. A PSI leader defended the use of conventional media because opinion leaders (urban elite) exert considerable influence on the population so they must receive the family planning messages in order to support family planning. Yet this assumption had not been tested, but was based on the experience of technical assistance contractors from previous projects in developing countries. Moreover, FPSMP based acceptability of message content on the elite's definition and not on the definition of the target group. Its information strategy included emphasis on the sales indicator and the creation of positive product associations while downplaying information about side effects and contraindications. This indicated that FPSMP did not consider client health and well being as important. Another issue was the need to satisfy USAID and the government. More research on other social marketing projects is needed.

  13. Impact of the Keystone XL pipeline on global oil markets and greenhouse gas emissions

    Science.gov (United States)

    Erickson, Peter; Lazarus, Michael

    2014-09-01

    Climate policy and analysis often focus on energy production and consumption, but seldom consider how energy transportation infrastructure shapes energy systems. US President Obama has recently brought these issues to the fore, stating that he would only approve the Keystone XL pipeline, connecting Canadian oil sands with US refineries and ports, if it `does not significantly exacerbate the problem of carbon pollution'. Here, we apply a simple model to understand the implications of the pipeline for greenhouse gas emissions as a function of any resulting increase in oil sands production. We find that for every barrel of increased production, global oil consumption would increase 0.6 barrels owing to the incremental decrease in global oil prices. As a result, and depending on the extent to which the pipeline leads to greater oil sands production, the net annual impact of Keystone XL could range from virtually none to 110 million tons CO2 equivalent annually. This spread is four times wider than found by the US State Department (1-27 million tons CO2e), who did not account for global oil market effects. The approach used here, common in lifecycle analysis, could also be applied to other pending fossil fuel extraction and supply infrastructure.

  14. Analysis Of The Structure And Performance Of Palm Oil Marketing In ...

    African Journals Online (AJOL)

    Analysis Of The Structure And Performance Of Palm Oil Marketing In Edo State, Nigeria. ... An R2 of 0.743 result of the analysis connotes that 74% of the variation in gross margin which is the dependent variable is explained by changes in the independent variable. The result of the F – value (F = 27.69; p<0.05) indicated ...

  15. United States foreign oil policy since World War 1 : for profits and security. 2 ed.

    Energy Technology Data Exchange (ETDEWEB)

    Randall, S.J.

    2005-07-01

    This book provided a historical context for United States global oil politics, with a focus on the goals, accomplishments and challenges of United States foreign oil policy, as well as on the relationship between the state and private sectors. This second edition has integrated developments in global politics since the end of the Cold War. It was suggested that many factors have provided the context for oil policy formation: a succession of crises in Iran since the 1950s; 2 wars in Iraq; U.S. intervention in Afghanistan; the threat of international terrorism since September 11, 2001; ongoing conflicts between Israel and the Arab nations in the Middle East; political instability in Saudi Arabia and in Venezuela and the trend towards trade and investment liberalization in Latin America in the 1990s. In addition, the emergence of oil sands reserves in Canada and other sources of non-conventional oil were discussed. Nationalism and oil policies in the Depression and World War 2 were examined. The structure of decision-making in oil policies was examined. Domestic and offshore resources were reviewed, and an outline of international agreements and relationships was presented. Issues concerning OPEC countries and the Iranian Revolution were examined. It was concluded that the United States has become more and not less vulnerable, despite its military strength. The author suggested that the main policy challenge to the United States may well be the tension between its commitment to Israel and its determination to avoid alienating the Arab oil-producing states. refs., tabs., figs.

  16. Why the developing world is the perfect market place for solid state lighting

    Science.gov (United States)

    Schultz, Christoph; Platonova, Inna; Doluweera, Ganesh; Irvine-Halliday, Dave

    2008-08-01

    Much has been written about the daily challenge for survival faced by countless millions of developing world families and the overdeveloped world has offered a number of solutions by which those at the base of the economic pyramid (BOP) can help themselves. Light Up The World (LUTW), the global leader in bringing Renewable Energy (RE) based Solid State Lighting (SSL) to the developing world, offers yet another solution, and one that comes with a very high probability of success. In this paper we discuss: the critical role played by micro credit (banking for the poor); a typical example of a developing world community and their lighting needs and expenditures; how SSL can contribute positively to all eight of the Millennium Development Goals; the micro and macroeconomics of SSL at the BOP, its numerous societal benefits and its potential perverse outcomes; and thought there will always be a role for the donation based model, it is only through the market model that safe, healthy and affordable SSL will reach the majority of the BOP, such are the staggering numbers involved. LUTW's fundamental goal, through the facilitation of RE based SSL, is to improve the quality of life of those, who through no fault of their own, find themselves trapped in a cycle of poverty.

  17. References in the Digital Age: Marketing and Services in Virtual Worlds

    Directory of Open Access Journals (Sweden)

    Octavia-Luciana Porumbeanu

    2008-01-01

    Full Text Available The digital age has brought major changes at the level of the reference services offered by libraries. The emergence of competition, represented by numerous organizations that also provide information services, has necessitated the reorganization of reference services so that they function according to the market laws. In this context marketing has become an essential tool for libraries. They must develop strategies to make sure that users will continue to ask for their services. The number of those attracted to online information services is growing and many traditional users of libraries may be encountered at present in virtual environments where the possibilities for communication and interaction, for sharing information and generating knowledge are clearly better. Many libraries have already taken the step towards the virtual world and offer now assistance and information services in environments such as Second Life where there are possible both games and educational activities.

  18. International wind energy development. World market update 2009. Forecast 2010-2014

    Energy Technology Data Exchange (ETDEWEB)

    2010-03-15

    This is the fifteenth edition of the annual World Market Update produced by BTM Consult ApS, and covers developments in the wind energy sector during 2009. As in previous editions, the report also assesses important changes over the last three years and forecasts progress for five years ahead. The special topic in this year's WMU is an evaluation of the aftermath of the COP-15 climate change negotiations in relation to future wind power development. The global market for wind power not only produced a record for new installations in 2009 of 38 GW installed capacity, it also created a new order in the balance of international wind power. The rapid increase in the rate of installations in both Asia and the US was already clear in 2008; that trend has continued at a faster pace in 2009. By far the largest number of new wind projects were seen in the US and China. Another new reality is that most of the world's manufacturing of wind turbines now takes place in China. As a result three Chinese companies are among the world's top ten turbine manufacturers. At the same time a rapid expansion of manufacturing capacity by European turbine makers has taken place in the US. Europe contributed 28.2% of the newly added capacity - 10,738 MW - taking the continent's total wind power generation capacity to 76,553 MW. The growth in Asia's markets has once again been staggering. With 14,991 MW of new installations, South and East Asia accounted for 39.4% of the global total in 2009. China was the major contributor, with 13,750 MW of new capacity, more than double that installed in 2008. In terms of cumulative installed wind power, the US is still the world leader, with 35,159 MW. China overtook Germany with a margin of less than 50 MW. China now has a total of 25,853 MW, followed by Germany's 25,813 MW. A new world order in wind power has become a reality. The forecast released in this WMU shows an average growth rate of 13.5% for the period 2010

  19. Alcohol marketing in the Americas and Spain during the 2014 FIFA World Cup Tournament.

    Science.gov (United States)

    Noel, Jonathan K; Babor, Thomas F; Robaina, Katherine; Feulner, Melissa; Vendrame, Alan; Monteiro, Maristela

    2017-01-01

    To identify the nature of visual alcohol references in alcohol advertisements during televised broadcasts of the 2014 FIFA World Cup Tournament matches and to evaluate cross-national differences according to alcohol marketing policy restrictiveness. Content analysis using the Delphi method and identification of in-game sponsorships. Television broadcasts of the 2014 FIFA World Cup in Argentina, Brazil, Canada, Finland, France, Mexico, Spain and the United States. Eighty-seven alcohol advertisements; 20 matches. Quantitative rating scales, combined with the Delphi rating technique, were used to determine compliance of the alcohol advertisements with the International Alliance for Responsible Drinking's (IARD) Guiding Principles. Recordings of five matches from four countries were also used to identify the number of in- and out-of-game alcohol brand appearances. A total of 86.2% of all unique alcohol advertisements contained at least one violation of IARD's Guiding Principles, with violation rates ranging from 72.7% (Mexico) to 100% (Brazil). Countries with the least restrictive marketing policies had a higher prevalence of violations in guidelines designed to protect minors. There were 2.76 in-game alcohol brand appearances and 0.83 out-of-game alcohol brand appearances per minute. Brand appearances did not differ across countries or according to a country's marketing policy restrictiveness. Self-regulation and statutory policies were ineffective at limiting alcohol advertising during the 2014 FIFA World Cup Tournament television broadcasts. Most advertisements contained content that violated the self-regulation codes, and there were high levels of within-broadcast brand appearances. © 2016 Society for the Study of Addiction.

  20. The world petroleum market in 2006. Analysis of the DIREM; Le marche petrolier mondial en 2006. Analyse de la DIREM

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    This analysis of the world petroleum market for the year 2006 shows the increase of the barrel price with the historical record of the 8 August 2006. It details then the highlights in the producer countries and the international subscriptions of the petroleum products on the Rotterdam market, the petroleum products prices in France. (A.L.B.)

  1. The Growth Prospects for the World Tire Market in the Short and Medium-Term

    Directory of Open Access Journals (Sweden)

    Florela Stoian

    2016-04-01

    Full Text Available The paper addresses the main aspects of the short and medium-term developments in the world market for motor vehicles tires, an industry which is related to the machine building industry, with the latter being seen as a barometer for the health of an economy. It analyzes the main trends in motor vehicles production worldwide during the years 2011-2014, and highlights the ranking of the ten largest tire manufacturing companies, as well as the outlook until 2025. The article contains also forecasts on the growth of this industry by regions.

  2. Oil and Beyond Expanding British Imperial Aspirations, Emerging Oil Capitalism, and the Challenge of Social Questions in the First World War

    NARCIS (Netherlands)

    Atabaki, Touraj; Ehsani, Kaveh; Bley, Helmut; Kremers, Anorthe

    2014-01-01

    With the onset of the First World War, the British state crafted a new strategy of shifting its industry, military and navel units from consuming coal to oil energy. This transition effectively turned Persian oil into a strategic military as well as economic resource of fundamental importance to the

  3. The role of Mexico in the first world oil shortage: 1918–1922, an international perspective

    OpenAIRE

    Rubio Varas, María del Mar

    2006-01-01

    In 1921 Mexico produced a quarter of the world’s petroleum, making the country the second largest producer in the world, but by 1930 it only accounted for 3 per cent of production. To date, the debate surrounding this decline has relied mainly on events taking place in Mexico. Very little attention has been paid to developments elsewhere in the petroleum industry, except in Venezuela. Practically no attention has been paid to the reasons for the rise of oil output in Mexico....

  4. International economic trade partners and competitions of the Russian on world agricultural market

    Directory of Open Access Journals (Sweden)

    Michail Ivanovich Maslennikov

    2011-12-01

    Full Text Available This paper analyses common and specific problems of international trade in Russia and its regions in agricultural sector, specific situation and methods of reformation, adaptation and modernization of the national and regional agricultural complexes, its resources base on the way to globalization processes in the world, including such forms of international trade of agricultural products and formation on this base of an industrial agricultural economics plus rate of the international agricultural trade expansion. Regions of Russia are quickly developing territories with very active integration into world economy system, having high tempo of economic rate growth and adaptation of the economy to specific situation and methods of diversification of the agricultural base resources; the analysis is made on agricultural production of international trade in such countries as China, the USA, the European Union, Argentina, Canada, India and Brazil while searching for new economic partners on international agricultural market.

  5. The domestic natural gas and oil initiative. Energy leadership in the world economy

    Energy Technology Data Exchange (ETDEWEB)

    1993-12-01

    Two key overarching goals of this Initiative are enhancing the efficiency and competitiveness of U.S. industry and reducing the trends toward higher imports. These goals take into account new Federal policies that reflect economic needs, including economic growth, deficit reduction, job creation and security, and global competitiveness, as well as the need to preserve the environment, improve energy efficiency, and provide for national security. The success of this Initiative clearly requires coordinated strategies that range far beyond policies primarily directed at natural gas and oil supplies. Therefore, this Initiative proposes three major strategic activities: Strategic Activity 1 -- increase domestic natural gas and oil production and environmental protection by advancing and disseminating new exploration, production, and refining technologies; Strategic Activity 2 -- stimulate markets for natural gas and natural-gas-derived products, including their use as substitutes for imported oil where feasible; and Strategic Activity 3 -- ensure cost-effective environmental protection by streamlining and improving government communication, decision making, and regulation. Finally, the Initiative will reexamine the costs and benefits of increase oil imports through a broad new Department of Energy study. This study will form the basis for additional actions found to be warranted under the study.

  6. Examining the Effect of World Price Transfer to Domestic Markets for Sensitive and Certain Agricultural Products in Iran

    Directory of Open Access Journals (Sweden)

    M. shabanzadeh

    2016-03-01

    Full Text Available Introduction: Agriculture as one of old sectors of economy has been important role in the supply food for peoples and raw materials. Globalization causes rapid growth of world trade and reduces information and communications costs. Globalization and rapid growth of trade increases the potential benefits of trade for agriculture from various aspects. The potential benefits of trade for agriculture increases from three aspects. Direct increase in the domain of agricultural sector activities for competition in the global market results in the benefits of access to global markets. This is especially true in cases where there is comparative advantage and the indirect effects of increased global trade on non-agricultural sectors that cause the domestic demand for food change from qualitative and quantitative aspects, are the benefits of this event. However, during the process of globalization, how to influence prices in different markets, including the impact of world prices on domestic prices is an important issue in trade policy analysis. During this process domestic prices are directly related to world prices. With this approach, the main objective of this study is to examine the effect of world price transfers to domestic markets for sensitive and certain agricultural products in Iran during 1360-91. Materials and Methods: To achieve this goal in this study, the Armington and the foreign currency elasticity of ten selected agricultural products in Iran including wheat, barley, rice, corn, soybean meal, vegetable oil (soybean and sunflower, sugar, eggs, poultry and beef, have been estimated and examined using Autoregressive Distribution lag Model (ARDL. In order to investigate speed of adjustment or in other words the speed of movement towards equilibrium, typically the error correction model (ECM is used. Existence of cointegration or in other words, long term relationship between a set of economic variables provide the basis for the use of error

  7. Recent Trends in the World Gas Market: Economical, Geopolitical and Environmental Aspects

    Directory of Open Access Journals (Sweden)

    Alessandro Toscano

    2016-02-01

    Full Text Available Natural gas is considered by energy experts to be the most promising fossil fuel for the 21st century, and as a matter of fact, the International Energy Agency (IEA introduced for the first time in the 2011 World Energy Outlook a high gas use scenario called the “Golden Age of Gas”. Natural gas is an easy to burn and clean fuel; its proven reserves are large and furthermore, enormous possibilities are offered by unconventional resources. There are anyway some geopolitical concerns in the global gas market, since the most important reserves are concentrated in a limited number of countries; the environmental impacts in the extraction of shale gas should also be taken into account. The paper presents an updated and thorough overview of recent advances and trends in the global gas market, highlighting the role of Europe in the World scenario. Statistical data from the main international reports are presented; economical, geopolitical and especially environmental aspects are presented and discussed.

  8. 75 FR 57016 - Top of the World Wind Energy, LLC; Supplemental Notice That Initial Market-Based Rate Filing...

    Science.gov (United States)

    2010-09-17

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF ENERGY Federal Energy Regulatory Commission Top of the World Wind Energy, LLC; Supplemental Notice That Initial Market... supplemental notice in the above-referenced proceeding of Top of the World Wind Energy, LLC's application for...

  9. ABOUT THE STATE OF THE WORLD WHEAT MARKET AT THE CURRENT STAGE

    Directory of Open Access Journals (Sweden)

    Pogorelyy M.U.

    2013-11-01

    Full Text Available The author considers the Phillips curve in the historical aspect. In the article there is a mention that there were examples when the Phillips curve was not confirmed. Then the author goes on to describe the post-crisis economic situation. The author refers to the food problem as a global problem, which has been designated in the papers of the Club of Rome. Then the author characterizes world wheat production for the period 2003-2013. The author gives an example that shows the volatility of the wheat market (CBOT. The author explains why he uses quotations of forward contracts, and not in the spot market. The author scrutinizes the quotations of CBOT wheat futures contracts in the paper. The author substantiates the need for an econometric model in the research process of futures CBOT wheat prices. The author justifies the chosen scientific approach that defines the methods of research and research model. The author uses econometric approach in the paper. The author uses linear regression as a method of the research. The author creates the equation of linear regression using the software. The author makes a conclusion that there is a certain linear relationship between the price of the futures contract CBOT wheat and the level of unemployment in the United States during the period. The author verifies the effect of Phillips curve. Results of this paper allow the analyst to make informed pricing decisions on the organized market of wheat trade in the medium term.

  10. Ground Handling Business at Non-European Biggest World Airports as a Problem of Market Structures

    Directory of Open Access Journals (Sweden)

    Anna Tomová

    2015-12-01

    Full Text Available In the paper we analyse the market structures of ground handling at the biggest non-European passenger and cargo airports in accordance with the ACI list of the most important world airports in 2014. Using the IATA IGHC database as of spring 2015, our analysis revealed that out of Europe double digit numbers of providers are rare what contrasts with situation in Europe where ground handling markets were deregulated by the Council Directive 96/67/EC. The analysis also brought that the monopolistic structures of ground handling markets were more specific for the regions of Asia and the Middle East. Airports as ground handling providers were not found within the analysed sample in North America, Latin America, Africa and Australia and Oceania, while this arrangement was to a larger extent present at the analysed Asian airports. Asia and the Middle East biggest airports are identified by us as candidates for further deregulation of ground handling arguing by forecasted demand for air services in the regions, although expected deregulation may be curbed by national regulators.

  11. Palm Oil Price, Exchange Rate, and Stock Market: A Wavelet Analysis on the Malaysian Market

    Directory of Open Access Journals (Sweden)

    Buerhan Saiti

    2014-05-01

    Full Text Available The study investigates causality between palm oil price, exchange rate and the Kuala Lumpur Composite Index (KLCI based on the theory of wavelets on the basis of monthly data from the period January 1990 - December 2012. This methodology enables us to identify that the causality between these economic variables at different time intervals. This wavelet decomposition also provides additional evidence to the “reverse causality” theory. We found that the wavelet cross-correlations between stock price and exchange rate skewed to the right at all levels with negative significant correlations which implies that the exchange rate leads the stock price. In the case of stock and commodity prices, there is no significant wavelet-crosscorrelation at first four levels. However, the wavelet cross-correlations skewed to the left at level 5 which implies that the stock price leads commodity price in the long-run. Finally, there is no significant wavelet cross-correlations at all levels as long as we concern between commodity price and exchange rate. It implies that there is no lead-lag relationship between commodity price and exchange rate.

  12. Analysis of crude oil markets with improved multiscale weighted permutation entropy

    Science.gov (United States)

    Niu, Hongli; Wang, Jun; Liu, Cheng

    2018-03-01

    Entropy measures are recently extensively used to study the complexity property in nonlinear systems. Weighted permutation entropy (WPE) can overcome the ignorance of the amplitude information of time series compared with PE and shows a distinctive ability to extract complexity information from data having abrupt changes in magnitude. Improved (or sometimes called composite) multi-scale (MS) method possesses the advantage of reducing errors and improving the accuracy when applied to evaluate multiscale entropy values of not enough long time series. In this paper, we combine the merits of WPE and improved MS to propose the improved multiscale weighted permutation entropy (IMWPE) method for complexity investigation of a time series. Then it is validated effective through artificial data: white noise and 1 / f noise, and real market data of Brent and Daqing crude oil. Meanwhile, the complexity properties of crude oil markets are explored respectively of return series, volatility series with multiple exponents and EEMD-produced intrinsic mode functions (IMFs) which represent different frequency components of return series. Moreover, the instantaneous amplitude and frequency of Brent and Daqing crude oil are analyzed by the Hilbert transform utilized to each IMF.

  13. Russian geological education in the world market (the case of Russian State Geological Prospecting University

    Directory of Open Access Journals (Sweden)

    Vasily Ivanovich Lisov

    2016-12-01

    Full Text Available Higher geological education in Russia and in MSGPI-RSGPU specific. It - engineering. The mineral deposits determine the development of the global industry and foreign trade. Growing global demand for the profession of geologists and mining engineers. Training of foreign students in Russia has its own geopolitical and economic importance. In Russia a strong resource-based economy. It attracts students from developing countries. MGRI-RSGPU is the leading universities training specialists for mining. The article presents data about the University and types of education. Shown scientific and educational problems in higher education. This article discusses the prospects for the promotion of Russian higher geological education at the world market of educational services. The increasing role of new scientific and technological achievements in mining, enhanced environmental as well as staff requirements is revealed. Given that the leading schools in the mining industry, in addition to Russia, are formed in Canada, Germany, USA, Australia, Great Britain, many developing countries rich in natural resources, have begun to form their own national centers for training in this area. Under such competitive conditions Russian geological education maintains its own niche. Recognition of this is the active participation of Russian universities in the creation and development of the World Forum of sustainable development of mineral universities (WFURS, described in the article. The main factors of competitiveness that led to leading positions of Russian State Geological Prospecting University in system of the Russian geological education are described. Particular attention is paid to the international activities of Russian higher educational institutions including Geological Prospecting University. The basic statistics (both in the context of the country, and in the field of foreign undergraduate and graduate students enrolled at this university is provided. The

  14. Portfolio Value at Risk Estimate for Crude Oil Markets: A Multivariate Wavelet Denoising Approach

    Directory of Open Access Journals (Sweden)

    Kin Keung Lai

    2012-04-01

    Full Text Available In the increasingly globalized economy these days, the major crude oil markets worldwide are seeing higher level of integration, which results in higher level of dependency and transmission of risks among different markets. Thus the risk of the typical multi-asset crude oil portfolio is influenced by dynamic correlation among different assets, which has both normal and transient behaviors. This paper proposes a novel multivariate wavelet denoising based approach for estimating Portfolio Value at Risk (PVaR. The multivariate wavelet analysis is introduced to analyze the multi-scale behaviors of the correlation among different markets and the portfolio volatility behavior in the higher dimensional time scale domain. The heterogeneous data and noise behavior are addressed in the proposed multi-scale denoising based PVaR estimation algorithm, which also incorporatesthe mainstream time series to address other well known data features such as autocorrelation and volatility clustering. Empirical studies suggest that the proposed algorithm outperforms the benchmark ExponentialWeighted Moving Average (EWMA and DCC-GARCH model, in terms of conventional performance evaluation criteria for the model reliability.

  15. Oil supply and demand

    Energy Technology Data Exchange (ETDEWEB)

    Rech, O

    2004-07-01

    World oil demand, driven by economic development in China, posted the highest growth rate in 20 years. In a context of geopolitical uncertainty, prices are soaring, encouraged by low inventory and the low availability of residual production capacity. Will 2004 bring a change in the oil market paradigm? (author)

  16. U.S. Geological Survey Assessment 2000: Estimates of undiscovered oil and gas resources for the world

    Science.gov (United States)

    Ahlbrandt, T.S.; Whitney, G.

    2000-01-01

    Worldwide supply of oil and natural gas is ultimately linked to the geologic abundance and distribution of those fossil fuels. The U.S. Geological Survey (USGS) has completed a new assessment of the technically recoverable undiscovered oil and gas resources of the world. Nearly 1000 provinces were defined and known petroleum resources exist in 406 of these. A total of 76 priority provinces, containing over 95 percent of the world's known oil and gas, and 52 'boutique', or prospective, provinces were assessed. Based upon our initial analyses, several observations are clear. First, our estimates of total undiscovered technically recoverable petroleum (oil, natural gas, natural gas liquids) resources do not differ greatly (+9.5 percent) from the world totals determined in the 1994 USGS world assessment. However, our estimates of undiscovered oil are up considerably (+24.3 percent), and the regional distribution differs significantly from previous estimates. Secondly, estimates of global undiscovered natural gas resources are smaller than previously estimated (-10.4 percent), largely due to reduced estimates for the former Soviet Union, and natural gas liquids resources are significantly larger than previous estimates because co-product ratio calculations were included in this assessment. In addition, mean estimates of field growth of known oil and gas fields will likely approximate quantities of undiscovered resources and are a critical component of any analysis of world oil and gas supply.

  17. The spatiotemporal dynamic analysis of the implied market information and characteristics of the correlation coefficient matrix of the international crude oil price returns

    Energy Technology Data Exchange (ETDEWEB)

    Tian, Lixin [Jiangsu University, Energy Development and Environmental Protection Strategy Research Center, Zhenjiang, Jiangsu (China); Nanjing Normal University, School of Mathematical Sciences, Nanjing, Jiangsu (China); Ding, Zhenqi; Zhen, Zaili [Jiangsu University, Energy Development and Environmental Protection Strategy Research Center, Zhenjiang, Jiangsu (China); Wang, Minggang [Nanjing Normal University, School of Mathematical Sciences, Nanjing, Jiangsu (China)

    2016-08-15

    The international crude oil market plays a crucial role in economies, and the studies of the correlation, risk and synchronization of the international crude oil market have important implications for the security and stability of the country, avoidance of business risk and people's daily lives. We investigate the information and characteristics of the international crude oil market (1999-2015) based on the random matrix theory (RMT). Firstly, we identify richer information in the largest eigenvalues deviating from RMT predictions for the international crude oil market; the international crude oil market can be roughly divided into ten different periods by the methods of eigenvectors and characteristic combination, and the implied market information of the correlation coefficient matrix is advanced. Secondly, we study the characteristics of the international crude oil market by the methods of system risk entropy, dynamic synchronous ratio, dynamic non-synchronous ratio and dynamic clustering algorithm. The results show that the international crude oil market is full of risk. The synchronization of the international crude oil market is very strong, and WTI and Brent occupy a very important position in the international crude oil market. (orig.)

  18. Flow behaviour of multigrade oils, exemplified by engine oils of the German market. Fliessverhalten von Mehrbereichsmotorenoelen - dargestellt an Motorenoelen des deutschen Marktes

    Energy Technology Data Exchange (ETDEWEB)

    Bartz, W.J.

    1991-05-01

    In a market analysis, the flow behaviour of German multigrade oils was tested. The results of this test can be summarized as follows: Individual multigrade oils of the German market have a viscosity position that is too low at high temperatures for the stated SAE classification, whilst being too high at low temperatures. Naturally, the vast majority of multigrade ols fulfil all the viscosity requirements of the SAE classification as well as the CCMC specification. In each oil group there are representatives that have an especially optimal formulation, as well as representatives with a preponderance of negative characteristics. Those oils are considered to be good, which are characterised by low deep-temperature viscosities and, at the same time, high high-temperature viscosities. Those oils with an especially optimum formulation, were those with good low and high-temperature behaviour as well as being especially shear stabile and having a low evaporative loss. In absolute terms, no such oils were found. In relative terms, with such an overall assessment there are in each group oils which appear to have a more optimal formulation than other oils in the same group. (orig.).

  19. Cross-correlations between the US monetary policy, US dollar index and crude oil market

    Science.gov (United States)

    Sun, Xinxin; Lu, Xinsheng; Yue, Gongzheng; Li, Jianfeng

    2017-02-01

    This paper investigates the cross-correlations between the US monetary policy, US dollar index and WTI crude oil market, using a dataset covering a period from February 4, 1994 to February 29, 2016. Our study contributes to the literature by examining the effect of the US monetary policy on US dollar index and WTI crude oil through the MF-DCCA approach. The empirical results show that the cross-correlations between the three sets of time series exhibit strong multifractal features with the strength of multifractality increasing over the sample period. Employing a rolling window analysis, our empirical results show that the US monetary policy operations have clear influences on the cross-correlated behavior of the three time series covered by this study.

  20. Dynamic Relationship between Crude Oil Price, Exchange Rate and ...

    African Journals Online (AJOL)

    DrNneka

    stock market performance (Adebiyi et al., 2009). This study contributed to the study of linkage between crude oil price movements, exchange rate behaviour and stock market performance of African oil-exporting countries. The increased integration of financial markets in the world today provides investors with new ways to ...

  1. Oil supply and demand

    Energy Technology Data Exchange (ETDEWEB)

    Rech, O

    2006-07-01

    The year 2004 saw a change in the oil market paradigm that was confirmed in 2005. Despite a calmer geopolitical context, prices continued to rise vigorously. Driven by world demand, they remain high as a result of the saturation of production and refining capacity. The market is still seeking its new equilibrium. (author)

  2. Forecasting crude oil market volatility. Further evidence using GARCH-class models

    Energy Technology Data Exchange (ETDEWEB)

    Wei, Yu; Huang, Dengshi [School of Economics and Management, Southwest Jiaotong University (China); Wang, Yudong [Antai College of Economics and Management, Shanghai Jiaotong University (China)

    2010-11-15

    This paper extends the work of Kang et al. (2009). We use a greater number of linear and nonlinear generalized autoregressive conditional heteroskedasticity (GARCH) class models to capture the volatility features of two crude oil markets - Brent and West Texas Intermediate (WTI). The one-, five- and twenty-day out-of-sample volatility forecasts of the GARCH-class models are evaluated using the superior predictive ability test and with more loss functions. Unlike Kang et al. (2009), we find that no model can outperform all of the other models for either the Brent or the WTI market across different loss functions. However, in general, the nonlinear GARCH-class models, which are capable of capturing long-memory and/or asymmetric volatility, exhibit greater forecasting accuracy than the linear ones, especially in volatility forecasting over longer time horizons, such as five or twenty days. (author)

  3. Derivative markets, speculation and oil prices; Marches derives, speculation et prix du petrole

    Energy Technology Data Exchange (ETDEWEB)

    Babusiaux, D. [Institut Francais du Petrole - IFP School, 92 - Rueil Malmaison (France); Lasserre, F. [Recherche matieres premieres, Societe Generale (France); Pierru, A. [Institut Francais du Petrole - IFP, Energies nouvelles, 92 - Rueil Malmaison (France)

    2010-09-15

    Recent movements in oil prices have been ascribed by a number of analysts and political leaders not to market fundamentals but to the speculative positions taken by financial investors in derivatives markets. Various economists including Nobel Prize Paul Krugman believe however that the constitution of stocks is a necessary element for speculation, a feature that was not very evident during the sudden price increase in 2008; but these points of view are not entirely incompatible. Various explanations can be put forward, among which the most important is demand inertia. On the very short run, demand price elasticity is significantly lower than that usually calculated for the short term, which can significantly reduce the impact - on stocks - of a temporary price increase provoked by financial investors' behavior. (authors)

  4. The world merger and acquisition market: economic dimensions and specifics of regulation

    Directory of Open Access Journals (Sweden)

    Oxana Davydovych

    2007-01-01

    Full Text Available The article presents a comprehensive analysis of the world mergers and acquisitions (M&A market, describing its stages of evolution and examining the trends and specific features of development at different stages. The author identifies the motives of mergers and acquisitions, determines their impact on the economy, makes an attempt at revealing the main reasons for failed M&A deals, analyzes the specifics of regulating mergers in the European Union countries, and describes their main requirements. The article also evaluates the development of the M&A processes in Central and Eastern Europe, in particular Ukraine. In conclusion, the author offers recommendations for the successful operation of companies after their merger or acquisition and considers the factors of the M&A market’s positive dynamics at the current stage.

  5. Model or Myopia? Exploiting Water Markets to Address Population and Drought Risks in a Changing World

    Science.gov (United States)

    Reed, P. M.

    2012-12-01

    Climate change, population demands, and evolving land-use represent strong risks to the sustainable development and stability of world-wide urban water supplies. There is a growing consensus that non-structural supply management instruments such as water markets have significant potential to reduce the risks and vulnerabilities in complex urban water systems. This paper asks a common question, what are the tradeoffs for a city using water market supply instruments?. This question emerges quickly in policy and management, but its answer is deceptively difficult to attain using traditional planning tools and management frameworks. This research demonstrates new frameworks that facilitate rapid evaluation of hypotheses on the reliability, resiliency, adaptability, and cost-effectiveness of urban water supply systems. This study considers a broader exploration of the issues of "nonstationarity" and "uncertainty" in urban water planning. As we invest in new information and prediction frameworks for the coupled human-natural systems that define our water, our problem definitions (i.e., objectives, constraints, preferences, and hypotheses) themselves evolve. From a formal mathematical perspective, this means that our management problems are structurally uncertain and nonstationary (i.e., the definition of optimality changes across regions, times, and stakeholders). This uncertainty and nonstationarity in our problem definitions needs to be more explicitly acknowledged in adaptive management and integrated water resources management. This study demonstrates the potential benefits of exploring these issues in the context of a city in the Lower Rio Grande Valley (LRGV) of Texas, USA determining how to use its regional water market to manage population and drought risks.

  6. International wind energy development. World market update 1996. Forecast 1997-2001

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-03-01

    It is intended topublish and update this report `International Wind Power Development - Market Update 1996` every year in March. The latest issue was published in December of 1995 by BTM Consult ApS. Market data for demand side does normally, where it has been possible, only include installed wind turbines which has been connected to the grid during 1996. Supply side data is based on collected information (reference lists) from the 12-15 largest wind turbine manufacturers in the world. Due to these circumstances there are some conflicts between demand side and supply side data. Another important factor is that all wind turbine manufacturers do not use the same methodology when they are making their reference lists. Some manufacturers include only installed and operating wind turbines, while others include all units shipped from the factory. This is another conflict that might cause some differences in the data. Lately another new issue has been added to the list of uncertain factors, which is: is a Nordex Balcke-Duerr wind turbine Danish or German? And is a Gamesa Eolica wind turbine Danish or Spanish? etc. To minimize annual variations, this report includes the last 3 years data for the largest markets and wind turbine manufacturers. The prognosis includes data for the next 5 years until the year 2001, and an estimate has also been included for development until the year 2005. This version of the report can be found on internet web-pages: http://home4.inet.tele.dk/btmcwind/index.html. (EG)

  7. Food marketing to children in India: comparative review of regulatory strategies across the world.

    Science.gov (United States)

    Bhatnagar, Nidhi; Kaur, Ravneet; Dudeja, Puja

    2014-11-01

    Food marketing directed to children is an issue of concern in the present day society. Revolution in food industry, increasing globalization and boom in information technology has introduced various types of food products and the way they are placed in front of likely consumers. This has resulted in rising trend of obesity and switch from communicable to non-communicable diseases, which is not cost effective for nation as a whole. Multinational companies have targeted children as a naïve audience to boost their sales. In-ethical practice of misleading claims in the advertisements is instrumental in many cases. Food marketing to children has been assumed a public health threat since times of yore. World Health Organization has resolutions and recommendations on this subject. Member countries, including India are a signatory to this declaration. However, much needs to be done to counter these multinational food giants. Regulations and policies need to be enforced at national and institutional levels. Parents must be educated; schools and social organizations to be made proactive on this aspect.

  8. USGS world petroleum assessment 2000; new estimates of undiscovered oil and natural gas, including reserve growth, outside the United States

    Science.gov (United States)

    ,

    2000-01-01

    Oil and natural gas account for approximately 63 percent of the world’s total energy consumption. The U.S. Geological Survey periodically estimates the amount of oil and gas remaining to be found in the world. Since 1981, each of the last four of these assessments has shown a slight increase in the combined volume of identified reserves and undiscovered resources. The latest assessment estimates the volume of technically recoverable conventional oil and gas that may be added to the world's reserves, exclusive of the United States, in the next 30 years. The USGS World Petroleum Assessment 2000 reports an increase in global petroleum resources, including a 20-percent increase in undiscovered oil and a 14-percent decrease in undiscovered natural gas compared to the previous assessment (table 1). These results have important implications for energy prices, policy, security, and the global resource balance.

  9. Assessment of the Impact of the Changes in the Situation of the World Markets on the Regional Processes

    Directory of Open Access Journals (Sweden)

    Kseniya Valeryevna Yekimova

    2016-09-01

    Full Text Available This article describes the issues of the influence of world economy on the development of regional processes. The nature of the dependence of the modern domestic economy on the trends of the world raw material markets is considered. The heterogeneity of the regional processes to the changes of the world environment indicators is revealed. The channels of the influence of the world market trends changes on the regional processes are investigated. The analysis of the world economy indicators has allowed to create a system of basic indicators whose change reflects the tendencies of the world economy. The offered methodological approach to the assessment of the reaction of the regional processes to the changes in the world market trends is based on the economic cycle concept. The methodological tools include the maps of the time shifts allowing to define the time lag of the retardation of the reaction of certain regional processes to the changes in world economy; the model of the evaluation of the influence of the world economy indicators on the regional process, based on the correlation analysis; the differential matrix of the reactions of regional processes to the changes in world market trends, which enables to group them according to the reaction speed and its value. The authors present the fundamental recommendations for the regional processes management based on the world market dynamics analysis. The approbation of the methodological tools was carried out in the terms of the “Consumer prices level changes” and covered the regional process across 83 regions of Russia. They were classified by the speed and the value of the reaction of the consumer prices level to the changes of world market trends. The research has determined the factors and time limits for necessary involvement of regional authorities into the regulation of the consumer prices level. The selection of the implemented method of the direct and indirect regulation of the

  10. World energy outlook 2006

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2006-11-07

    The World Energy Outlook 2006 sets out the IEA's latest projections of world energy supply and demand to 2030 for oil, gas, coal, renewables, nuclear and electricity, plus projections on energy-related CO{sub 2} emissions. The publication is in three parts. Part A: The reference scenario has chapters entitled: Key assumptions; Global Energy Trends; Oil market outlook; Gas market outlook; Coal market outlook; and Power sector outlook. Part B: The alternative policy scenario contains chapters on: Mapping a new energy future; Assessing the cost-effectiveness of alternative policies; Deepening the analysis results by sector; and Getting to and going beyond the alternative policy scenario. Part C: Focus on key topics contains: The impact of higher energy prices; Current trends in oil and gas investment; Prospects for nuclear power; The outlook for biofuels; Energy for coking in developing countries; and Focus on Brazil. 224 figs., 84 tabs., 5 annexes.

  11. Coal: Cornerstone of America`s competitive advantage in world markets

    Energy Technology Data Exchange (ETDEWEB)

    Mills, M.P. [Mills-McCarthy and Associates Inc., Chevy Chase, MD (United States)

    1997-12-31

    The United States` competitive position in world markets will be determined by many forces. Two of the fundamental factors are the increased use of new technologies, and the availability of low-cost electricity to operate those technologies. The US currently has an will likely continue to have market dominance in both these critical areas. Both of these factors are intimately related since the primary source of new technologies is electric in nature. And, because low-cost coal now dominates and will continue to dominate the electric supply system, and because the US has both an abundance of coal and the world`s largest fleet of coal-fired power plants, the US will have an expanding base of low-cost electricity that will secure its current competitive advantage for years to come. Electric technologies and, increasingly, computer-based technologies integrated with electric technologies are the primary sources of innovative advancement and economic growth. As a consequence, the growth in electricity, which has historically tracked GNP growth, is expected to continue. And, with the restructuring of the electric utility industry and the emergence of vigorous competition, prices are expected to decline as competition increases. The net effect of these forces will be to dramatically increase the use of electric technologies -- and those sources of electricity that can provide low-cost electricity. The data show that coal, the primary source of new los-cost electricity, will supply between one-half and three-fourths of all new electric supply through 2010, at prices of about 3{cents}/kWh, and can do so without new power plant construction. Since the use of coal is expected to rise by at least 200 to 250 million tons/year over the current consumption of 850 million tons, and could increase as much as 400 million tons/yr, some have raised concerns about the emissions impact from the power plants. This report also shows that the net effect of increased electric use, assuming

  12. The development of the mineral oil market in the Federal Republic of Germany in 1991. Die Entwicklung des Mineraloelmarktes in der Bundesrepublik Deutschland im Jahre 1991

    Energy Technology Data Exchange (ETDEWEB)

    Mohnfeld, J.; Heinze, W.; Kulle, E. (Bundesministerium fuer Wirtschaft, Bonn (Germany))

    1992-06-01

    After the frame data of mineral oil on the energy market (worldwide oil market situation, energy consumption in the domestic country) have been explained, the development of the domestic sales in the consumer fields of carburettor fuel, diesel fuel, light and heavy fuel oil are described. Further chapters deal with the developments in the field of crude oil imports, product imports and exports, refinery production and capacities, yield situation of the refineries, international and national price development, mineral oil taxes as well as with foreign exchange expenditures for mineral oil. (UA).

  13. Global fishmeal and fish-oil supply: inputs, outputs and markets.

    Science.gov (United States)

    Shepherd, C J; Jackson, A J

    2013-10-01

    Recent data on fishmeal and fish-oil supply are presented identifying key producer countries and raw material sources and distinguishing between whole fish and by-products. The conversion of these raw materials into marine ingredients is discussed and global volumes presented. This is followed by a summary of the main countries using these marine ingredients over recent years. Uses of fishmeal and fish-oil by market segment are then presented. From this, a global mass balance of inputs and outputs is derived which allows the calculation of the input-to-output ratios (fish in:fish out; FIFO) for the main aquaculture production types to be made. Current areas of focus by the industry include the need to demonstrate sustainable practice, more strategic use of marine ingredients, greater use of fishery and land-animal by-products as well as vegetable substitutes, and novel sources of essential omega-3 fats, notably the long-chain polyunsaturated fatty acids, eicosapentaenoic (EPA) and docosahexaenoic (DHA) acids. Implications are drawn for future supply prospects of fishmeal and fish-oil and their future role in aquaculture, agriculture and human health. © 2013 The Fisheries Society of the British Isles.

  14. International Oil Supplies and Demands

    Energy Technology Data Exchange (ETDEWEB)

    1992-04-01

    The eleventh Energy Modeling Forum (EMF) working group met four times over the 1989--1990 period to compare alternative perspectives on international oil supplies and demands through 2010 and to discuss how alternative supply and demand trends influence the world's dependence upon Middle Eastern oil. Proprietors of eleven economic models of the world oil market used their respective models to simulate a dozen scenarios using standardized assumptions. From its inception, the study was not designed to focus on the short-run impacts of disruptions on oil markets. Nor did the working group attempt to provide a forecast or just a single view of the likely future path for oil prices. The model results guided the group's thinking about many important longer-run market relationships and helped to identify differences of opinion about future oil supplies, demands, and dependence.

  15. International Oil Supplies and Demands

    Energy Technology Data Exchange (ETDEWEB)

    1991-09-01

    The eleventh Energy Modeling Forum (EMF) working group met four times over the 1989--90 period to compare alternative perspectives on international oil supplies and demands through 2010 and to discuss how alternative supply and demand trends influence the world's dependence upon Middle Eastern oil. Proprietors of eleven economic models of the world oil market used their respective models to simulate a dozen scenarios using standardized assumptions. From its inception, the study was not designed to focus on the short-run impacts of disruptions on oil markets. Nor did the working group attempt to provide a forecast or just a single view of the likely future path for oil prices. The model results guided the group's thinking about many important longer-run market relationships and helped to identify differences of opinion about future oil supplies, demands, and dependence.

  16. Digital Marketing Budgets for Independent Hotels: Continuously Shifting to Remain Competitive in the Online World

    OpenAIRE

    Leora Halpern Lanz; Megan Carmichael

    2015-01-01

    The hotel marketing budget, typically amounting to approximately 4-5% of an asset’s total revenue, must remain fluid, so that the marketing director can constantly adapt the marketing tools to meet consumer communications methods and demands. This article suggests how an independent hotel can maximize their marketing budget by using multiple channels and strategies.

  17. Digital Marketing Budgets for Independent Hotels: Continuously Shifting to Remain Competitive in the Online World

    Directory of Open Access Journals (Sweden)

    Leora Halpern Lanz

    2015-08-01

    Full Text Available The hotel marketing budget, typically amounting to approximately 4-5% of an asset’s total revenue, must remain fluid, so that the marketing director can constantly adapt the marketing tools to meet consumer communications methods and demands. This article suggests how an independent hotel can maximize their marketing budget by using multiple channels and strategies.

  18. Coal demand and trade - growth and structural change in a competitive world market; Popyt i handel weglem - wzrost i zmiany strukturalne na konkurencyjnym rynku swiatowym

    Energy Technology Data Exchange (ETDEWEB)

    Copley, C. [World Coal Institute, London (United Kingdom)

    2004-07-01

    The article presents an overview of global demand and trade in hard coal (steam and coking). Coal demand has grown steadily over the past thirty years but coal trade has and will continue to grow at a faster rate. Transport contributes a relatively high proportion to the final price. Demand growth is strongest in countries with limited resources while production is declining in some countries with mature mining industries. There is a shift to demand in Asian markets. Spot contracts and tender transactions are replacing long-term contracts and e-commerce is developing. Prices are expected to remain stable, relative to those of oil and gas. China is expected to remain the world's second longest supplier of coal. 9 refs., 13 figs.

  19. The evolution of spillover effects between oil and stock markets across multi-scales using a wavelet-based GARCH-BEKK model

    Science.gov (United States)

    Liu, Xueyong; An, Haizhong; Huang, Shupei; Wen, Shaobo

    2017-01-01

    Aiming to investigate the evolution of mean and volatility spillovers between oil and stock markets in the time and frequency dimensions, we employed WTI crude oil prices, the S&P 500 (USA) index and the MICEX index (Russia) for the period Jan. 2003-Dec. 2014 as sample data. We first applied a wavelet-based GARCH-BEKK method to examine the spillover features in frequency dimension. To consider the evolution of spillover effects in time dimension at multiple-scales, we then divided the full sample period into three sub-periods, pre-crisis period, crisis period, and post-crisis period. The results indicate that spillover effects vary across wavelet scales in terms of strength and direction. By analysis the time-varying linkage, we found the different evolution features of spillover effects between the Oil-US stock market and Oil-Russia stock market. The spillover relationship between oil and US stock market is shifting to short-term while the spillover relationship between oil and Russia stock market is changing to all time scales. That result implies that the linkage between oil and US stock market is weakening in the long-term, and the linkage between oil and Russia stock market is getting close in all time scales. This may explain the phenomenon that the US stock index and the Russia stock index showed the opposite trend with the falling of oil price in the post-crisis period.

  20. Nations as strategic players in global commodity markets. Evidence from world coal trade

    Energy Technology Data Exchange (ETDEWEB)

    Paulus, Moritz; Trueby, Johannes; Growitsch, Christian

    2011-06-15

    We explore the hypothesis that export policies and trade patterns of national players in the steam coal market are consistent with non-competitive market behavior. We test this hypothesis by developing an equilibrium model which is able to model coal producing nations as strategic players. We explicitly account for integrated seaborne trade and domestic markets. The global steam coal market is simulated under several imperfect market structure setups. We find that trade and prices of a China - Indonesia duopoly fit the real market outcome best and that real Chinese export quotas in 2008 were consistent with simulated exports under a Cournot-Nash strategy. (orig.)

  1. Overview of the LNG world market; Panorama mundial do mercado de GNL

    Energy Technology Data Exchange (ETDEWEB)

    Veloso, Luciano de Gusmao; Costa, Julia Rotstein Smith da Silva; Moreira, Tathiany Rodrigues [Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis (ANP), Rio de Janeiro, RJ (Brazil)

    2008-07-01

    The commercialization of Liquefied Natural Gas (LNG) has been gaining great prominence worldwide and in Brazil, in recent days, due to the ever-increasing need for diversification of energy sources and for flexibilization of gas offer, in order to ensure the importing countries' supply. In this scenario, LNG has been positioning itself, around the world, as an important alternative, especially in cases where there is uncertainty concerning the fulfillment of delivery contracts, the transportation network is still incipient or inexistent, the gas pipelines operate at full capacity and the country's gas demand is met by more than one exporting source, sometimes by different transport modals. In the case of Brazil, the recent restrictions to the gas offer bring to the agenda the search for better solutions in energy policy in order to appropriately meet the totality of national demand. This article presents the current situation of the LNG market and identifies the main agents involved in its commerce, drawing attention to, in light of the originality of LNG projects in Brazil, the need for perfecting the regulation in order to boost the development of the national gas industry. (author)

  2. Oil and Labour: The Pivotal Position of Persian Oil in The First World War and the Question of Transnational Labour Dependency

    NARCIS (Netherlands)

    Atabaki, T.; De Vito, Christian G.; Gerritsen, Anne

    2017-01-01

    Atabaki examines the conceptualization, articulation, and implementation of the Oil Company’s shifting labour policy against the background of greater global geopolitical shifts during the First World War. The chapter especially addresses the spatiality of labour recruitment across the Persian

  3. World tanker fleet enjoyed a good year in 1979 but market may decline as West treies to cut consumption

    Energy Technology Data Exchange (ETDEWEB)

    Larkin, P.

    1980-02-01

    The 1980 oil tanker earnings will probably not match the 1979 earnings, as a record 4600 million bbl, equivalent to 90 days supply for the Free World, is in storage and no large increase (or perhaps a decrease) in oil consumption is foreseen. The leading crude trade route, from the Persian Gulf to Northwest Europe, had an average Worldscale index of W46.5 in 1979, with a peak of W66.6, and is predicted to have an average of W50 in 1980 (vs. the 1979 base). The Saudi and Iranian oil processed in Europe and returned to the Middle East will provide a new source of product trade in 1980. The decline in tanker productivity caused by the entrance of new shippers in 1979, the concomitant necessity of transporting smaller quantities of oil per tanker, and the probable excess of production over demand in 1980 will put pressures on prices and profit margins. There will be more oil in 1980 from Mexico and the North Sea, but the amount of oil produced by OPEC countries is predicted to drop by 2.5 million bbl/day.

  4. Oil and gas market report. Bolivia. Panorama and perspective for business

    Energy Technology Data Exchange (ETDEWEB)

    Van Mourik, J.A.M.

    1999-10-01

    Bolivia, with its large oil and natural gas potential, is becoming an increasingly important link in South American energy trade. With new fields and pipeline construction, the nation is becoming the natural gas hub for the Southern Cone. In 1998, Bolivia experienced 4,7% GDP growth, the fastest in South America, and Bolivia's best performance since 1988. In addition, Bolivia brought its inflation rate to a 2-decade low of 4,4 %. In addition to tight global capital markets, investments also is expected to decrease due to the completion of the Bolivia to Brazil gas pipeline. This extremely capital-intensive project accounted for a significant portion of Bolivia's investment for 1998 and 1999. Bolivia has made significant economic improvements over the past few years by adopting a series of free market policies. The mayor improvements in economic growth have been made possible primarily through the government's unique capitalization program of key national industries. In addition to the Capitalization Program, Bolivia's economic growth is a result of its involvement in several free trade associations. Bolivia, as well as Chile, is an associate partner of the Mercosur, whose members include Argentina, Brazil, Paraguay and Uruguay. Bolivia is also member of the Andean Pact, which comprises Peru, Colombia, Ecuador and Venezuela. Bolivia's unique involvement in both of these trade groups is allowing it to become an important cornerstone in the integration of the South American continent. Specifically, Bolivia is increasingly becoming an important transport hub within the continent. Energy is one of the main products Bolivia is attempting to transport. According to the government, nearly $5 billion of investment is needed by 2005 so Bolivia can succesfully develop its oil and gas reserves, build pipelines, and construct power plants if it wishes to emerge as the regional hub.

  5. Modelling the market in a risk-averse world: the case of South Africa ...

    African Journals Online (AJOL)

    In this paper, descriptive models of real returns on the South African market portfolio are developed and analysed. The 'market portfolio' is taken to comprise listed equity and government bonds, aggregated in proportion to their market capitalisation from time to time. The models have the attributes that, conditionally on ...

  6. Marketing in the E-Business World, Parts I & II | Smith | LBS ...

    African Journals Online (AJOL)

    Once a year, senior sales and marketing executives of many of Americas largest companies gather at the Waldorf Astoria Hotel in New York City for the Conference Boards Annual Marketing Conference. Participants spend two days discussing evolving issues relating to the successful marketing of consumer and industrial ...

  7. Do energy prices stimulate food price volatility? Examining volatility transmission between US oil, ethanol and corn markets

    NARCIS (Netherlands)

    Gardebroek, C.; Hernandez, M.A.

    2013-01-01

    This paper examines volatility transmission in oil, ethanol and corn prices in the United States between 1997 and 2011. We follow a multivariate GARCH approach to evaluate the level of interdependence and the dynamics of volatility across these markets. Preliminary results indicate a higher

  8. Do energy prices stimulate food price volatility? Examining volatility transmission between US oil, ethanol and corn markets

    NARCIS (Netherlands)

    Hernandez, M.A.; Gardebroek, C.

    2012-01-01

    This paper examines volatility transmission in oil, ethanol and corn prices in the United States between 1997 and 2011. We follow a multivariate GARCH approach to evaluate the level of interdependence and the dynamics of volatility across these markets. The estimation results indicate a higher

  9. Do energy prices stimulate food price volatility? Examining volatility transmission between US oil, ethanol and corn markets

    NARCIS (Netherlands)

    Gardebroek, C.; Hernandez, M.A.

    2012-01-01

    This paper examines volatility transmission in oil, ethanol and corn prices in the United States between 1997 and 2011. We follow a multivariate GARCH approach to evaluate the level of interdependence and the dynamics of volatility across these markets. Preliminary results indicate a higher

  10. International Oil Supplies and Demands. Volume 2

    Energy Technology Data Exchange (ETDEWEB)

    1992-04-01

    The eleventh Energy Modeling Forum (EMF) working group met four times over the 1989--1990 period to compare alternative perspectives on international oil supplies and demands through 2010 and to discuss how alternative supply and demand trends influence the world`s dependence upon Middle Eastern oil. Proprietors of eleven economic models of the world oil market used their respective models to simulate a dozen scenarios using standardized assumptions. From its inception, the study was not designed to focus on the short-run impacts of disruptions on oil markets. Nor did the working group attempt to provide a forecast or just a single view of the likely future path for oil prices. The model results guided the group`s thinking about many important longer-run market relationships and helped to identify differences of opinion about future oil supplies, demands, and dependence.

  11. International Oil Supplies and Demands. Volume 1

    Energy Technology Data Exchange (ETDEWEB)

    1991-09-01

    The eleventh Energy Modeling Forum (EMF) working group met four times over the 1989--90 period to compare alternative perspectives on international oil supplies and demands through 2010 and to discuss how alternative supply and demand trends influence the world`s dependence upon Middle Eastern oil. Proprietors of eleven economic models of the world oil market used their respective models to simulate a dozen scenarios using standardized assumptions. From its inception, the study was not designed to focus on the short-run impacts of disruptions on oil markets. Nor did the working group attempt to provide a forecast or just a single view of the likely future path for oil prices. The model results guided the group`s thinking about many important longer-run market relationships and helped to identify differences of opinion about future oil supplies, demands, and dependence.

  12. Forward curves, scarcity and price volatility in oil and natural gas markets

    Energy Technology Data Exchange (ETDEWEB)

    Geman, Helyette [Birkbeck, University of London (United Kingdom); ESCP-EAP (France); Ohana, Steve [ESCP-EAP (France)

    2009-07-15

    The role of inventory in explaining the shape of the forward curve and spot price volatility in commodity markets is central in the theory of storage developed by Kaldor [Kaldor, N. (1939) ''Speculation and Economic Stability'', The Review of Economic Studies 7, 1-27] and Working [Working, H. (1949) ''The theory of the price of storage'', American Economic Review, 39, 1254-1262] and has since been documented in a vast body of financial literature, including the reference paper by Fama and French [Fama, E.F. and K.R. French (1987) ''Commodity futures prices: some evidence on forecast power, premiums and the theory of storage'', Journal of Business 60, 55-73] on metals. The goal of this paper is twofold: 1. validate in the case of oil and natural gas the use of the slope of the forward curve as a proxy for inventory (the slope being defined in a way that filters out seasonality); 2. analyze directly for these two major commodities the relationship between inventory and price volatility. In agreement with the theory of storage, we find that: 1. the negative correlation between price volatility and inventory is globally significant for crude oil; 2. this negative correlation prevails only during those periods of scarcity when the inventory is below the historical average and increases importantly during the winter periods for natural gas. Our results are illustrated by the analysis of a 15 year-database of US oil and natural gas prices and inventory. (author)

  13. Is Solow’s Paradox Absent in World Leading Capital Markets? Econometric Evidence

    Directory of Open Access Journals (Sweden)

    Bilal Mehmood

    2014-06-01

    Full Text Available Information technology has transformed the traditional economy into digital economy during this century. Yet there has been debate of Solow’s Paradox in theoretical and empirical literature. Considering its importance, this research examines its impact on Capital Market Activity by using 47 countries of world’s leading capital markets. Market capitalization of listed companies (% of GDP and Stock traded turnover ratio (% have been considered as proxies for capital market activity while Information and Communication Technology expenditure is used as development indicators for ICT. Recently development Pooled Mean Group (PMG approach to cointegration is employed on data of 47 countries capital markets for time span 1990-2012. PMG being a heterogeneous panel estimation technique allows the slope and short run parameters to vary across the countries. Results show the presence of long run relationship between ICT development and capital market activity. Recommendations are made on the basis of empirical findings.

  14. A Qualitative Approach of Identifying Major Cost Influencing Factors in Palm Oil Mills and the Relations towards Production Cost of Crude Palm Oil

    OpenAIRE

    Elaine L.Y. Man; Adam Baharum

    2011-01-01

    Problem statement: The oil palm industry, which heavily depends on the world market, is an export oriented industry. Worlds palm oil consumption was growing over the years. In addition, Indonesia and Malaysia dominated the oil palm industry. The oil palm industry in Malaysia is very competitive and become one of the major economic sectors contributing to the total revenue of the country. In year 2009, there was a total of 22.40 million tons of oil palm products including p...

  15. BREXIT FALLOUT FOR BRITISH AND WORLD INSURANCE MARKET: OPERATIONAL AND INSTITUTIONAL ASPECTS

    Directory of Open Access Journals (Sweden)

    D. Rasshyvalov

    2017-09-01

    Full Text Available This paper studies the fallout of Brexit for insurance industry through a lens of future decisions to be made on the format and mechanism of this process. The operational and institutional aspects are analyzed, with focus on the leading role of the London insurance market in the formation of the capacity of the global insurance market and its dependence on the cash flows of other regional and national insurance as well as financial markets.

  16. Canola Oil Fuel Cell Demonstration: Volume 2 - Market Availability of Agricultural Crops for Fuel Cell Applications

    National Research Council Canada - National Science Library

    Adams, John W; Cassarino, Craig; Spangler, Lee; Johnson, Duane; Lindstrom, Joel; Binder, Michael J; Holcomb, Franklin H; Lux, Scott M

    2006-01-01

    .... The reformation of vegetable oil crops for fuel cell uses is not well known; yet vegetable oils such as canola oil represent a viable alternative and complement to traditional fuel cell feedstocks...

  17. QUALITY CONTROL TESTING OF VARIOUS SAMPLES OF PEPPERMINT OIL COLLECTED FROM LOCAL MARKET OF KARACHI, PAKISTAN

    National Research Council Canada - National Science Library

    Shaukat Khalid; Kaneez Fatima; Hina Yasin; Hira Naeem; Khan Usmanghani; Iqbal Ahmad

    2016-01-01

    .... In the present study, different samples of commercially available peppermint oil were subjected to standardization by determination of physicochemical characteristics, acid value, and resinified oil content...

  18. A History of Market Performance from Ancient Babylonia to the Modern World

    NARCIS (Netherlands)

    van der Spek, R.J.; van Leeuwen, B.; van Zanden, J.L.

    2014-01-01

    This exciting new volume examines the development of market performance from Antiquity until the dawn of the Industrial Revolution. Efficient market structures are agreed by most economists to serve as evidence of economic prosperity, and to be prerequisites for further economic growth. However,

  19. Young adult non-smokers' exposure to real-world tobacco marketing: results of an ecological momentary assessment pilot study.

    Science.gov (United States)

    Rose, Shyanika W; Anesetti-Rothermel, Andrew; Elmasry, Hoda; Niaura, Ray

    2017-08-31

    The aims of this pilot study were to assess and characterize non-current smoking young adults' exposure to tobacco marketing through an ecological momentary assessment protocol. Ecological momentary assessment (EMA) consists of repeated measurement of momentary phenomena and is well-suited to capture sporadic experiences in the real-world, such as exposure to tobacco marketing. EMA has the potential to capture detailed information about real-world marketing exposures in ways that reduce recall bias and increase ecological validity. In this study, young adults (n = 31; ages 18-25) responded to random prompts regarding their momentary exposure to tobacco marketing via text messages on their smartphones for 14 days (n = 1798 observations). Unadjusted and adjusted analyses were conducted using multilevel logistic regression to assess the odds of exposure accounting for correlation of multiple repeated measures within individuals while controlling for variability between individuals. Respondents reported, on average, two momentary exposures to tobacco advertising in the 14-day study period. In adjusted analyses, African-American (aOR 3.36; 95% CI 1.07, 10.54) and Hispanic respondents (aOR 5.08; 95% CI 1.28, 20.13) were more likely to report exposure to tobacco advertising. Respondents were also more likely to report exposure when also exposed to others using tobacco products and when they were at stores compared with at home (aOR 14.82; 95% CI 3.61, 60.88). Non-smoking young adults report exposure to tobacco marketing particularly at the point-of-sale, with the highest likelihood of exposure among African-American and Hispanic young people. EMA protocols can be effective in assessing the potential impact of point-of-sale tobacco marketing on young adults.

  20. EIA model documentation: World oil refining logistics demand model,``WORLD`` reference manual. Version 1.1

    Energy Technology Data Exchange (ETDEWEB)

    1994-04-11

    This manual is intended primarily for use as a reference by analysts applying the WORLD model to regional studies. It also provides overview information on WORLD features of potential interest to managers and analysts. Broadly, the manual covers WORLD model features in progressively increasing detail. Section 2 provides an overview of the WORLD model, how it has evolved, what its design goals are, what it produces, and where it can be taken with further enhancements. Section 3 reviews model management covering data sources, managing over-optimization, calibration and seasonality, check-points for case construction and common errors. Section 4 describes in detail the WORLD system, including: data and program systems in overview; details of mainframe and PC program control and files;model generation, size management, debugging and error analysis; use with different optimizers; and reporting and results analysis. Section 5 provides a detailed description of every WORLD model data table, covering model controls, case and technology data. Section 6 goes into the details of WORLD matrix structure. It provides an overview, describes how regional definitions are controlled and defines the naming conventions for-all model rows, columns, right-hand sides, and bounds. It also includes a discussion of the formulation of product blending and specifications in WORLD. Several Appendices supplement the main sections.

  1. Silica sand for oil and gas production : a technical market overview

    Energy Technology Data Exchange (ETDEWEB)

    Dawson, J.C. [BJ Services Company, Calgary, AB (Canada)

    2006-07-01

    In order to meet the growing demand for oil, petroleum production companies have initiated aggressive globally oriented drilling programs. In Canada and the United States, the average monthly rig count has doubled from 1103 rigs in 1990 to 2213 in 2006, with 53 per cent of the growth taking place in the last 3 years. Extensive damage occurs in the hydrocarbon rich formations during the drilling process of new wells. In order to stimulate and reconnect the well to the reservoir, completion processes such as hydraulic fracturing, are needed. In hydraulic fracturing, a viscous fluid is injected into the well at a rate and pressure sufficient to initiate a crack behind the casing perforations. When the fracture attains adequate width and length, silica sand or other proppants are added to the fluid to fill the created fracture. These may include Ottawa Sand, Brady Sand, bauxite, intermediate strength ceramics or resin coated sands. The use of proppants prevents the fracture from healing and provides a super conductive drainage channel for hydrocarbons. The proppant should provide the highest porosity to maximize permeability of the proppant pack. Hydrocarbon production can therefore be increased at relatively low costs. This paper reviewed the stringent industry specifications that various grades of proppant must meet, as defined by the American Petroleum Institute. The technical aspects of proppant testing were outlined with reference to proppant size, sphericity, acid solubility, turbidity, crush resistance, and testing for ceramic proppants. Despite improved logging and advances in well stimulation treatments, market trends indicate that hydraulic fracturing and proppants will continue to be an important aspect of oil and gas production. 22 refs., 3 tabs., 5 figs.

  2. Segmentation of the industrial market for food commodities: A conjoint study of purchase of vegetable oils in the mayonnaise and margarine industries

    DEFF Research Database (Denmark)

    Bech-Larsen, Tino; Skytte, Hans

    Executive summary The purpose of this working paper is to study whether current market and technological developments in the vegetable oil industry can be used as the outset for a price and/or quality based segmentation of the major industrial markets for this product. More specifically we want...... to identify segments with preferences for the qualities of Danish rape seed oil. The background for the study presented in this paper is the research project Rape seed oil for human consumption, which has its offspring in the nutritional qualities of Danish rape seed oil and the technological possibilities...

  3. Can You Hear Me Now? Marketing Essentials for Audiologists in a Noisy Health Care World

    Science.gov (United States)

    Rudden, DAnne

    2016-01-01

    Audiologists, even those with a strong acumen for business, are not traditionally taught the basics of creating a robust practice identity and dynamic marketing plan. This activity will teach learners how to create a distinct brand that separates them from others in a competitive and distracted marketplace. Additionally, learners will gain an understanding for how to blend traditional marketing tools with more modern online options and social media. Upon completion, learners will be familiar with the skills necessary to actively create, implement, and track the effectiveness of their marketing strategy using proven methodologies. PMID:28028325

  4. World cheating on the carbon market; Tricherie mondiale sur le marche carbone

    Energy Technology Data Exchange (ETDEWEB)

    James, O.

    2010-09-15

    According to several non-governmental organizations, some industrial producers take advantage of a flaw in one of the carbon market mechanisms set up by the Kyoto protocol. These industrialists, mainly from China and India, are involved in the production of HCFC22 refrigerants, and make a substantial profit by artificially generating more greenhouse gases (HFC23) than necessary, then destroying them in order to collect carbon credits which they sell on the carbon market. Explanations about the cheat, details about companies and banks involved in the system, review of past trickeries in carbon quotas, and ways to improve the carbon market are presented

  5. Can You Hear Me Now? Marketing Essentials for Audiologists in a Noisy Health Care World.

    Science.gov (United States)

    Rudden, DAnne

    2016-11-01

    Audiologists, even those with a strong acumen for business, are not traditionally taught the basics of creating a robust practice identity and dynamic marketing plan. This activity will teach learners how to create a distinct brand that separates them from others in a competitive and distracted marketplace. Additionally, learners will gain an understanding for how to blend traditional marketing tools with more modern online options and social media. Upon completion, learners will be familiar with the skills necessary to actively create, implement, and track the effectiveness of their marketing strategy using proven methodologies.

  6. Marketing.

    Science.gov (United States)

    Chambers, David W

    2010-01-01

    There is not enough marketing of dentistry; but there certainly is too much selling of poor quality service that is being passed off as dentistry. The marketing concept makes the patient and the patients' needs the ultimate criteria of marketing efforts. Myths and good practices for effective marketing that will promote oral health are described under the traditional four "Ps" categories of "product" (best dental care), "place" (availability), "promotion" (advertising and other forms of making patients aware of available services and how to use them), and "price" (the total cost to patients of receiving care).

  7. Impressions of contemporary times: market, finances, crisis and the world of work

    National Research Council Canada - National Science Library

    Vagner Luís da Silva

    2014-01-01

    ... about them. Thus, we have pointed: the centrality of the market, bringing out its capacity of, at the same time, oppressing the individual by building new needs and depreciating the power of state intervention...

  8. MARKETING STRATEGY OF RUP «BMZ» IN THE PERIOD OF WORLD FINANCIAL-ECONOMIC CRISIS

    Directory of Open Access Journals (Sweden)

    V. V. Zaitsev

    2010-01-01

    Full Text Available The marketing strategy of RUP «BMZ» in the period of worldwide financial-economic crisis is disclosed. It is shown that it is aimed at the maximum increase of export in all directions.

  9. Audit Market Regulation and Supplier Concentration around the World : Empirical Evidence

    OpenAIRE

    Heß, Benjamin; Stefani, Ulrike

    2012-01-01

    In the ongoing discussions on audit regulation, the key issues of auditor independence and a high level of audit market concentration have become apparent. However, there is the concern that regulations intended to improve auditor independence (i.e., restrictions regarding the joint supply of audit and non-audit services, audit firm rotation, joint audits, etc.) might further increase audit market concentration. We address this issue with an empirical analysis. Based on a cross-country study ...

  10. Likelihood of financial distress in Canadian oil and gas market: An optimized hybrid forecasting approach

    Directory of Open Access Journals (Sweden)

    Mohammad Mahbobi

    2017-05-01

    Full Text Available Forecasting models are built on either multivariate parametric or nonparametric methodologies. We attempt to optimize the accuracy of the forecasts combining these approaches to make a robust hybrid forecasting model in predicting the likelihood of financial distress for companies in the Canadian oil and gas market. The proposed approach combined the forecasts out of a multivariate logit model based on the conventional Altman’s Z-score with a nonparametric Artificial Neural Network (ANN technique. The sample firms are publicly traded and listed on the Toronto Stock Exchange (TSX and span over a period from first quarter of 1999 to the last quarter of 2014. The results of a proposed three-stage estimation process for the period of 2015-2020 indicated that besides the fact that Canadian energy sector will go through ups and downs regarding the likelihood of financial distress, this industry would face a hard time by late 2020. Results show that the forecasting accuracy out of the proposed three-stage forecasting technique is significantly superior to the outcomes of any individual forecasting techniques, i.e. ANN and logit models.

  11. CONTAGIOUS EFFECTS OF OIL PRICES ON ASIAN STOCK MARKETS’ BEHAVIOUR

    Directory of Open Access Journals (Sweden)

    Jok-Tong Wan

    2016-05-01

    Full Text Available The main objective of this study is to examine the stock markets’ shock due to the effect of the price of oil in the East Asia Region. Particularly, this study examines if there is stock market interdependence during global oil price shocks (sudden changes for a sample of five total oil importers (the Philippines, Hong Kong SAR, Taiwan, South Korea, and Japan, four net oil importers (Indonesia, Singapore, Thailand, and China, and one net oil exporter (Malaysia between 1999 and 2014. From the result, an oil price change is collectively found to have a small but significant positive impact on the stock markets, in particular where a sudden decrease in oil prices tends to cause a stock market downturn and volatility. The world economy’s spending, financial investments in oil futures and foreign investment by oil rich nations are some underlying motives for inducing this oil-stock positive relation. The same direction of time-varying conditional correlations is found across East Asian stock markets during negative oil price shocks. The integration among East Asian stock markets is inducing the oil shock contagion to be transmitted from direct oil-affected countries (South Korea, Hong Kong, and Singapore to non-direct oil affected countries’ (Japan and Taiwan stock markets. In spite of a long practiced ASEAN+3 macroeconomics surveillance process and Early Warning System (EWS which can be customized for stock markets to prevent or detect the oil risk, hedging against initial oil-affected stock markets and a stronger influence by the East Asian countries in the global world of oil and capital investment are strongly suggested.

  12. Marketing.

    Science.gov (United States)

    Appel, David L.

    This booklet suggests ways in which institutions--Catholic schools in particular--can move beyond public relations and advertising to engage in the broader arena of marketing with its focus on consumer satisfaction. The first of the book's three chapters reviews the concept of marketing, providing definitions of key terms, clarification of…

  13. Relative bioavailability and toxicity of fuel oils leaking from World War II shipwrecks.

    Science.gov (United States)

    Faksness, Liv-Guri; Daling, Per; Altin, Dag; Dolva, Hilde; Fosbæk, Bjørn; Bergstrøm, Rune

    2015-05-15

    The Norwegian Authorities have classified 30 WWII shipwrecks to have a considerable potential for pollution to the environment, based on the location and condition of the wreck and the types and amount of fuel. Oil thus far has been removed from eight of these shipwrecks. The water accommodated fractions of oils from two British wrecks and two German wrecks have been studied with special emphasis on chemistry and biological effects (algae growth (Skeletonema costatum) and copepod mortality (Calanus finmarchicus)). Chemical analyses were also performed on three additional German wreck oils. The results from these studies show that the coal based oils from German WWII shipwrecks have higher toxicity to marine organisms than the mineral oils from the British shipwrecks. The potential for higher impact on the marine environment of coal based oils has resulted in an altering of the priority list for oil recovery from WWII wrecks by the authorities. Copyright © 2015 Elsevier Ltd. All rights reserved.

  14. Responsibility for the future of the world-paradigm shift in the theory and practice of marketing

    Directory of Open Access Journals (Sweden)

    Gábor Rekettye

    2010-12-01

    Full Text Available En las últimas cuatro décadas muchos estudios científicos fueron publicados sobre los impactos medioambientales que amenazan el futuro de nuestro planeta. Estas manifestaciones apenas han afectado el área de marketing, no ha habido ningún cambio paradigmático. La primera parte del artículo trata de los procesos climáticos que amenazan el medio ambiente y la vida cotidiana de la población, y que pueden ser importantes para la formación del futuro del marketing. Hay una relación estrecha entre el cambio climático y el consumismo que estimula la investigación sobre la responsabilidad y la sostenibilidad del consumo. La segunda parte del artículo trata de esbozar las nuevas tendencias posibles en la teoría y en la práctica del marketing que son necesarias para enfrentar las cambiantes necesidades medioambientales.In the last four decades quite a lot of scientific studies have been published about those dangerous signs which threaten the future of our world. These manifests have only slightly affected the field of marketing; no paradigm shift has taken place. The first part of the paper deals with climate processes threatening the environment and the everyday life of the population, and which may be important in shaping the future of marketing. There is a strong relation between climate change and consumerism enforcing the research about the responsibility and sustainability of consumption. The second part of the study tries to outline those possible new trends in the theory and practice of marketing which are necessary to meet the changing environmental needs.

  15. Quality assessment of palm oil sold in major markets in Abia State ...

    African Journals Online (AJOL)

    This paper examines the quality of palm oil samples obtained from different locations in Abia State, Nigeria in terms of their physicochemical properties. The results obtained showed that the saponification value (SV) ranged from 129.04 – 198.03KOH/g of oil. The free fatty acid (FFA) of the palm oil samples ranged from 2.73 ...

  16. Modelling the market in a risk-averse world: the case of South Africa ...

    African Journals Online (AJOL)

    For that purpose it was decided to use ex-ante estimates of expected returns. This led to bias in the observed mean returns, which negates the rational expectations hypothesis. In the light of the literature on the subject, this is considered acceptable for these purposes. KEYWORDS Market portfolio, risk aversion, South Africa ...

  17. The world wide web: an emerging technology for marketing special forest products (poster abstract)

    Science.gov (United States)

    A.L. Hammett; Shelby Jones; Philip A. Araman

    1999-01-01

    Interest by forest landowners and agriculturist in Special Forest Products (SFPs) is increasing rapidly. At present there are numerous efforts to increase awareness of these products and the market potential. However, there is a shortage of information available and there are few means effective in disseminating the information necessary for the sustainable management...

  18. The Japanese Aerospace Industry: Is the Sun Rising on the World Market?

    Science.gov (United States)

    1992-02-25

    Heavy Industries , Kawasaki Heavy Industries , Ishikawajima - Harima Heavy Industries , and Fuji Heavy Industries ." When the United States and...MHI), Kawasaki Heavy Industries (KHI), and Ishikawa-jima- Harima Heavy Industries (IHI)-- to secure and dominate specific market areas (e.g., MHI in... Heavy Industries built 10,500 Zero fighters and the Nakajima Company, the predecessor of today’s Fuji

  19. Shell's Big Dirty Secret. Insight into the world's most carbon intensive oil company and the legacy of CEO Jeroen van der Veer

    Energy Technology Data Exchange (ETDEWEB)

    Stockman, L.; Rowell, A.; Kretzmann, S.

    2009-06-15

    Royal Dutch Shell plc is the largest oil operator in Nigeria, and holds more acreage in Canada's oil sands than any other corporation. Because of these facts, and several others, Shell is also the most carbon intensive oil company in the world. In short, for every barrel of oil it produces in the future, Shell will contribute more to global warming than any other oil company. This report documents Shell's record investment in dirty forms of energy, and it illuminates the corporate strategy and lobbying for regulations that indicate it intends to profit from that position for a long time to come (authors' abstract)

  20. Unintended de-marketing manages visitor demand in Greater Blue Mountains World Heritage Area

    OpenAIRE

    Burgin, Shelley; Hardiman, Nigel

    2014-01-01

    Kotler and Levy (1971, p.76) introduced the term ‘de-marketing’, defined as ‘that aspect of marketing that deals with discouraging customers in general or a certain class of customers in particular on either a temporary or permanent basis’. Subsequently, Groff (1998) interpreted the concept in the context of parks and recreation administration. Recently, Armstrong and Kern (2011) used the concept to underpin their investigation of visitor demand management within the Greater Blue Mountains Wo...

  1. A spatial price equilibrium model in the oligopolistic market for oil derivatives: an application to the brazilian scenario

    Directory of Open Access Journals (Sweden)

    Fabiano Mezadre Pompermayer

    2007-01-01

    Full Text Available This paper presents a spatial price equilibrium model in an oligopoly market for refined oil products. Till 1997 the Brazilian oil market was characterized by the state monopoly of Petrobras, which up to 2001 remained the only firm authorized to import oil derivatives. With several agents operating in the primary oil supply market, the government stopped fixing the prices for Petrobras, which started to determine the prices based on competition with other players. In this new scenario some questions arise regarding the price levels at which refined products will be supplied in different regions across Brazil as well as the capacity of national refineries to compete with imported products. To answer those and other questions, a new oligopoly spatial equilibrium model is herein proposed, taking into account the special characteristics of production of refined oil products. An iterative Gauss-Seidel-like algorithm with sequential adjustments was developed and applied to Brazilian market data. The model, the algorithm and its application are described in this work. Such a model may be used both by regulatory authorities and by companies in the sector.Este artigo apresenta um modelo de equilíbrio espacial de preços em um mercado oligopolizado de derivados de petróleo. Até o ano de 1997, o mercado brasileiro era caracterizado pelo monopólio estatal da Petrobrás, a qual permaneceu, até 2001, como a única empresa autorizada a importar derivados de petróleo. Com vários agentes operando no mercado, o governo deixou de fixar os preços para a Petrobrás, que passou a determinar os preços baseada na competição com outros agentes. Neste cenário, surgem algumas questões relativas aos níveis de preços a serem oferecidos no mercado e relativas à capacidade das refinarias nacionais de competir com produtos importados. Para responder a estas e outras questões, um novo modelo de equilíbrio espacial de preços para um mercado oligopolizado foi

  2. State and group dynamics of world stock market by principal component analysis

    CERN Document Server

    Nobi, Ashadun

    2015-01-01

    We study the dynamic interactions and structural changes in global financial indices in the years 1998-2012. We apply a principal component analysis (PCA) to cross-correlation coefficients of the stock indices. We calculate the correlations between principal components (PCs) and each asset, known as PC coefficients. A change in market state is identified as a change in the first PC coefficients. Some indices do not show significant change of PCs in market state during crises. The indices exposed to the invested capitals in the stock markets are at the minimum level of risk. Using the first two PC coefficients, we identify indices that are similar and more strongly correlated than the others. We observe that the European indices form a robust group over the observation period. The dynamics of the individual indices within the group increase in similarity with time, and the dynamics of indices are more similar during the crises. Furthermore, the group formation of indices changes position in two-dimensional spa...

  3. Labour market assessment of the offshore oil and gas industry supply and service sector in Newfoundland and Labrador

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2003-09-01

    The Petroleum Industry Human Resource Committee (PIHRC) commissioned this study in December 2002 to develop a profile of the labour demand and supply for the upstream production phase of the offshore oil and gas industry. Interviews with representatives from more than 45 countries in the offshore oil and gas sector in Newfoundland and Labrador were conducted. In addition, the results of a mail survey forwarded to an additional 42 companies were included along with a review of secondary labour market research. More than 340 positions were identified in the production phase in the study. Of these, approximately 80 were identified as difficult to recruit for a variety of reasons including: insufficient experience in the oil industry; occupational shortages; short-term or project employment opportunities; very limited employment opportunities and limited occupational supply; lack of specific occupational training programs; and additional projects possibly leading to occupational shortages. The study provided valuable input concerning future labour market and human resource planning and career counselling on the 340 positions previously identified. 10 tabs.

  4. Proceedings of the world heavy oil congress : 2009 business and technical conference

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2009-07-01

    This international conference provided a forum for collaborative examination of issues facing the heavy oil industry. The complete heavy oil value chain was examined in order to define short-term and long-term challenges and supply solutions. Leading experts were linked with the latest technologies for the unconventional oil industry. Participants from Venezuela, Canada, China, Brazil, France, Italy, Mexico, Netherlands, Norway, Russia, the United Kingdom and the United States presented case studies and field results, along with numerical simulation and laboratory investigations. The topics ranged from innovative oil sands processing and upgrading technologies; reservoir exploitation strategies; produced water treatment; sand control; reservoir monitoring; cementing design; geomechanics; and recovery processes such as cold heavy oil production with sand (CHOPS), chemical flooding, steam assisted gravity drainage, in-situ combustion and toe-to-heel air injection (THAI). The technical conference featured sessions on drilling and completions; fuels and upgrading; thermal recovery operations; field development; enhanced oil recovery and emerging recovery technologies; reservoir characterization; oil and water treatment; processing and transportation; production facilities; upgrading technology; and production technology. All 100 papers from the technical sessions have been catalogued separately for inclusion in this database. refs., tabs., figs.

  5. The Committment to a Liberal World Market Order as a Hegemonic Practice: The Case of the USA

    Directory of Open Access Journals (Sweden)

    Christoph Scherrer

    1995-08-01

    Full Text Available The ability of a nation to exert hegemony in world markets rests on the hegemony of a group of internationalists within that nation. In the USA, the hegemony of the internationalists was based on their control of the most productive segments of the economy, on the trade surpluses of the early post-war years, on their ability to secure raw materials from abroad, on the belieft that the Great Depression had been deepened by protectionism, and on anti-communism. Since 1971, trade deficits, and, more recently, the end of the Cold War, have undermined some of these foundations of their hegemony. Yet they were able to contain protectionist challenges and even to achieve further liberalization (e.g. NAFTA... In this paper I want to explore the reasons for the adherence of the United States to a liberal world market order despite the erosion of the foundations for its original committment. My research will be guided theoretically by the Gramscian concept of hegemony, by the strategic-relational approach to political processes, and by the regulation approach to political economy.

  6. The Three Circles Redux: A Market-Theoretic Perspective on World Englishes

    Science.gov (United States)

    Park, Joseph Sung-Yul; Wee, Lionel

    2009-01-01

    While Kachru's Three Circles model of World Englishes (Kachru 1985, 1986; Kachru and Nelson 1996) has been highly influential in highlighting the changing distribution and functions of English, it has also been criticized for its inability to account for the heterogeneity and dynamics of English-using communities, and for perpetuating the very…

  7. Sensitivity of stock market indices to oil prices: Evidence from manufacturing sub-sectors in Turkey

    Directory of Open Access Journals (Sweden)

    Eksi Halil Ibrahim

    2012-01-01

    Full Text Available Crude oil price is a critical cost factor for manufacturing industries that are of vital importance for economic growth. This study examines the relationship between crude oil prices and the indices of seven Turkish manufacturing sub-sectors over the period 1997:01-2009:12. The error correction model results reveal the long term causality from crude oil prices to chemical petroleum-plastic and basic metal sub-sectors indicating that these sub-sectors are highly sensitive to crude oil prices. We find no causal relationship for other sector indices for short or long time periods.

  8. The Analysis of the Oil Market in Ukraine Анализ рынка нефти в Украине

    OpenAIRE

    Sapronov Yuriy A.; Kostenko Dmitriy N.

    2012-01-01

    The article examines the state of the oil market in Ukraine. The article explores the dynamics of oil consumption in Ukraine. In this article the main consumers and producers of fuel in Ukraine is defined. The article analyzes the dynamics of oil refining. The dynamics of oil exports from Ukraine is investigated. The paper analyzes the demand for crude oil in Ukraine. It is established that the oil market in Ukraine has significant impact on the dependence of domestic producers of light oil p...

  9. Markets

    Science.gov (United States)

    David N. Wear; Jeffrey Prestemon; Robert Huggett; Douglas Carter

    2013-01-01

    Key FindingsAlthough timber production in the South more than doubled from the 1960s to the late 1990s, output levels have declined over the last 10 years, signaling structural changes in timber markets.For softwood products, production declines are most clearly related to demand issues. Demand for softwood solid wood products...

  10. Oil prices and speculative bubbles: empirical evidence from WTI markets; Precos do petroleo e bolhas especulativas: algumas evidencias para o mercado de WTI

    Energy Technology Data Exchange (ETDEWEB)

    Cavalcante, Mileno [Universidade Federal do Ceara (UFC), Fortaleza, CE (Brazil). Curso de Pos-Graduacao em Economia; PETROBRAS S.A., Rio de Janeiro, RJ (Brazil)

    2008-07-01

    The purpose of this work is to gather some evidence about the relationship between crude prices and speculation in oil futures and options markets focusing on WTI markets. In order to shed some light on this link, a brief characterization of what a speculative bubble is and how it works is given. It is also shown that the major reason behind the great inflow of capital into oil derivatives markets is that they became much more attractive to investors than other financial markets (i.e. stocks and bonds) between 2000 and 2007. The reasoning behind the speculative bubble argument is stated and a brief discussion about the strategies commercials and non-commercials adopted in WTI futures and options markets during 1995-2007 period is made. We confront this reasoning with the evidence from the non-commercial net positions and WTI prices from 2003 to 2007 and make some econometric tests for the hypotheses that changes in these positions affect prices and for the presence of a speculative bubble in WTI markets. Our analysis shows no clear linkage between oil prices and non-commercials net positions in the way the 'bubble theory' argues and points to a possible problem of asymmetric information in the oil markets. (author)

  11. Why the developing world is the perfect market place for solid state lighting

    Energy Technology Data Exchange (ETDEWEB)

    Schultz, C. [Light Up the World, Calgary, AB (Canada); Platonova, I. [Light Up the World, Calgary, AB (Canada); Calgary Univ., AB (Canada). Faculty of Environmental Design; Doluweera, G.; Irvine-Halliday, D. [Light Up the World, Calgary, AB (Canada); Calgary Univ., AB (Canada). Schulich School of Engineering

    2008-07-01

    Light Up The World (LUTW) is an organization dedicated to bringing renewable energy (RE) based solid state lighting (SSL) to the developing world. A typical SSL system consists of white light emitting diodes (WLEDs), a renewable energy source, and an energy storage device. Sufficient energy to operate a system with 2 1W lamps can be obtained using a 5W photovoltaic (PV) module. Use of the systems will help to eliminate the use of fuel-based lighting sources and their associated environmental impacts and safety and health hazards. This paper included a case study of a rural African community, as well as case studies of refugee camps in Sri Lanka and Nepal. The socio-economic impacts of SSL were evaluated, including potential impacts on taxation, business activities, and economic growth. The paper also demonstrated how the implementation of SSL will achieve all 8 of the United Nations' millennium development goals. 14 refs., 9 figs.

  12. Finding the food-fuel balance. Supply and demand dynamics in global vegetable oil markets

    Energy Technology Data Exchange (ETDEWEB)

    Savanti, P.

    2012-10-15

    Demand for vegetable oils for food and biofuel use is expected to increase by an additional 23 million tonnes by 2016; however supply is expected to struggle to keep up with this demand, according to this Rabobank report. Vegetable oil stocks have reached a 38 year low this year due in large part to constraints such as land availability and adverse weather.

  13. An economic study of palm oil marketing in Akwa Ibom state ...

    African Journals Online (AJOL)

    The Nigerian Palm Oil industry has witnessed a tremendous growth ever since despite its recent neglect. Its importance has permeated every facet of the economic sphere of the nation. Palm oil is the most important source of income to the people of Akwa Ibom State. However, the fluctuating trends in the production and ...

  14. A discussion paper for emerging markets: The role of IMF and the World Bank

    Directory of Open Access Journals (Sweden)

    Edmundo R. Lizarzaburu

    2012-09-01

    Full Text Available While both the World Bank and International Monetary Fund, are two separate entities, often not clear the role of each of them is therefore that this paper seeks to consolidate diverse information reviewed from both entities with the purpose of being able to understand the functioning and scope of each of these important institutions that have had successes and setbacks and ultimately have an active role in global finance and economy, despite the many detractors who are at levels world. There is an anecdote which is worth mentioning. “John Maynard Keynes, recognized at the inaugural meeting of the International Monetary Fund was confused by the names he thought the Fund should be called a bank, and the World Bank should be called a bottom. Confusion has reigned ever since. The Bank and the IMF are two intergovernmental pillars supporting the structure of economic and financial world”. The fundamental difference between the two is understood as: the Bank institution primarily for the development, while the IMF is a cooperative institution that seeks to maintain an orderly system of payments and receipts between nations. The manner followed to choose the head of each organization has a different procedure, but the important thing is that in the next few years, several countries such as Brazil, India have more active participation and Latin America as a group may perhaps lead some of them.

  15. THE HUMAN RIGHTS APPROACH TO MARKETS IN THE WORLD TRADE ORGANIZATION, UNITED NATIONS AND INTERNATIONAL LABOUR ORGANIZATION

    Directory of Open Access Journals (Sweden)

    Mehari Fisseha

    2014-07-01

    Full Text Available In the shadow of World War II’s end, unprecedented discourse regarding international human rights was birthed from knowledge regarding the gross abuses that took place and subsequent shock that the civilized world had no international legislation in place to counter similar, future atrocities. In 1948, the International Labour Organization (ILO adopted the Freedom of Association and Protection of the Right to Organise Convention while, in the same year, the United Nations (UN adopted the Universal Declaration of Human Rights [Swepston 1998, p.169]. The comparatively younger World Trade Organization (WTO has been both condemned and heralded for its handling, and lack thereof, of human rights violations. In the formidable wake of globalisation, all three organizations have had to bind their human rights policies to economics, thereby enhancing the interconnectivity of the entities and, by extension, international policy. The following, critical comment explores the history and current state of UN, ILO, and WTO human rights’ approaches to market policy, affording particular attention to recommendations for amending the policies in order to foster greater cohesion and address one of the most pressing human rights issues of the twenty-first century.

  16. [Medical ethics in the world's market. Hippocratic fidelity or enterprise fidelity].

    Science.gov (United States)

    Roncoroni, A J

    2000-01-01

    The advance which resulted in the mean survival increase from 50 to 75 years between 1920 and 1990 also provoked the rise in health care costs, and the so called "health crisis". In order to contain it, market tactics were put to action, health care was considered a commodity, patients "consumers" and hospitals or physicians "providers". Economists, accountants and business advisors in charge of "Health Maintenance Organizations" (HMO) started the very profitable activity of intervening between patients and physicians. Rationing, use of general practice guides, suboptimal treatments, risk avoidance and other market tactics changed the practice of a profession into a business enterprise. The HMO decides if, when, how and how much will be given to any "consumer". Use of technology more impersonal and easily administered is the leading feature of to-day's medicine over the intellectual activity of the physician who hears, understands, makes the physical examination, diagnosis and treatment. The increasing depreciation of his task obliges the physician to enlarge the number and decrease his communication with his patients. His fiduciary obligation is subordinated to market needs and his practice increasingly compromises his moral integrity. The HMO boasts of the quality of the service given, this is the timely use of to-day's appropriate resources. Nobody wants the 1950 car or medical practice. Tomorrow's practice however depends on increasing knowledge, that is, on research, an activity which is not the HMO object. The academic-medical center, the very place where the interaction of teaching and investigating promotes the excellence is discriminated by the HMO because of its compromise with fiduciary activity imposed by 2500 years of jewish-christian philosophy. The future of these institutions (state's Cinderella's) is progressively compromised; when we loose them how long will it take to recover them? The politicians are always ready to create new hospitals, after

  17. Physicochemical Analysis of Margarine, Butter and Butter Oil Samples of Iran’s Markets

    Directory of Open Access Journals (Sweden)

    Zhila Shabani

    2017-06-01

    Full Text Available Butter, margarine and butter oil are three products which consume daily by Iranian’scommunity. Detection of type and existence of synthetic antioxidants (SAs quantities in the margarine, butter and butter oil samples is so important in point of view of the safety. For this purpose, peroxide value (PV, oxidative stability (OS, iodine value (IV, fatty acid analysis (FA, type and amount of SAs, and its antioxidant activity (AA% of the samples was determined as described methods of the International Organization for Standardization (ISO documents including ISO numbers: 3960, 6886, 3961, 5509, AOCS Ce 6-86, and DPPH assay, respectively. The direct relationship between the quantities of OS, SA and AA% was observed in the samples. It was observed that many of butter oil samples were without SA. In margarine samples, the amount of IV was higher than that of in butter and butter oil samples (P<0.05. The SAs quantities in margarine samples were estimated higher than those of butter and butter oil samples (P<0.05. The AA% was observed in the most of butter and butter oil samples that SA was not detected in them by HPLC which may be depending on the existence of natural bioactive materials including phospholipids having antioxidant activity in butter and butter oil samples.Results showed that propyl gallate (PG was detected in all samples of margarine and the amount of SA in the all samples was lower than that of specified in Iranian National Standards Organization (INSO.

  18. Leadership Strategies for Maintaining Profitability in a Volatile Crude Oil Market

    Science.gov (United States)

    Braimoh, Lucky Anderson

    Volatile crude oil prices significantly affect the profitability of crude oil firms. The purpose of this single case study was to explore strategies some crude oil and gas business leaders used to remain profitable during periods of crude oil price volatility. The target population comprised 8 crude oil and gas business leaders located in Calgary, Canada, whose company remained profitable despite crude oil price volatility. The transformational leadership theory formed the conceptual framework for the study. Data were collected through the use of semistructured face-to-face interviews, company reports, and field notes. Data analysis involved a modified Van Kamm method, which included descriptive coding, a sequential review of the interview transcripts, and member checking. Based on methodological triangulation and thematic analysis, 5 themes emerged from the study, including communication and engagement; motivation and empowerment; measurement, monitoring, and control; self-awareness and humility; and efficiency and optimization. The implications for social change include the potential for crude oil and gas companies in Calgary, Canada to manage production costs, ensure earnings and profitability, and thus improve the socioeconomic well-being of Calgary indigenes through improved employment opportunities.

  19. Does the OVX matter for volatility forecasting? Evidence from the crude oil market

    Science.gov (United States)

    Lv, Wendai

    2018-02-01

    In this paper, I investigate that whether the OVX and its truncated parts with a certain threshold can significantly help in forecasting the oil futures price volatility basing on the Heterogeneous Autoregressive model of Realized Volatility (HAR-RV). In-sample estimation results show that the OVX has a significantly positive impact on futures volatility. The impact of large OVX on future volatility has slightly powerful compared to the small ones. Moreover, the HARQ-RV model outperforms the HAR-RV in predicting the oil futures volatility. More importantly, the decomposed OVX have more powerful in forecasting the oil futures price volatility compared to the OVX itself.

  20. The Effect of Changes in World Crude Oil Prices on U.S. Automobile Exports

    Directory of Open Access Journals (Sweden)

    Maksim Belenkiy

    2012-07-01

    Full Text Available This study describes an export model where consumers differentiate between different types of automobiles by the distance they can travel on one dollar’s worth of fuel. The model predicts that the overall demand for vehicles falls as crude oil prices rise, and that the demand for less fuel-efficient vehicles falls relatively more. In particular, we estimate that between 2007 and 2008, when the crude oil prices increased by 32 percent, the export demand for the SUVs manufactured in the United States declined by over $700 million. This implies that the relatively less fuel-efficient U.S.-model vehicles will tend to suffer a competitive disadvantage worldwide when crude oil prices are high. We discuss the potential role of the proposed CAFÉ standards in improving fuel-efficiency and growing exports of the U.S. vehicle fleet.

  1. The Effect of Changes in World Crude Oil Prices on U.S. Automobile Exports

    OpenAIRE

    Belenkiy, Maksim; Osborne, Stefan

    2012-01-01

    This study describes an export model where consumers differentiate between different types of automobiles by the distance they can travel on one dollar’s worth of fuel. The model predicts that the overall demand for vehicles falls as crude oil prices rise, and that the demand for less fuel-efficient vehicles falls relatively more. In particular, we estimate that between 2007 and 2008, when the crude oil prices increased by 32 percent, the export demand for the SUVs manufactured in the United ...

  2. Democratizing Energy Access in a Marketized World: The Cases of Costa Rica and Nicaragua

    Science.gov (United States)

    Colbert, M'Lisa Lee

    This thesis explores the experiences, motivations and the imaginary of people who seek to democratize access to energy. Through a survey of the energy democracy movement in Europe and North America and a case study of two participatory and democratically oriented electricity providers in Central America, this thesis examines the differences and similarities between democratizing energy in the Global North and Global South in the context of marketization and the global push to transition to renewable energy. The forces of an expanding global energy economy are increasingly influencing the way that we can access and consume energy in our lives. Local interactions cannot be understood by an isolated analysis without considering the larger structural conditions that implicate them. Today, we are witnessing a global push to transition our energy resources from fossil fuels to renewables due to the emergency of climate change. For the most part, this transition preoccupies itself with changing the technological instruments that source us the energy. Yet few changes are targeting transition from growth focused market-based economic models. Energy Democracy is one new imaginary that people are rallying around to help realize alternatives to drive more equitable and sustainable post-carbon futures. This thesis finds that there are unfounded normative assumptions being made about groups organizing around energy democracy that is causing scatter in the movement. There is an aggressive strand of energy democracy that readily accepts for-profit schemes and risks turning energy democracy into just another space for capital accumulation in the energy sector. This thesis presents two important suggestions for reconciling these problems. Firstly, to look beyond moving the term itself and prioritize connecting on the basis of the underlying principles that define the term. This will ultimately create more meaningful solidarity in the future, and a more grounded and unified movement

  3. Microscopic Spin Model for the STOCK Market with Attractor Bubbling on Regular and Small-World Lattices

    Science.gov (United States)

    Krawiecki, A.

    A multi-agent spin model for changes of prices in the stock market based on the Ising-like cellular automaton with interactions between traders randomly varying in time is investigated by means of Monte Carlo simulations. The structure of interactions has topology of a small-world network obtained from regular two-dimensional square lattices with various coordination numbers by randomly cutting and rewiring edges. Simulations of the model on regular lattices do not yield time series of logarithmic price returns with statistical properties comparable with the empirical ones. In contrast, in the case of networks with a certain degree of randomness for a wide range of parameters the time series of the logarithmic price returns exhibit intermittent bursting typical of volatility clustering. Also the tails of distributions of returns obey a power scaling law with exponents comparable to those obtained from the empirical data.

  4. State and group dynamics of world stock market by principal component analysis

    Science.gov (United States)

    Nobi, Ashadun; Lee, Jae Woo

    2016-05-01

    We study the dynamic interactions and structural changes by a principal component analysis (PCA) to cross-correlation coefficients of global financial indices in the years 1998-2012. The variances explained by the first PC increase with time and show a drastic change during the crisis. A sharp change in PC coefficient implies a transition of market state, a situation which occurs frequently in the American and Asian indices. However, the European indices remain stable over time. Using the first two PC coefficients, we identify indices that are similar and more strongly correlated than the others. We observe that the European indices form a robust group over the observation period. The dynamics of the individual indices within the group increase in similarity with time, and the dynamics of indices are more similar during the crises. Furthermore, the group formation of indices changes position in two-dimensional spaces due to crises. Finally, after a financial crisis, the difference of PCs between the European and American indices narrows.

  5. The Occurrence of the Day-of-the-Week Effects on Polish and Major World Stock Markets

    Directory of Open Access Journals (Sweden)

    Jamróz Paweł

    2014-08-01

    Full Text Available The aim of this paper is to analyze the occurrence of the so called day of the week effects in market return time series from the period of January 2003 to September 2013 (and additionally January 1999 to December 2002. The study focuses on four indices of the Warsaw Stock Exchange (WIG, WIG20, mWIG40 and sWIG80 and additionally five indices of major world stock exchanges (NIKKEI 225, DAX, CAC40, S&P 500, and IBEX. The main data sample was divided into three subperiods in order to determine whether or not the intensity of day of the week anomalies is constant in time. The study revealed a substantial number of the day of the week anomalies in earliest subperiods and very limited evidence of those effects in later ones, giving rise to the conclusion that the intensity of the day of the week anomalies is diminishing with time. The most common effect identified on the WSE was a positive Friday effect. The Monday effect often described in early literature on the subject matter seems to currently occur very rarely. The study also indicates that the day of the week effects were more persistent among stocks with smaller market capitalization on the WSE.

  6. QUALITY CONTROL TESTING OF VARIOUS SAMPLES OF PEPPERMINT OIL COLLECTED FROM LOCAL MARKET OF KARACHI, PAKISTAN

    Directory of Open Access Journals (Sweden)

    Shaukat Khalid

    2016-06-01

    Full Text Available Menthol is the most commonly used substance in many cosmetics and pharmaceutical products either as an active ingredient or in the form of excipient. In the present study, different samples of commercially available peppermint oil were subjected to standardization by determination of physicochemical characteristics, acid value, and resinified oil content. Thin layer chromatography (TLC has been used to confirm the presence of menthol. The result showed that the quality control test performed for the evaluation of the physicochemical parameters of peppermint oil can be considered useful in its standardization. The results of acid value and the resinified oil tests, carried out on the raw material, have found to be within the standard limits. The results indicated specified number of free fatty acids and absence of greasy impurities. The data obtained from the study would be useful in the authentication of the commercial peppermint oil samples. In TLC studies, the Rf value of the active constituent has been determined by comparison with its standard spot. This technique may be used as a tool for the correct identification of the active constituent which could help in the standardization of the peppermint oil samples.

  7. Ruling the Market: How Venice Dominated the Early Music Printing World

    Directory of Open Access Journals (Sweden)

    Elizabeth M. Poore

    2015-06-01

    Full Text Available This paper attempts to prove that Venice was the main geographical center of music printing and publishing from the 1300s to the late 1500s using several economic, legal, and cultural factors. The primary research method was examining secondary sources on music printing, publishing, and European and Venetian history. From the 1300s to the late 1500s, Venetian commercial trade and activity, including book publishing, reached unheard of levels. Venice held a powerful position in the European economy and its merchants were able to leverage this to great advantage when the new technology of printing became available. The specialized business of music printing and publishing was dominated by Venetian companies, who produced more sheet music than the rest of Europe combined between 1530 and 1560. The economic success of Venice also created a legal framework that benefited the burgeoning music printing industry. The printing and publishing of music required considerable capital such as specialized type faces, but the government system and capitalist economy of Venice made it easier for entrepreneurs to finance music publishing enterprises. The Venetian government system also encouraged close personal or even family relationships between different printing and publishing companies. This created a culture in which competing companies frequently benefited from cooperation. This paper makes it clear that there were a variety of economic, legal, and cultural factors that helped to propel Venice to its preeminent position as the provider of printed music to Europe during the 1300s to the late 1500s. In the mid-Renaissance, when it came to printed music, Venice did indeed own the market.

  8. Benzidine-based dyes: effects of industrial practices, regulations, and world trade on the biological stains market.

    Science.gov (United States)

    Dapson, R W

    2009-06-01

    One of the most sweeping changes in the dye industry since the advent of synthetic dyes grew out of the health risks associated with benzidine. Dyes made from benzidine and its derivatives were used around the world until adverse health effects become incontrovertible. Workers and family members of workers involved in production and use of benzidine-based dyes had a high incidence of bladder cancer. Following publication of several reports documenting this health hazard, dye makers in the USA, Europe, and Japan phased these dyes out of production in the 1970s. Government regulations lent legal support for these voluntary initiatives. Two strategies subsequently evolved to compensate: developed nations brought alternative substances to market while emerging countries increased production of carcinogenic dyes and sold them at discount prices around the world. Nearly all dye manufacturing now has moved away from nations whose costs of production and compliance rendered them unable to compete. The purpose of this brief review is to publicize the health risks associated with dyes made from benzidine and its congeners, and to alert all companies and end users handling these dyes for biomedical applications that composition of the product and lot-to-lot variability may be problematic because of the manufacturing and distribution practices of the countries where they are produced.

  9. The end of oil: on the edge of a perilous new world

    National Research Council Canada - National Science Library

    Roberts, Paul

    2004-01-01

    Petroleum is now so deeply entrenched in our economy, our politics, and our personal expectations that even modest efforts to phase it out are fought tooth and nail by the most powerful forces in the world...

  10. DEVELOPMENT OF E-COMMERCE IN WORLD AND TURKEY AND THE IMPACTS OF MARKETING STRATEGIES IN E-COMMERCE ON TURKEY’S ECONOMY

    OpenAIRE

    Terzi, Nuray; Gokce, Cemre

    2017-01-01

    The aim of this study is to investigate thedevelopment of e-commerce and the impact of marketing strategies in e-commerceon economy. Economic indicators is used and and questionnaire method is appliedto analyze the development of e-commerce and the impact of marketing strategiesin e-commerce on economy. Results show that e-commerce is gaining a momentum inthe world and Turkey as well, and e-marketing strategies are positively relatedon economy, both macroeconomic and microeconomic. E-commerce...

  11. Transnational anew, competitive at last: the oil market in the globalization era

    Energy Technology Data Exchange (ETDEWEB)

    Noel, P

    2003-07-01

    International political economy can be conceived as the study of the interaction between the confrontation of state sovereignties, whose regulation is primarily a question of power and secondarily of norms and institutional procedures and global economic activity (production and exchanges), which is a process of strategic interaction. The problem consists then in understanding how these two components are linked, influence over each other, support or conflict with each other in the global oil system. To consider oil in terms of International Political Economy (IPE), is thus to see it simultaneously as a potential object of inter-state confrontation and of economic competition. (A.L.B.)

  12. Manufacturing Improvement Program for the Oil and Gas Industry Supply Chain and Marketing Cluster

    Energy Technology Data Exchange (ETDEWEB)

    Taylor, Robert [Oklahoma State Univ., Stillwater, OK (United States)

    2016-09-28

    This project supported upgrades for manufacturing companies in the oil and natural gas supply chain in Oklahoma. The goal is to provide assistance that will lead to the improved efficiency advancement of the manufacturing processes currently used by the existing manufacturing clients. The basis for the work is to improve the economic environment for the clients and the communities they serve.

  13. the structure of labour market and demand for hired labour for oil

    African Journals Online (AJOL)

    DEPT OF AGRICULTURAL ENGINEERING

    tions such as the structure of labour of the farmers, farm size, village wage rate and cost of other productive .... is the average age (years) of oil palm trees on .... The average SSS or higher level of education of a household is ex- pected to exert a positive effect on the farmer's demand for hired labour as more educated peo-.

  14. The Impact of the Arab Decision-Makers on the Oil Market

    Science.gov (United States)

    1976-03-01

    model and the Snyder Decision-making modelo Their strategies will be analyzed as a form of deterrence proposed by Herman Kahn„ Areas of analysis will be...aggression unprofitable." J The oil weapon has all the desirable characteristics of a successful deterrent. It is cheap, non-accident prone, persuasive , 12

  15. Analysis of World Nuclear Market and Strategy of Korean NPP's Competitiveness Improvement for Exportation

    Energy Technology Data Exchange (ETDEWEB)

    Choi, Jae Young; Jeong, Yong Hoon [KAIST, Daejeon (Korea, Republic of); Roh, Seungkook [Korea Atomic Energy Research Institute, Daejeon (Korea, Republic of); Chang, Soon Heung [Handong Global University, Pohang (Korea, Republic of)

    2016-10-15

    China, India and USA (nuclear adopted countries) are planning tremendous number of NPPs to meet their increasing electricity demand and Saudi Arabia, Vietnam (nuclear adopting countries) are also planning to include nuclear power in their energy mix as a long-term plan. Korea has exported 4 units of APR1400 to the UAE in December, 2009. Korea became sixth NPP supplier country and our economic feasibility and safety features were started to evaluate worldwide. Nuclear industries became a new driver of Korea’s export and nuclear industries in Korea are now expecting another NPP export to Middle-eastern countries, including UAE and Saudi Arabia, based on the first-mover’s advantage at the UAE. In 2000s, five countries (Japan, USA, France, Russia and Korea), which are able to build NPP, focused on NPP export more than domestic construction. Global trend of world nuclear market changed rapidly, especially after NPP export to the UAE. By the global trend, hegemony of nuclear market migrated from supplier country to buyer country. Nuclear companies started cooperating rather than competing. Financing to developing countries become more important. In general, one of the considerable combinations is Korea-Japan-USA alliance. Korea is in charge of EPC, Japan supports financing and deficient technology (with USA partner), and Japan-USA handles fuel supply and back-end fuel cycle based on new agreed terms of ROK-US Nuclear Cooperation Agreement. This combination was judged to best way to collaborate with global companies. Paying attention to many delayed (or potentially delayed) constructions from Russia, intercepting the construction work will be available in case of contracted countries. Korea can emphasize the short construction time, high responsiveness and mild/equal diplomatic position to the target countries.

  16. Comparative study of aggregations under different dependency assumptions for assessment of undiscovered recoverable oil resources in the world

    Science.gov (United States)

    Crovelli, R.A.

    1985-01-01

    The U.S. Geological Survey assessed all significant sedimentary basins in the world for undiscovered conventionally recoverable crude-oil resources. Probabilistic methodology was applied to each basin assessment to produce estimates in the form of probability distributions. Basin probability distributions were computer aggregated to produce resource estimates for the entire world. Aggregation was approximated by a three-parameter lognormal distribution by combining the first three central moments of basin distributions. For purposes of experiment and study, world aggregation was conducted under four different sets of assumptions. The four cases are (1) dependent assessments of all basins, (2) dependent assessments within continental areas, but independent assessments among continental areas, (3) dependent assessments within countries, but independent assessments among countries, and (4) independent assessments of all basins. Mean estimate remained the same in all four cases, but the width of interval estimate formed using the 95th and 5th fractiles decreased with reduced dependency in going from first to fourth case. ?? 1985 Plenum Publishing Corporation.

  17. Analisis Permintaan Minyak Kelapa (Coconut Crude Oil Indonesia di Pasar Internasional

    Directory of Open Access Journals (Sweden)

    Syahrul Ganda Sukmaya

    2017-07-01

    Full Text Available The world demand of coconut oil or Coconut Crude Oil (CCO was 2.18 million tons per year in 2014. The market share of Indonesian palm oil in international market was the second largest after the Philippines. Vegetable oil market fluctuations in international markets was influenced by economic conditions of CCO consumer countries therefore influenced on oil exports. The purpose of this study was to analyze demand elasticity of Indonesian palm oil in international market and it competition with other producers. This study used secondary data, i.e annual data of Indonesian coconut crude oil exports and other exporting countries in international market from 1984 to 2015. The market demand analysis approach using AIDS (Almost Ideal Demand System and competition with the analysis of comparative advantage of Revealed Comparative Advantage (RCA was used. Results showed that Indonesian coconut oil commodities has a comparative advantage in international market. Moreover, increasing demand for imports of coconut crude oil in international market would be beneficial for Indonesia since it may increase Indonesian market share.

  18. Hawaii energy strategy project 2: Fossil energy review. Task 1: World and regional fossil energy dynamics

    Energy Technology Data Exchange (ETDEWEB)

    Breazeale, K. [ed.; Isaak, D.T.; Yamaguchi, N.; Fridley, D.; Johnson, C.; Long, S.

    1993-12-01

    This report in the Hawaii Energy Strategy Project examines world and regional fossil energy dynamics. The topics of the report include fossil energy characteristics, the world oil industry including reserves, production, consumption, exporters, importers, refining, products and their uses, history and trends in the global oil market and the Asia-Pacific market; world gas industry including reserves, production, consumption, exporters, importers, processing, gas-based products, international gas market and the emerging Asia-Pacific gas market; the world coal industry including reserves, classification and quality, utilization, transportation, pricing, world coal market, Asia-Pacific coal outlook, trends in Europe and the Americas; and environmental trends affecting fossil fuels. 132 figs., 46 tabs.

  19. Potential Development Essential Oil Production of Central Java, Indonesia

    Science.gov (United States)

    Alighiri, D.; Eden, W. T.; Supardi, K. I.; Masturi; Purwinarko, A.

    2017-04-01

    Indonesia is the source of raw essential oil in the world. Essential oils are used in various types of industries such as food and beverage, flavour, fragrance, perfumery, pharmaceuticals, and cosmetics. However, the development of Indonesian essential oil industry has not been encouraging for the production of essential oils, further it is unable to meet global demand. Besides that, the quality of volatile oil resulted cannot meet the international market standards. Based on the facts, the potential of Indonesian essential oils needs to be developed to provide added value, through increased production, improved quality and product diversification. One part of Indonesia having abundant of raw essential oil source is Central Java. Central Java has the quite large potential production of essential oils. Some essential oils produced from refining industry owned by the government, private and community sectors include cananga oils (Boyolali district), clove oils (Semarang district), patchouli oils (Brebes district, Pemalang district, and Klaten district). The main problem in the development of plants industries that producing essential oil in Central Java is low crops production, farming properties, quality of essential oils are diverse, providing poor-quality products and volatile oil price fluctuations. Marketing constraints of Central Java essential oils are quite complex supply chain. In general, marketing constraints of essential oils due to three factors, namely the low quality due to type of essential oil business that generally shaped small businesses with different capital and technology, domestic marketing is still a buyer-market (price determined by the buyer) because of weak bargaining position processors businessman, and prices fluctuate (domestic and foreign) due to uncontrolled domestic production and inter-country competition among manufacturers.

  20. Off-shore enhanced oil recovery in the north sea: matching CO_2 demand and supply given uncertain market conditions

    Science.gov (United States)

    Compernolle, Tine; Welkenhuysen, Kris; Huisman, Kuno; Piessens, Kris; Kort, Peter

    2015-04-01

    role of the ETS system will be discussed. In an initial stage, only the CO2-price and oil price market uncertainties are considered. In a further stage, uncertainties from the supply side (technology) and EOR (geological) will be added. References BERR. 2007. Development of a CO2 transport and storage network in the North Sea: report to the North Sea Basin Task Force. Dixit A, Pindyck R (1994). Investment under Uncertainty. In, Princeton University Press. Klokk Ø, Schreiner PF, Pagès-Bernaus A, Tomasgard A (2010). Optimizing a CO2 value chain for the Norwegian Continental Shelf. Energy Policy 38(11): 6604-6614 Leach A, Mason CF, Veld Kvt (2011). Co-optimization of enhanced oil recovery and carbon sequestration. Resource Energy Econ 33(4): 893-912 Lukas E, Welling A (2014). Timing and eco(nomic) efficiency of climate-friendly investments in supply chains. Eur J Oper Res 233(2): 448-457 Pershad, H., Durusut, E., Crerar, A., Black, D., Mackay, E. & Oldern, P., 2012. Economic Impacts of CO2-enhanced oil recovery for Scotland, Final report for Scottish Enterprise. Element energy, London. Piessens, K., Welkenhuysen K., Laenen, B., Ferket, H., Nijs, W., Duerinck, J., Cochez, E., Mathieu, Ph., Valentiny, D., Baele, J.-M., Dupont, N. & Hendriks, Ch., 2012. Policy Support System for Carbon Capture and Storage and Collaboration between Belgium-the Netherlands "PSS-CCS", Final report. Belgian Science Policy Office, Research Programme Science for a Sustainable Development contracts SD/CP/04a,b & SD/CP/803, 335p. Welkenhuysen, K., Compernolle, T., Piessens, K., Ramírez, A., Rupert, J. & Swennen, R., 2014. Geological uncertainty and investment risk in CO2-enhanced oil recovery. 12th International Conference on Greenhouse Gas Control Technologies (GHGT-12), Austin, Texas, 05-09/10/2014.

  1. Estimates of immediate effects on world markets of a hypothetical disruption to Russia’s supply of six mineral commodities

    Science.gov (United States)

    Safirova, Elena; Barry, James J.; Hastorun, Sinan; Matos, Grecia R.; Perez, Alberto Alexander; Bedinger, George M.; Bray, E. Lee; Jasinski, Stephen M.; Kuck, Peter H.; Loferski, Patricia J.

    2017-05-18

    The potential immediate effects of a hypothetical shock to Russia’s supply of selected mineral commodities on the world market and on individual countries were determined and monetized (in 2014 U.S. dollars). The mineral commodities considered were aluminum (refined primary), nickel (refined primary), palladium (refined) and platinum (refined), potash, and titanium (mill products), and the regions and countries of primary interest were the United States, the European Union (EU–28), and China. The shock is assumed to have infinite duration, but only the immediate effects, those limited by a 1-year period, are considered.A methodology for computing and monetizing the potential impacts was developed. Then the data pertaining to all six mineral commodities were collected and the most likely effects were computed. Because of the uncertainties associated with some of the data, sensitivity analyses were conducted to confirm the validity of the results.Results indicate that the impact on the United States arising from a shock to Russia’s supply, in terms of the value of net exports, would range from a gain of \\$336 million for titanium mill products to a loss of \\$237 million for potash; thus, the overall effect of a supply shock is likely to be quite modest. The study also demonstrates that, taken alone, Russia’s share in the world production of a particular commodity is not necessarily indicative of the size of potential impacts resulting from a supply shock; other factors, such as prices, domestic production, and the structure of international commodity flows were found to be important as well.

  2. World corporate loan markets for raising new capital - does distance still matter: Are financial assets priced locally or globally?

    Directory of Open Access Journals (Sweden)

    Vojinovič Borut

    2006-01-01

    Full Text Available Though the paper focuses on pricing, as the background I provide some evidence about loan flows across markets in the form of borrowers’ and lenders’ propensity to issue outside their natural home market. The data show that borrowers stay home when they can and that they tend to issue in Europe when they must issue abroad. That is, borrowers domiciled in one of the major markets (Europe, U.S., and Asia almost always issue in that market, whereas borrowers in more remote locations usually issue in the European market. For example, borrowers from Latin America are overwhelmingly issuing in Europe rather than in the U.S. market.

  3. The last oil century? The truth about world reserves - a geologist's viewpoint; Le dernier siecle du petrole? La verite sur les reserves mondiales - le point de vue d'un geologue

    Energy Technology Data Exchange (ETDEWEB)

    Mathieu, Yves

    2010-11-01

    Will the 21. century be the on of world oil reserves exhaustion? This fear of an oil-less world is shared by all: politicians, oil company heads, scientific experts, economists and, above all, by consumers. The author, a geologist and renowned expert of the domain, answers this vital question and presents the real situation of oil reserves country by country. He also evaluates the potentialities offered by non-conventional oils (heavy crudes, tar sands and oil shales) as well as by this desertic and hostile area considered as the new energy eldorado: the Arctic. This specialist's book, accessible to everyone, approaches in a didactic way the different economical and political stakes linked with world oil reserves. This analysis raises the issue: how long could we count on oil at accessible cost to cover our energy needs? (J.S.)

  4. Olive Oil and Healthy Life

    OpenAIRE

    ÖZATA, Esra; CÖMERT, Menekşe

    2016-01-01

    The demand for food that is produced naturally by being conscious and healthy people in the world are increasing rapidly. Consumers are turning to food produced in high quality and natural conditions as possible. In this respect, olives and olive oil is having a significant market share. Olive oil that combines health and taste, creating a source of vitamin E, which is soluble in fat and is a unique oil with a high calorific value. Natural juice can be consumed as has the distinction of being...

  5. SAE 5W-30 engine oils as all-season multigrade oils for passenger cars

    Energy Technology Data Exchange (ETDEWEB)

    Gommel, P.G.

    1986-04-01

    Since 1978 5W-30 multi-grade engine oils are being increasingly recommended in the USA. New engine developments of GM and Ford are orientated to such oils. The rules for oil filling at the factory and service stations take this into account. Following their use as certifying oils, amongst others for fuel consumption, and due to the relevant conditions imposed by the Environmental Protection Agency (EPA), the large American automobile concerns have introduced measures that shoudl substantially raise the share of the market held by 5W-30 oils in 1986. This conforms with a world-wide trend towards lower viscosity for reasons of fuel economy, better starting performance, and good lubricating characteristics in cold engines. Market introduction in non-USA countries, however, is markedly less advanced on a world-wide scale. The demands expected of quality in Europe differ from those in the USA. In Europe, and particularly in Germany, 5W-30 oils can only hope to fulfill the strict quality rules of the manufacturers (laid down acc. to CCMC and others) if they are on a synthetic basis or of comparable composition. Here, too, these oils are gaining a greater share of the market. On account of the international interdependency of the automobile markets more and more German automobile manufacturers are concerning themselves with 5W-30 oils.

  6. A comprehensive segmentation analysis of crude oil market based on time irreversibility

    Science.gov (United States)

    Xia, Jianan; Shang, Pengjian; Lu, Dan; Yin, Yi

    2016-05-01

    In this paper, we perform a comprehensive entropic segmentation analysis of crude oil future prices from 1983 to 2014 which used the Jensen-Shannon divergence as the statistical distance between segments, and analyze the results from original series S and series begin at 1986 (marked as S∗) to find common segments which have same boundaries. Then we apply time irreversibility analysis of each segment to divide all segments into two groups according to their asymmetry degree. Based on the temporal distribution of the common segments and high asymmetry segments, we figure out that these two types of segments appear alternately and do not overlap basically in daily group, while the common portions are also high asymmetry segments in weekly group. In addition, the temporal distribution of the common segments is fairly close to the time of crises, wars or other events, because the hit from severe events to oil price makes these common segments quite different from their adjacent segments. The common segments can be confirmed in daily group series, or weekly group series due to the large divergence between common segments and their neighbors. While the identification of high asymmetry segments is helpful to know the segments which are not affected badly by the events and can recover to steady states automatically. Finally, we rearrange the segments by merging the connected common segments or high asymmetry segments into a segment, and conjoin the connected segments which are neither common nor high asymmetric.

  7. Oil Spill!

    Science.gov (United States)

    Ansberry, Karen Rohrich; Morgan, Emily

    2005-01-01

    An oil spill occurs somewhere in the world almost every day of the year, and the consequences can be devastating. In this month's column, students explore the effects of oil spills on plants, animals, and the environment and investigate oil spill clean-up methods through a simulated oil spill. The activities described in this article give students…

  8. A quality assessment of crude palm oil marketed in Bahia, Brazil

    Directory of Open Access Journals (Sweden)

    de Almeida, D. T.

    2013-09-01

    Full Text Available The characteristics of the quality of crude palm oil (CPO and crude palm olein (CPOL produced in the states of Bahia and Pará were investigated. Twelve oil samples were analyzed; 2 (CPO were from Pará (produced industrially, while the other 10 were from Bahia (3 CPOs and 3 CPOLs produced industrially, while 1 CPOL and 3 CPOs were traditionally processed. The chemical analyses included the determination of fatty acid methyl esters (FAME, free fatty acids (FFA%, peroxide value (PV, induction time (IT, total carotenoids (TC and total polar compounds (TPC. The major saturated fatty acids in these samples were palmitic (34.79-42.89 g 100 g–1 and stearic (4.49-5.84 g 100 g–1 acid, and the main unsaturated fatty acids were oleic (37.31-43.69 g 100 g–1 and linoleic (9.04- 12.74 g100 g–1 acid. All samples produced in Bahia exhibited higher FFA (6.77-13.49% and TPC (13.71-19.50% levels than permitted in the international quality standards, unlike the samples produced in Pará. TC, PV and IT ranged from 422.1 to 584.2 mg g–1, 1.32 to 3.7 meq O2 kg–1 oil and 1.72 to 4.66 h, respectively. PV, FFA and TPC were inversely correlated with TC and IT. The use of inappropriate oil extraction processes in Bahia is clearly becoming a food safety problem.Las características de calidad del aceite de palma crudo (CPO y oleína de palma cruda (CPOL producidos en los estados de Bahía y Pará fueron investigados. Se analizaron doce muestras de aceites; 2 (CPO eran de Pará (producido industrialmente, mientras que las otras 10 procedían de Bahía (3 CPOs y 3 CPOLs producidos industrialmente, mientras que 1 CPOL y 3 CPOs fueron procesadas tradicionalmente. El análisis químico incluyó la determinación de ésteres metílicos de ácidos grasos (FAME, ácidos grasos libres (FFA%, índice de peróxido (PV, el tiempo de inducción (TI, los carotenoides totales (TC y el total de compuestos polares (TPC. Los principales ácidos grasos saturados en estas muestras

  9. International oil and gas finance review 1997

    Energy Technology Data Exchange (ETDEWEB)

    Anon.

    1997-06-01

    This first edition covers financing projects in the developing world, mergers and acquisitions; mitigating cross-border risk; basic risk in energy markets; real-time oil and gas pricing issues; oil and gas equity; risk management; project finance. The yearbook also features more regional specific topics such as: gas transportation in the Mercosur; 25 years of growth in the UAE; natural gas in Mexico; LNG in the Far East; legal issues surrounding the Russian oil and gas industry; LNG projects in the Middle East; the North Sea; and financing the oil and gas industry of Southern and South Africa. (UK)

  10. Comparative analysis of Nigerian international oil marketing model (NIOMM) and the models of four selected OPEC members; and a proposed new model for Nigeria

    Energy Technology Data Exchange (ETDEWEB)

    Udeke, O.O.

    1986-01-01

    This study demonstrates that NIOMM has deficiencies and, as a result, has affected the progress of Nigeria's political and socio-economic development. One finding is that Nigeria is beset with ineffective planning, lack of marketing expertise, and inadequate marketing strategies. Other findings show that: (1) the Nigerian oil industry (HOI) is suffering from mismanagement stemming from corruption, tribalism, Federal Character Policy, and lack of dedication and patriotism by the Nigerian workers; (2) there is inefficiency in the Nigerian national petroleum corporation (NNPC) but, at the same time, the inefficiency is partly because of the government policies, conflicts, interference by high government officials and politicians, and the enormous size of the oil industry; (3) oil revenues are improperly utilized; (4) neither the multinational oil corporations (MNOCs) nor multinational corporations (MNCs) are assisting the oil producing nations (OPNs) or developing countries (DCs) in their economic development, and MNOCs and MNCs are interested in profit maximization; and (5) MNCs do not transfer the type of technology that meets the needs of DCs, and sometimes the technology creates problems for DCs which ultimately results into conflicts between MNCs and DCs. The inverse of these problems has been a sine qua non for success in the IOMMs of the four OPEC member, especially in Saudi Arabia.

  11. Effects of Marketing Loans on U.S. Dry Peas and Lentils: Supply Response and World Trade

    OpenAIRE

    Lin, William W.; Lucier, Gary

    2008-01-01

    The 2002 Farm Act required USDA to implement marketing loans for the 2002-07 crops of dry peas, lentils, and small chickpeas. This provision led to expanded acreage for dry peas and lentils, crops analyzed in this study. The analysis found that marketing loans played a role in expansion for dry peas in 2003-05 and for lentils in 2003. For dry peas and lentils, marketing loans contributed to acreage expansion in North Dakota and Montana. Simulation model results suggest that marketing loans ha...

  12. The outlook for US oil dependence

    Energy Technology Data Exchange (ETDEWEB)

    Greene, D.L.; Jones, D.W.; Leiby, P.N.

    1995-05-11

    Market share OPEC lost in defending higher prices from 1979-1985 is being steadily regained and is projected to exceed 50% by 2000. World oil markets are likely to be as vulnerable to monopoly influence as they were 20 years ago, as OPEC regains lost market share. The U.S. economy appears to be as exposed as it was in the early 1970s to losses from monopoly oil pricing. A simulated 2-year supply reduction in 2005-6 boosts OPEC revenues by roughly half a trillion dollars and costs the U.S. economy an approximately equal amount. The Strategic Petroleum Reserve appears to be of little benefit against such a determined, multi-year supply curtailment either in reducing OPEC revenues or protecting the U.S. economy. Increasing the price elasticity of oil demand and supply in the U.S. and the rest of the world, however, would be an effective strategy.

  13. 75 FR 13445 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable...

    Science.gov (United States)

    2010-03-22

    ...; ] DEPARTMENT OF AGRICULTURE Agricultural Marketing Service 7 CFR Part 985 Marketing Order Regulating the... 2010-2011 Marketing Year AGENCY: Agricultural Marketing Service, USDA. ACTION: Proposed rule. SUMMARY... handlers may purchase from, or handle for, producers during the 2010-2011 marketing year, which begins on...

  14. 76 FR 11971 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable...

    Science.gov (United States)

    2011-03-04

    ...; ] DEPARTMENT OF AGRICULTURE Agricultural Marketing Service 7 CFR Part 985 Marketing Order Regulating the... 2011-2012 Marketing Year AGENCY: Agricultural Marketing Service, USDA. ACTION: Proposed rule. SUMMARY... handlers may purchase from, or handle on behalf of, producers during the 2011-2012 marketing year, which...

  15. 78 FR 22202 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable...

    Science.gov (United States)

    2013-04-15

    ...; ] DEPARTMENT OF AGRICULTURE Agricultural Marketing Service 7 CFR Part 985 Marketing Order Regulating the... 2013-2014 Marketing Year AGENCY: Agricultural Marketing Service, USDA. ACTION: Proposed rule. SUMMARY..., that handlers may purchase from, or handle on behalf of, producers during the 2013-2014 marketing year...

  16. World coal outlook to the year 2000

    Energy Technology Data Exchange (ETDEWEB)

    1983-01-01

    The 1983 edition of the World Coal Outlook to the Year 2000 examines the worldwide impact of lower oil prices and lower economic activity on the demand, production, and international trade in coal. The report includes detailed regional forecasts of coal demand by end-use application. Regions include the US, Canada, Western Europe, Japan, Other Asia, Latin America, Africa, Australia/New Zealand, Communist Europe, and Communist Asia. In addition, regional coal production forecasts are provided with a detailed analysis of regional coal trade patterns. In all instances, the changes relative to Chase's previous forecasts are shown. Because of the current situation in the oil market, the report includes an analysis of the competitive position of coal relative to oil in the generation of electricity, and in industrial steam applications. The report concludes with an examination of the impact of an oil price collapse on the international markets for coal.

  17. Oil and international security: old and new issues; Petrole et securite internationale: de nouveaux enjeux

    Energy Technology Data Exchange (ETDEWEB)

    Noel, P

    1998-09-01

    This paper questions the effectiveness of the link between international oil and (inter)national security. First, it explains an acknowledge the rise and decline of the traditional case of this link: the threat that so called ''oil dependence'' inflicts upon the national economy, hence the problem it raises for government. The reason for that decline is looked for in the emergence of multiple forms of competition in oil and energy markets, making the ''oil weapon'' less credible and its use less desirable and less possible. In oil like in any other commodity, the normal situation is the competition between suppliers for access to markets. For all basic economics tells us and experience has confirmed, analyses and policies (at least in France) are still strongly influenced by the ''oil security'' thinking shaped in the eve of the 1970 crises. Yet, those fallacies may be the strongest obstacle to the acknowledgment of the real oil security issues we face. The main one is the possible political destabilization of the Middle East due to oil competition between its members in an increasingly competitive world market. The consequences on regional antagonisms of the come back of Iraqi oil to the market on one hand, the internal stability of Iran and Saudi Arabia in a situation of lasting low oil revenues on the other hand, are reviewed as the main possible factors of regional destabilization in a context of strong competition in the world oil market. A large scale political burst with major oil producers concerned would certainly hurt developed and developing economy. That leads us to this paradoxical situation: the very cause of the decline of the traditional oil dependence issue is, due to Middle East situation, the main cause of possible destabilization of world oil market today. (author)

  18. 77 FR 57037 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Change to...

    Science.gov (United States)

    2012-09-17

    ... Handling of Spearmint Oil Produced in the Far West; Change to Administrative Rules Regarding the Transfer... would change the date by which a producer must transfer excess spearmint oil to another producer or... would also change the date that the Committee must pool identified excess oil as reserve oil from...

  19. Expectations of oil prices in international market: some considerations; Algumas consideracoes sobre as expectativas dos precos do petroleo no mercado internacional

    Energy Technology Data Exchange (ETDEWEB)

    Salles, Andre A. de [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil)

    2008-07-01

    The petroleum market belongs to the more volatile when compared to other markets of financial active. Thus, market academic and professionals recognize the difficulty, and complexity, to obtain a prices forecast model when talking about oil. This work has for objective introduce an alternative methodology to the models which have been presented in the literature, with regard to the procedures of statistical inference. This methodology takes in consideration, in the construction of the prices forecast models, the violation of homoscedasticity, purpose of the classical econometric methods, and the occurrence of abnormal information in the temporal series of the prices or of the returns. This methodology, with Bayesian focus, for forecast models construction of the returns of the petroleum prices, takes in to account the heteroscedasticity of the returns and not the normality. The used information in this work was closing quotations of the market spot of petroleum of the type WTI negotiated in NYMEX. From the market daily prices of oil WTI (West Texas Intermediate), from the period of June 2006 to March 2007, were calculated returns, performing 202 information to be used in the introduced models. The used alternative models introduced presents a superior performance to the available models in the literature and commented in this work. (author)

  20. Marketing Learning Communities to Generation Z: The Importance of Face-to-Face Interaction in a Digitally Driven World

    Science.gov (United States)

    Spears, Julia; Zobac, Stephanie R.; Spillane, Allison; Thomas, Shannon

    2015-01-01

    This article aims to identify the marketing strategies utilized by Learning Community (LC) administrators at two large, public, four-year research universities in the Midwest. The use of digital media coupled with face-to-face interaction is identified as an effective method of marketing LCs to the newest population of incoming college students,…

  1. Hazardous waste and used oil fuel burning; Continuing regulatory concerns for generators, marketers and burners

    Energy Technology Data Exchange (ETDEWEB)

    Voelpel, J.W. (Honigman Miller Schwartz and Cohn, Detroit, MI (US))

    1987-01-01

    With the closing of interim status 'windows' and with the interest of many present HWF blenders and burners in restricting entry into the field, the concerns and opportunities associated with the blending and burning marketplace remain topical and in some areas not yet clearly defined. Also, further regulation, such as the promised rules for burners due in April, 1987, may force some to leave the field, thus creating additional concerns and opportunities. In any event, because hazardous wastes with substantial heat value will be generated for many years to come and because of the present load on available hazardous waste incinerators, blending and burning of HWF and used oil promise to remain an extremely important means of destruction of these materials. The author presents a discussion of the following areas: history, who can blend and who can't, who can burn and who can't, regulation of combustion residuals, impact of the land disposal ban rules, and state and other federal regulatory impacts.

  2. INDUSTRIAL TECHNOLOGICAL RESEARCH «DEVELOPMENT OF RUSSIAN MARKET OF NANOTECHNOLOGICAL PRODUCTS IN CONSTRUCTION UNTIL 2020». PART 2. ANALYSIS OF THE WORLD MARKET

    Directory of Open Access Journals (Sweden)

    GUSEV Boris Vladimirovich

    2013-04-01

    Full Text Available Some results of the industrial research «Development of Russian market of nanotechnological products in construction until 2020» have been published. Authors invite all interested specialists and specialized organization to take part in the broad public discussion.

  3. Scenarios of the development of the world market for environmental and climate protection goods and services; Szenarien zur Entwicklung des Weltmarktes fuer Umwelt- und Klimaschutzgueter

    Energy Technology Data Exchange (ETDEWEB)

    Blazejczak, Juergen [Fachhochschule Merseburg (Germany); Deutsches Inst. fuer Wirtschaftsforschung, Berlin (Germany); Edler, Dietmar [Deutsches Inst. fuer Wirtschaftsforschung, Berlin (Germany)

    2008-12-15

    Supply potentials of German and European producers of goods and services for the protection of environment and climate have been accessed in a study by DIW, FhG-ISI and Roland Berger (2007). The present study explores a simple methodology to supplement such supply oriented assessments by a projection of world wide demand for environmental and climate protection goods and services (ECPGS) and to determine the share directed at German and European producers. The analysis starts from assumptions about world economic growth disaggregated by 175 countries. For each country the presumed importance of environmental protection - disaggregated by 4 areas - is described by its expected GDP share of environmental protection expenditures; rich countries devote more of their GDP than poor countries to environmental and climate protection. Environmental protection expenditure is delimited in this study in accordance with the rather traditional classification of Eurostat which only includes measures directly aimed at the reduction of pollution or other environmental pressures but excludes measures to allow for a more rational use of natural ressources. Combining this information yields an estimate of the world market of ECPGS. By adjusting statistical information on overall import shares of the 175 countries to account for the particularities of ECPGS, world imports (i.e. world trade) of ECPGS can be estimated. World market shares of German and EU suppliers of ECPGS have been derived from OECD trade statistics. Applying these to the estimates of world trade of ECPGS yields German an EU exports of ECPGS. Together with domestic demand less imports, total domestically effective demand in Germany and the EU results. To account for uncertainties, a number sensitivity analyses have been performed. They assume e.g. a less pronounced shift of growth centres to Asia, differently focussed expenditure, and reduced world market shares of Germany and Europe. Even under the assumption of a

  4. A study of correlations between crude oil spot and futures markets: A rolling sample test

    Science.gov (United States)

    Liu, Li; Wan, Jieqiu

    2011-10-01

    In this article, we investigate the asymmetries of exceedance correlations and cross-correlations between West Texas Intermediate (WTI) spot and futures markets. First, employing the test statistic proposed by Hong et al. [Asymmetries in stock returns: statistical tests and economic evaluation, Review of Financial Studies 20 (2007) 1547-1581], we find that the exceedance correlations were overall symmetric. However, the results from rolling windows show that some occasional events could induce the significant asymmetries of the exceedance correlations. Second, employing the test statistic proposed by Podobnik et al. [Quantifying cross-correlations using local and global detrending approaches, European Physics Journal B 71 (2009) 243-250], we find that the cross-correlations were significant even for large lagged orders. Using the detrended cross-correlation analysis proposed by Podobnik and Stanley [Detrended cross-correlation analysis: a new method for analyzing two nonstationary time series, Physics Review Letters 100 (2008) 084102], we find that the cross-correlations were weakly persistent and were stronger between spot and futures contract with larger maturity. Our results from rolling sample test also show the apparent effects of the exogenous events. Additionally, we have some relevant discussions on the obtained evidence.

  5. Time-varying coefficient vector autoregressions model based on dynamic correlation with an application to crude oil and stock markets.

    Science.gov (United States)

    Lu, Fengbin; Qiao, Han; Wang, Shouyang; Lai, Kin Keung; Li, Yuze

    2017-01-01

    This paper proposes a new time-varying coefficient vector autoregressions (VAR) model, in which the coefficient is a linear function of dynamic lagged correlation. The proposed model allows for flexibility in choices of dynamic correlation models (e.g. dynamic conditional correlation generalized autoregressive conditional heteroskedasticity (GARCH) models, Markov-switching GARCH models and multivariate stochastic volatility models), which indicates that it can describe many types of time-varying causal effects. Time-varying causal relations between West Texas Intermediate (WTI) crude oil and the US Standard and Poor's 500 (S&P 500) stock markets are examined by the proposed model. The empirical results show that their causal relations evolve with time and display complex characters. Both positive and negative causal effects of the WTI on the S&P 500 in the subperiods have been found and confirmed by the traditional VAR models. Similar results have been obtained in the causal effects of S&P 500 on WTI. In addition, the proposed model outperforms the traditional VAR model. Copyright © 2016 Elsevier Ltd. All rights reserved.

  6. Marketing marketing

    NARCIS (Netherlands)

    dr. Karel Jan van Alsem

    2013-01-01

    In deze installatierede betoogt Karel Jan Alsem dat marketing een grotere strategische rol in organisaties zou moeten krijgen. Want marketing is bij uitstek de verbinding tussen klantwensen en het DNA van een organisatie. Doordat merken gemiddeld voor mensen niet heel belangrijk zijn, is goede

  7. Mobile marketing

    OpenAIRE

    Klečková, Zuzana

    2013-01-01

    The main aim of this thesis was to provide a comprehensive overview of the mobile marketing and analyze selected campaigns of Czech mobile marketing in comparison to world successful campaigns. The research contained studying of available literature about the theme to gain general knowledge about the issue. The theoretical part of the thesis contains predominantly various definitions of mobile marketing and its tools, advantages of these tools and some information about Mobile Marketing Assoc...

  8. Hedging effectiveness and volatility models for crude oil market: a dynamic approach; Modelos de volatilidade e a efetividade do hedge no mercado de petroleo: um abordagem dinamica

    Energy Technology Data Exchange (ETDEWEB)

    Salles, Andre Assis de [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil)

    2012-07-01

    The hedge strategies allow negotiators that have short and long positions in the market protection against price fluctuations. This paper examines the performance of bivariate volatility models for the crude oil spot and future returns of the Western Texas Intermediate - WTI type barrel prices. Besides the volatility of spot and future crude oil barrel returns time series, the hedge ratio strategy is examined through the hedge effectiveness. Thus this study shows hedge strategies built using methodologies applied in the variance modeling of returns of crude oil prices in the spot and future markets, and covariance between these two market returns, which correspond to the inputs of the hedge strategy shown in this work. From the studied models the bivariate GARCH in a Diagonal VECH and BEKK representations was chosen, using three different models for the mean: a bivariate autoregressive, a vector autoregressive and a vector error correction. The methodologies used here take into consideration the denial of assumptions of homoscedasticity and normality for the return distributions. The data used is logarithm returns of daily prices quoted in dollars per barrel from November 2008 to May 2010 for spot and future contracts, in particular the June contract. (author)

  9. Conference for the solar market: Solar industry meets world of finance; Konferenz rund um den Solarmarkt: Solarbranche trifft Finanzwelt

    Energy Technology Data Exchange (ETDEWEB)

    Breid, B.

    2001-11-01

    The 2nd Forum Solarpraxis was held at Berlin on 15-17 November 2001 by Solarpraxis, German and European solar associations, and OTTI Energie Kolleg. It was a current and practical forum for the solar market, at which subjects such as market trends, company funding, project funding, marketing and sales were discussed. At the same time, it was a co-operation exchange for the solar industry, finance, commerce and consultants. [German] Vom 15. bis 17. November 2001 veranstaltet die Solarpraxis zusammen mit deutschen und europaeischen Solarverbaenden sowie dem OTTI Energie Kolleg in Berlin das 2. Forum Solarpraxis. Erstmals wird damit fuer Themen rund um den Solarmarkt ein aktuelles und praxisnahes Forum geschaffen. Stichworte sind Marktentwicklung, Firmenfinanzierung, Projektfinanzierung, Marketing und Verkauf. Gleichzeitig wird ist das Forum Solarpraxis eine Kooperationsboerse zwischen Solarbranche, Finanzwelt, Grosshandel und Unternehmensberatungen. (orig.)

  10. Emphasizing Foreign Language Use to International Marketing Students: A Situational Exercise That Mimics Real-World Challenges

    OpenAIRE

    Melin, Tracy L.; Ray, Nina M.

    2007-01-01

    An international marketing exercise consists of students orally providing an introduction in a chosen foreign language of what they, as potential salespeople, might say to a client in that country. Students speak (not read) their prepared statements to the class and are leniently, yet constructively, evaluated on language use and pronunciation and marketing credibility. The objective is to emulate a real business situation and to show students the challenges of working with different language...

  11. Tendencies in the application of the concept of catalogue marketing in Republic of Serbia and the world

    Directory of Open Access Journals (Sweden)

    Zelić Darko

    2010-01-01

    Full Text Available Catalogue marketing is one of the direct marketing channels. This concept implies making a lot of strategic and tactical decisions that determine catalogue's market success. Catalogue sales is most developed in USA (where it originated and in Western Europe. In Serbia, catalogue marketing is applied just in last few years, since big foreign catalog companies started their business in this region. Here, catalogue marketing is at a lower level of development than in the developed countries, and it comprises a minor part of total trade turnover. The positive thing is that now there are laws that regulates this area, which is encouraging for its development. More and more companies in Serbia are presenting and selling its product range through Internet catalogs. The survey, whose results are briefly presented in this article, showed that consumers in Serbia shop less by print catalogues than consumers in developed countries, and that the partition of those who buy through e-catalogues is increasing. With the increase in standard of living, and overcoming the crisis, there is a chance for catalogue marketing to become much more important concept among consumers and companies in Serbia.

  12. Running Out of and Into Oil: Analyzing Global Oil Depletion and Transition Through 2050

    Energy Technology Data Exchange (ETDEWEB)

    Greene, D.L.

    2003-11-14

    This report presents a risk analysis of world conventional oil resource production, depletion, expansion, and a possible transition to unconventional oil resources such as oil sands, heavy oil and shale oil over the period 2000 to 2050. Risk analysis uses Monte Carlo simulation methods to produce a probability distribution of outcomes rather than a single value. Probability distributions are produced for the year in which conventional oil production peaks for the world as a whole and the year of peak production from regions outside the Middle East. Recent estimates of world oil resources by the United States Geological Survey (USGS), the International Institute of Applied Systems Analysis (IIASA), the World Energy Council (WEC) and Dr. C. Campbell provide alternative views of the extent of ultimate world oil resources. A model of oil resource depletion and expansion for twelve world regions is combined with a market equilibrium model of conventional and unconventional oil supply and demand to create a World Energy Scenarios Model (WESM). The model does not make use of Hubbert curves but instead relies on target reserve-to-production ratios to determine when regional output will begin to decline. The authors believe that their analysis has a bias toward optimism about oil resource availability because it does not attempt to incorporate political or environmental constraints on production, nor does it explicitly include geologic constraints on production rates. Global energy scenarios created by IIASA and WEC provide the context for the risk analysis. Key variables such as the quantity of undiscovered oil and rates of technological progress are treated as probability distributions, rather than constants. Analyses based on the USGS and IIASA resource assessments indicate that conventional oil production outside the Middle East is likely to peak sometime between 2010 and 2030. The most important determinants of the date are the quantity of undiscovered oil, the rate at

  13. 78 FR 9575 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Change to...

    Science.gov (United States)

    2013-02-11

    ... Far West; Change to Administrative Rules Regarding the Transfer and Storage of Excess Spearmint Oil... Committee (Committee). This rule changes the date by which a producer must transfer excess spearmint oil to... December 1. This rule also changes the date that the Committee must pool identified excess oil as reserve...

  14. World tanker tonnage decline seen this year

    Energy Technology Data Exchange (ETDEWEB)

    1978-06-19

    According to a study by the International Association of Independent Tanker Owners (Intertanko), world tanker tonnage will probably decline in 1978 for the first time since World War II; there were about 3800 tankers and combined carriers afloat on 1/1/75, 1000 of which (totaling < 35 million dwt) had been scrapped by 5/1/78; the voyage market has nearly doubled in the past five years, although startup of North Slope oil production, increased North Sea production, and new pipelines in the Middle East have hurt the non-U.S. tanker market; by the early 1980's, new international rules against substandard shipping (tankers without inert-gas plants, crude-washing systems, etc.) may force much otherwise modern tonnage out of the tanker market; and ''an urgently needed temporary conversion of the world's shipbuilding capacity to scrapping is a prerequisite for the revival of the tanker industry''.

  15. The World Oil Industry

    Science.gov (United States)

    Rand, Christopher T.

    1976-01-01

    America's domestic petroleum industry and the international industry have been dominated by seven major firms. Although production costs decreased, sale prices soared with developing political-corporate interrelationships. (MR)

  16. Fatty acid composition of commercial vegetable oils from the French market analysed using a long highly polar column

    Directory of Open Access Journals (Sweden)

    Vingering Nathalie

    2010-05-01

    Full Text Available The increasing concern for consumed fat by western populations has raised the question of the level and the quality of fat intake, especially the composition of fatty acids (FA and their impact on human health. As a consequence, consumers and nutritionists have requested updated publications on FA composition of food containing fat. In the present study, fourteen different kinds of edible oils (rapeseed, olive, hazelnut, argan, groundnut, grape seed, sesame, sunflower, walnut and organic walnut, avocado, wheat germ, and two combined oils were analysed for FA determination using a BPX-70 60 m highly polar GC column. Oils were classified according to the classification of Dubois et al. (2007, 2008. Monounsaturated FA (MUFA group oils, including rapeseed, olive, hazelnut, and avocado oils, contained mainly oleic acid (OA. Groundnut and argan oils, also rich in MUFA, showed in addition high linoleic acid (LA contents. In the polyunsaturated (PUFA group, grape seed oil presented the highest LA content while sunflower, sesame, and wheat germ oils showed noticeable MUFA amounts in addition to high PUFA contents. Walnut oils, also rich in LA, showed the highest linolenic acid (ALA content. The n-6/n-3 ratio of each oil was calculated. Trans-FA (TFA was also detected and quantified. Results were compared with the data published during the past decade, and the slight discrepancies were attributed to differences in origin and variety of seed-cultivars, and in seed and oil processes.

  17. THE LONG-RUN AND SHORT-RUN EFFECTS OF CRUDE OIL PRICE ON METHANOL MARKET IN IRAN

    Directory of Open Access Journals (Sweden)

    Akbar Komijani

    2013-01-01

    Full Text Available Substituting crude oil exports with value-added petrochemical products is one of the main strategies for policy makers in oil-driven economies to isolating the real sectors of economy from oil price volatility. This policy inclination has led to a body of literature in energy economics in recent decades. As a case study, this paper investigates the short-run and long-run relationship between Iran’s oil price and methanol price which is one of the most important non-oil exports of the oil-exporting country. To do so, the weekly data from 18 Jan. 2009 to 18 Sep. 2011 in a VECM framework is applied. The results show that in the long-run, oil price hikes leads to proportional increase in methanol price while in the short-run, this impact is not significant.

  18. Responsibility for the future of the world-paradigm shift in the theory and practice of marketing

    OpenAIRE

    Gábor Rekettye; Erzsébet Hetesi

    2010-01-01

    En las últimas cuatro décadas muchos estudios científicos fueron publicados sobre los impactos medioambientales que amenazan el futuro de nuestro planeta. Estas manifestaciones apenas han afectado el área de marketing, no ha habido ningún cambio paradigmático. La primera parte del artículo trata de los procesos climáticos que amenazan el medio ambiente y la vida cotidiana de la población, y que pueden ser importantes para la formación del futuro del marketing. Hay una relación estrecha entre ...

  19. Sterol composition of virgin olive oil of forty-three olive cultivars from the World Collection Olive Germplasm Bank of Cordoba.

    Science.gov (United States)

    Kyçyk, Onejda; Aguilera, Maria Paz; Gaforio, José Juan; Jiménez, Antonio; Beltrán, Gabriel

    2016-09-01

    In olive oil, sterols constitute the majority of the unsaponifiable fraction. In recent years there has been increased interest in the sterols of olive oil for their health benefits and their importance to virgin olive oil (VOO) quality regulation. Forty-three olive (Olea europaea L.) cultivars from the World Olive Germplasm Bank, IFAPA Centro 'Alameda de Obispo', Cordoba, Spain were studied for their oil sterol composition and total content. The main sterols found in olive oil were β-sitosterol, Δ(5) -avenasterol, campesterol and stigmasterol, most of them showing high variability. Most cultivars showed total sterol contents within the limits established by EU regulations, although 28% of VOOs analysed were outside the limits established for total content and/or for individual sterols. Over the group of cultivars, total sterol contents ranged from 855 to 2185 mg kg(-1) . The high variability observed was due to the genetic component, since other agronomic and technological factors were similar. Because of the high variability, the sterol fraction can be considered as a useful tool to characterize and discriminate monovarietal VOOs. The results can be useful for nutritionists for VOO inclusion in nutrition studies. Furthermore, the variability observed can be applied in olive breeding projects to select the parents of new olive cultivars with an improved sterol fraction. © 2016 Society of Chemical Industry. © 2016 Society of Chemical Industry.

  20. Oils

    Energy Technology Data Exchange (ETDEWEB)

    Cobbett, G.T.B.

    1907-07-08

    Crude petroleum having a density of 850 to 900 is purified with sulfuric acid, decanted, mixed with benzine or petrol, and again treated with sulfuric acid and decanted. The remaining acid and coloring-matter are removed by washing with water, or treating with oxalic acid, zinc carbonate, lead carbonate, calcium carbonate, or oxide of zinc. The product is used as a fuel for internal-combustion engines. Specifications No. 28,104, A.D. 1906, and No. 12,606, A.D. 1907, are referred to. According to the Provisional Specification, the process is applicable to shale or schist oil.

  1. The influence of regulatory fit and interactivity on brand satisfaction and trust in E-health marketing inside 3D virtual worlds (Second Life).

    Science.gov (United States)

    Jin, Seung-A Annie; Lee, Kwan Min

    2010-12-01

    Interactive three-dimensional (3D) virtual environments like Second Life have great potential as venues for effective e-health marketing and e-brand management. Drawing from regulatory focus and interactivity literatures, this study examined the effects of the regulatory fit that consumers experience in interactive e-health marketing on their brand satisfaction and brand trust. The results of a two-group comparison experiment conducted within Second Life revealed that consumers in the regulatory fit condition show greater brand satisfaction and brand trust than those in the regulatory misfit condition, thus confirming the persuasive influence of regulatory fit in e-brand management inside 3D virtual worlds. In addition, a structural equation modeling analysis demonstrated the mediating role of consumers' perceived interactivity in explaining the processional link between regulatory fit and brand evaluation. Theoretical contributions and managerial implications of these findings are discussed.

  2. Buyer panic in crude oil seen easing

    Energy Technology Data Exchange (ETDEWEB)

    Schneidawind, J.

    1979-11-12

    The crude oil spot market declined after events in Iran precipitated stockpiling, while Iranian production cutbacks were smaller than anticipated. A growing spot market is affecting world oil prices with spot prices of $40 to $50 a barrel recorded during early November 1979. Larger stockpiles, however, will compensate for the projected supply cuts and a glut of residual fuels has helped to push prices back down. Some analysts feel that increased Saudi Arabian production is the key supply factor, while others question whether the Iranian cutback was directly ordered by the Ayatollah Khomeini.

  3. Brazil in the global energy world

    Energy Technology Data Exchange (ETDEWEB)

    Kim, Frank D.; Vossoughi, Shapour [University of Kansas (KU), KS (United States)

    2012-07-01

    Brazil is the 10th largest energy consumer in the world and the third largest in the Western Hemisphere, behind the United States and Canada. Total primary energy consumption in Brazil has increased significantly in recent years; and over the past decade, Brazil has made great strides in increasing its total energy production, particularly oil. Brazil has the second-largest crude oil reserves in South America (behind Venezuela), and is one of the fastest growing oil producers in the world. According to United States Energy Information Administration (EIA), Brazil had 12.2 billion barrels of proven oil reserves in 2008. In 2007, Brazil's state owned Petroleo Brasileiro S.A. (PETROBRAS) announced that it had discovered an estimated 5-8 billion barrels of recoverable reserves (including both oil and natural gas) in the Tupi field, located in the Santos Basin. In 2008, subsequent discoveries were announced, to include Jupiter and Carioca (aka Sugar Loaf). Although PETROBRAS has yet to confirm the size of the discoveries, some industry analysts estimate the total extent of recoverable oil and natural gas reserves in the entire pre-salt layer have approached 40 to 80 billion barrels of oil equivalent. The reserves occur below a salt zone that is estimated to be 7,000 meters below the ocean surface. However, Brazil faces many challenges to recover the hydrocarbons to include technical, political, fiscal, and infrastructure hurdles. In spite of the challenges ahead, these discoveries transformed the nature and focus of Brazil's oil industry, economy, and future; and the potential impact of the pre-salt discoveries upon world oil markets is vast. The purpose of this paper is to discuss how the recent discoveries will affect Brazil's future and the impact it will have on the global energy world. (author)

  4. Oil supply security -- Emergency response of IEA countries 2007

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-11-29

    When Hurricane Katrina hit the Gulf of Mexico in 2005, the region's oil production and refining infrastructure was devastated and world energy markets were disrupted. The International Energy Agency decided in a matter of days to bring 60 million barrels of additional oil to the market. The emergency response system worked - the collective action helped to stabilise global markets. Since its founding in 1974, oil supply security has been a core mission of the IEA and the Agency has improved its mechanisms to respond to short-term oil supply disruptions. Nevertheless, numerous factors will continue to test the delicate balance of supply and demand. Oil demand growth will continue to accelerate in Asia; oil will be increasingly produced by a shrinking number of countries; and capacities in the supply chain will need to expand. These are just a few of the challenges facing an already tight market. What are the emergency response systems of IEA countries? How are their emergency structures organised? How prepared is the IEA to deal with an oil supply disruption? This publication addresses these questions. It presents another cycle of rigorous reviews of the emergency response mechanisms of IEA member countries. The goal of these reviews is to ensure that the IEA stays ready to respond effectively to oil supply disruptions. This publication also includes overviews of how China, India and countries of Southeast Asia are progressing with domestic policies to improve oil supply security, based on emergency stocks.

  5. Market Power and Shadow Prices for Nonrenewable Resources: An Empirical Dynamic Model

    OpenAIRE

    Lin, C.-Y. Cynthia; Zhang, Wei

    2011-01-01

    This paper estimates a dynamic model of the world market for nine nonrenewable resources over the period 1970-2004, and tests whether the countries supplying a nonrenewable resource behaved as price-takers or oligopolists. The model generates estimates of the shadow price of the nine minerals with minimal functional form assumptions. The results show that the countries supplying hard coal, lead, and oil behaved as oligopolists during the study period, while the world market for other nonrenew...

  6. Petroleum marketing monthly

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-11-01

    The Petroleum Marketing Monthly (PMM) provides information and statistical data on a variety of crude oils and refined petroleum products. The publication presents statistics on crude oil costs and refined petroleum products sales for use by industry, government, private sector analysts, educational institutions, and consumers. Data on crude oil include the domestic first purchase price, the f.o.b. and landed cost of imported crude oil, and the refiners` acquisition cost of crude oil. Refined petroleum product sales data include motor gasoline, distillates, residuals, aviation fuels, kerosene, and propane. The Petroleum Marketing Division, Office of Oil and Gas, Energy Information Administration ensures the accuracy, quality, and confidentiality of the published data.

  7. Competition between the various fossil-fuel energy resources on the European and World markets in the year 2000

    Energy Technology Data Exchange (ETDEWEB)

    Brunner, G.

    1980-05-01

    This paper looks at probable developments between now and the year 2000 in the role played by each of the major primary energy sources : Oil (still occupies a dominant position but is partially on the decline); natural gas (uncertainty over cost prices); coal (substantial developments in international trade due in the main to the increase in European requirements); and nuclear energy (competition with coal over electricity generation). Also looks at other fossil fuels - where production is limited on the grounds of cost and environmental problems. (In French)

  8. Offshore Oil and Gas Installations Decommissioning in the North Sea. An Assessment of Decommissioning Options & the Market Outlook

    NARCIS (Netherlands)

    Yunyi Chen, Connie

    2012-01-01

    Summary The decommissioning of offshore oil and gas installations is becoming an increasingly crucial issue to the oil and gas industry as a large number of assets within the sector are approaching the end of their economic life. Globally, there are over

  9. The world's most spectacular marine hydrocarbon seeps (Coal Oil Point, Santa Barbara Channel, California): Quantification of emissions

    Science.gov (United States)

    Hornafius, J. Scott; Quigley, Derek; Luyendyk, Bruce P.

    1999-09-01

    We used 50 kHz sonar data to estimate natural hydrocarbon emission rates from the 18 km2 marine seep field offshore from Coal Oil Point, Santa Barbara, California. The hydrocarbon gas emission rate is 1.7 ± 0.3 × 105 m3 d-1 (including gas captured by a subsea seep containment device) and the associated oil emission rate is 1.6 ± 0.2 × 104 Ld-1 (100 barrels d-1). The nonmethane hydrocarbon emission rate from the gas seepage is 35±7 td-1 and a large source of air pollution in Santa Barbara County. Our estimate is equal to twice the emission rate from all the on-road vehicle traffic in the county. Our estimated methane emission rate for the Coal Oil Point seeps (80±12 td-1) is 4 times higher than previous estimates. The most intense areas of seepage correspond to structural culminations along anticlinal axes. Seep locations are mostly unchanged from those documented in 1946, 1953, and 1973. An exception is the seepage field that once existed near offshore oil platform Holly. A reduction in seepage within a 1 km radius around this offshore platform is correlated with reduced reservoir pressure beneath the natural seeps due to oil production. Our findings suggest that global emissions of methane from natural marine seepage have been underestimated and may be decreasing because of oil production.

  10. Quantifying uncertainties influencing the long-term impacts of oil prices on energy markets and carbon emissions

    Science.gov (United States)

    McCollum, David L.; Jewell, Jessica; Krey, Volker; Bazilian, Morgan; Fay, Marianne; Riahi, Keywan

    2016-07-01

    Oil prices have fluctuated remarkably in recent years. Previous studies have analysed the impacts of future oil prices on the energy system and greenhouse gas emissions, but none have quantitatively assessed how the broader, energy-system-wide impacts of diverging oil price futures depend on a suite of critical uncertainties. Here we use the MESSAGE integrated assessment model to study several factors potentially influencing this interaction, thereby shedding light on which future unknowns hold the most importance. We find that sustained low or high oil prices could have a major impact on the global energy system over the next several decades; and depending on how the fuel substitution dynamics play out, the carbon dioxide consequences could be significant (for example, between 5 and 20% of the budget for staying below the internationally agreed 2 ∘C target). Whether or not oil and gas prices decouple going forward is found to be the biggest uncertainty.

  11. World Energy Outlook 2010

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2010-11-09

    The world appears to be emerging from the worst economic crisis in decades. Many countries have made pledges under the Copenhagen Accord to reduce greenhouse-gas emissions. Commitments have also been made by the G-20 and APEC to phase out inefficient fossil-fuel subsidies. Are we, at last, on the path to a secure, reliable and environmentally sustainable energy system? Updated projections of energy demand, production, trade and investment, fuel by fuel and region by region to 2035 are provided in the 2010 edition of the World Energy Outlook (WEO). It includes, for the first time, a new scenario that anticipates future actions by governments to meet the commitments they have made to tackle climate change and growing energy insecurity. WEO-2010 shows: what more must be done and spent to achieve the goal of the Copenhagen Accord to limit the global temperature increase to 2 deg. C and how these actions would impact on oil markets; how emerging economies -- led by China and India -- will increasingly shape the global energy landscape; what role renewables can play in a clean and secure energy future; what removing fossil-fuel subsidies would mean for energy markets, climate change and state budgets; the trends in Caspian energy markets and the implications for global energy supply; the prospects for unconventional oil; and how to give the entire global population access to modern energy services. With extensive data, projections and analysis, this publication provides invaluable insights into how the energy system could evolve over the next quarter of a century. The book is essential reading for anyone with a stake in the energy sector.

  12. The Outlook for U.S. Oil Dependence

    Energy Technology Data Exchange (ETDEWEB)

    Greene, D.L.

    1995-01-01

    Market share OPEC lost in defending higher prices from 1979-1985 is being steadily regained and is projected to exceed 50% by 2000. World oil markets are likely to be as vulnerable to monopoly influence as they were 20 years ago, as OPEC regains lost market share. The US economy appears to be as exposed as it was in the early 1970s to losses from monopoly oil pricing. A simulated 2-year supply reduction in 2005-6 boosts OPEC revenues by roughly half a trillion dollars and costs the US economy an approximately equal amount. The Strategic Petroleum Reserve appears to be of little benefit against such a determined, multi-year supply curtailment either in reducing OPEC revenues or protecting the US economy. Increasing the price elasticity of oil demand and supply in the US and the rest of the world, however, would be an effective strategy.

  13. Saving oil in a hurry

    Energy Technology Data Exchange (ETDEWEB)

    none

    2005-07-01

    During 2004, oil prices reached levels unprecedented in recent years. Though world oil markets remain adequately supplied, high oil prices do reflect increasingly uncertain conditions. Many IEA member countries and non-member countries alike are looking for ways to improve their capability to handle market volatility and possible supply disruptions in the future. This book aims to provide assistance. It provides a new, quantitative assessment of the potential oil savings and costs of rapid oil demand restraint measures for transport. Some measures may make sense under any circumstances; others are primarily useful in emergency situations. All can be implemented on short notice ? if governments are prepared. The book examines potential approaches for rapid uptake of telecommuting, ?ecodriving?, and car-pooling, among other measures. It also provides methodologies and data that policymakers can use to decide which measures would be best adapted to their national circumstances. This ?tool box? may help countries to complement other measures for coping with supply disruptions, such as use of strategic oil stocks.

  14. Diversification of Oil and Gas Companies’ Activities in the Condition of Oil Prices Reduction and Economic Sanctions

    Directory of Open Access Journals (Sweden)

    Anastasia V. Sheveleva

    2016-01-01

    Full Text Available This article analyzes the influence of the economic sanctions imposed from the USA and the EU and oil prices reduction on the oil and gas companies and the directions of diversification of their activity as a method of management of price risks are considered. In the modern dynamic and quickly developing world, in the conditions of globalization and market economy, the oil and gas companies are affected by various risks which can exert negative impact on production and financial results. Risks can arise in absolutely various spheres, beginning from natural and technological hazards, and finishing with price risks. Sharp reduction of oil prices and decrease in demand for energy resources in the world markets, first of all in the European countries, input of financial or technological sanctions from the USA and Europe against Russia in 2014 has caused necessity of search a new more effective methods of price risks management of the oil and gas company. The methods of price risk management include the creation of commodity reserves, the establishment of a reserve fund, long-term contracts, subsidies from the state and the diversification of activities. The most effective it is possible to offer diversification of oil and gas companies' activity. It is expedient to carry out diversification of oil and gas companies' activity in such directions as geographical diversification of the oil, oil products and gas realization directions, geographical diversification of oil and gas companies' purchasing activity, diversification of oil, oil products and gas transportation ways, diversification of oil and gas companies' business. This approach allows to expand the activities of the oil and gas companies and create additional ways to generate revenue and enhance efficiency of oil and gas companies.

  15. A revealed preference approach to valuing non-market recreational fishing losses from the Deepwater Horizon oil spill.

    Science.gov (United States)

    Alvarez, Sergio; Larkin, Sherry L; Whitehead, John C; Haab, Tim

    2014-12-01

    At an estimated 206 million gallons, the Deepwater Horizon (DWH) is the largest marine oil spill in the history of the United States. In this paper we develop a series of random utility models of site choice by saltwater anglers in the Southeast US and estimate monetary compensation for recreational losses due to the DWH oil spill. Heterogeneity in angler preferences is accounted for by using mixed logit models, and different compensation measures for shore-based, private boat, and for-hire anglers are estimated. Results indicate that willingness to pay for oil spill prevention varies by fishing mode and anglers fishing from shore and private boats exhibit heterogeneous preferences for oil spill avoidance. In addition, the total monetary compensation due to anglers is estimated at USD 585 million. Copyright © 2014 Elsevier Ltd. All rights reserved.

  16. Simulation of thin-film deodorizers in palm oil refining

    DEFF Research Database (Denmark)

    Ceriani, Roberta; Meirelles, Antonio J.A.; Gani, Rafiqul

    2010-01-01

    could be found in the open literature. This paper tries to fill this gap by presenting results from the study of the effect of processing variables, such as temperature, pressure and percentage of stripping steam, in the final quality of product (deacidified palm oil) in terms of final oil acidity......As the need for healthier fats and oils (natural vitamin and trans fat contents) and interest in biofuels are growing, many changes in the world's vegetable oil market are driving the oil industry to developing new technologies and recycling traditional ones. Computational simulation is widely used...... in the chemical and petrochemical industries as a tool for optimization and design of (new) processes, but that is not the case for the edible oil industry. Thin-film deodorizers are novel equipment developed for steam deacidification of vegetable oils, and no work on the simulation of this type of equipment...

  17. On the cointegration and causality between oil market, nuclear energy consumption, and economic growth: evidence from developed countries

    Energy Technology Data Exchange (ETDEWEB)

    Naser, Hanan [Arab Open University, Faculty of Business Studies, A' ali (Bahrain)

    2017-06-15

    This study uses Johansen cointegration technique to examine both the equilibrium relationship and the causality between oil consumption, nuclear energy consumption, oil price and economic growth. To do so, four industrialized countries including the USA, Canada, Japan, and France are investigated over the period from 1965 to 2010. The cointegration test results suggest that the proposed variables tend to move together in the long run in all countries. In addition, the causal linkage between the variables is scrutinized through the exogeneity test. The results point that energy consumption (i.e., oil or nuclear) has either a predictive power for economic growth, or feedback impact with real GDP growth in all countries. Results suggest that oil consumption is not only a major factor of economic growth in all the investigated countries, it also has a predictive power for real GDP in the USA, Japan, and France. Precisely, increasing oil consumption by 1% increases the economic growth in Canada by 3.1%., where increasing nuclear energy consumption by 1% in Japan and France increases economic growth by 0.108 and 0.262%, respectively. Regarding nuclear energy consumption-growth nexus, results illustrate that nuclear energy consumption has a predictive power for real economic growth in the USA, Canada, and France. On the basis of speed of adjustment, it is concluded that there is bidirectional causality between oil consumption and economic growth in Canada. On the other hand, there is bidirectional causal relationship between nuclear energy consumption and real GDP growth in Japan. (orig.)

  18. Monetarism and the oil price crisis

    Energy Technology Data Exchange (ETDEWEB)

    Balogh, T.

    Economists are divided in their interpretations of the oil price crisis into those supporting monetarism and the neoclassical Keynesian philosophy. These two interpretations are applied to the non-Soviet world prior to the 1973 oil embargo. The changes are shown to be due to a retreat from the inflation-producing Keynesian policies when they failed to end the boom-and-bust market cycles. If serious world depression is to be avoided, the author suggests that the high balance-of-payments surpluses of the desert oil countries must be accepted and global efforts to fight inflation and restore strong currencies must be resisted, although a mechanism is needed to deter speculative attacks on currencies. Sensible management of world monetary systems are needed to avoid a repetition of the 1930s, when monetarism brought social and political problems. 25 references.

  19. Analysis of the impact of crude oil price fluctuations on China's stock market in different periods-Based on time series network model

    Science.gov (United States)

    An, Yang; Sun, Mei; Gao, Cuixia; Han, Dun; Li, Xiuming

    2018-02-01

    This paper studies the influence of Brent oil price fluctuations on the stock prices of China's two distinct blocks, namely, the petrochemical block and the electric equipment and new energy block, applying the Shannon entropy of information theory. The co-movement trend of crude oil price and stock prices is divided into different fluctuation patterns with the coarse-graining method. Then, the bivariate time series network model is established for the two blocks stock in five different periods. By joint analysis of the network-oriented metrics, the key modes and underlying evolutionary mechanisms were identified. The results show that the both networks have different fluctuation characteristics in different periods. Their co-movement patterns are clustered in some key modes and conversion intermediaries. The study not only reveals the lag effect of crude oil price fluctuations on the stock in Chinese industry blocks but also verifies the necessity of research on special periods, and suggests that the government should use different energy policies to stabilize market volatility in different periods. A new way is provided to study the unidirectional influence between multiple variables or complex time series.

  20. ENVIR IONMENTAL ISSUES OF COMPETITIVENESS OF RUSSIAN MULTINATIONAL OIL AND GAS CORPORATIONS IN LIQUEFIED NATURAL GAS MARKETS

    Directory of Open Access Journals (Sweden)

    N. A. Piskulova

    2011-01-01

    Full Text Available Owing to tough state environmental management requirements and ecological regulations, oil and gas multinational corporations (MNC make more and more attempts to mitigate negative environmental impacts resulting from their industrial activities, their competitiveness beingstrengthened therewith. The use of liquefied natural gas (LNG is associated with less environmental impact in comparison with oil and coal, particularly so far as the hotbed effect is concerned. In the field of innovative technological development, Russian MNC drag so far well behind most advanced western corporations who provide for less negative impact of their production activities upon environment.

  1. Noncommunicable diseases: global health priority or market opportunity? An illustration of the World Health Organization at its worst and at its best.

    Science.gov (United States)

    Katz, Alison Rosamund

    2013-01-01

    The promotion of noncommunicable diseases (NCDs) as a global health priority started a decade ago and culminated in a 2011 United Nations high-level meeting. The focus is on four diseases (cardiovascular and chronic respiratory diseases, cancers, and diabetes) and four risk factors (tobacco use, unhealthy diet, physical inactivity, and harmful alcohol use). The message is that disease and death are now globalized, risk factors are overwhelmingly behavioral, and premature NCD deaths, especially in low- and middle-income countries, are the concern. The NCD agenda is promoted by United Nations agencies, foundations, institutes, and organizations in a style that suggests a market opportunity. This "hard sell" of NCDs contrasts with the sober style of the World Health Organization's Global Burden of Disease report, which presents a more nuanced picture of mortality and morbidity and different implications for global health priorities. This report indicates continuing high levels of premature death from infectious disease and from maternal, perinatal, and nutritional conditions in low-income countries and large health inequalities. Comparison of the reports offers an illustration of the World Health Organization at its worst, operating under the influence of the private sector, and at its best, operating according to its constitutional mandate.

  2. Produtividade de grãos e óleo de genótipos de amendoim para o mercado oleoquímico Grain and oil yield of peanut genotypes for the oil chemistry market

    Directory of Open Access Journals (Sweden)

    Roseane Cavalcanti dos Santos

    2012-03-01

    Full Text Available Linhagens de elite e cultivares de amendoim rasteiro foram avaliadas quanto às suas produtividades de grãos e de óleo, visando uma posterior indicação ao mercado de óleo comestível ou combustível. Os genótipos foram cultivados no período das águas, durante dois anos, em Barbalha, CE, sob o delineamento experimental de blocos ao acaso, com cinco repetições. A colheita foi efetuada entre 110 e 135 dias após o plantio. As variáveis analisadas foram produtividade em vagens, sementes e óleo. O óleo bruto foi extraído aplicando-se a tecnologia convencional de soxhlet, utilizando-se éter de petróleo como solvente. Posteriormente, procedeu-se às análises dos ácidos graxos por meio de cromatografia gasosa. Baseando-se nos ensaios de produção, os materiais de maior produção de grãos foram LViPE-06 e BRS Pérola Branca, com médias de 3,04 t ha-1 de vagens e 2,13 t ha-1 de sementes. Esses materiais também se destacaram para o segmento oleoquímico, baseando-se no teor de óleo e na relação de ácidos graxos O/L, que se situaram em 51% e 1,9, respectivamente.Top lines and cultivars of runner peanut genotypes were analyzed as to grain and oil yield, aiming further recommendation to edible or combustible oil market. The genotypes were cultivated during wet seasons for two years, at the city of Barbalha, state of Ceará, Brazil, by using a complete randomized block design with five replicates. The harvest took place from 110 to 135 days after planting. Pod, grain and oil yields were registered in each plot. Crude oil was extracted by soxhlet protocol, by using petroleum ether as a solvent. Afterwards, fatty acids were analyzed by gas chromatography. Based on yield tests, LViPE-06 and BRS Pérola Branca showed the highest grain yields, with pod and seed yield averages of 3.04 kg ha-1 and 2.13 kg ha-1, respectively. These genotypes also stood out as to oil chemistry industry, based on oil content and ratio of oleic/ linoleic fatty

  3. World Biofuels Study

    Energy Technology Data Exchange (ETDEWEB)

    Alfstad,T.

    2008-10-01

    This report forms part of a project entitled 'World Biofuels Study'. The objective is to study world biofuel markets and to examine the possible contribution that biofuel imports could make to help meet the Renewable Fuel Standard (RFS) of the Energy Independence and Security Act of 2007 (EISA). The study was sponsored by the Biomass Program of the Assistant Secretary for Energy Efficiency and Renewable Energy (EERE), U.S. Department of Energy. It is a collaborative effort among the Office of Policy and International Affairs (PI), Department of Energy and Oak Ridge National Laboratory (ORNL), National Renewable Energy Laboratory (NREL) and Brookhaven National Laboratory (BNL). The project consisted of three main components: (1) Assessment of the resource potential for biofuel feedstocks such as sugarcane, grains, soybean, palm oil and lignocellulosic crops and development of supply curves (ORNL). (2) Assessment of the cost and performance of biofuel production technologies (NREL). (3) Scenario-based analysis of world biofuel markets using the ETP global energy model with data developed in the first parts of the study (BNL). This report covers the modeling and analysis part of the project conducted by BNL in cooperation with PI. The Energy Technology Perspectives (ETP) energy system model was used as the analytical tool for this study. ETP is a 15 region global model designed using the MARKAL framework. MARKAL-based models are partial equilibrium models that incorporate a description of the physical energy system and provide a bottom-up approach to study the entire energy system. ETP was updated for this study with biomass resource data and biofuel production technology cost and performance data developed by ORNL and NREL under Tasks 1 and 2 of this project. Many countries around the world are embarking on ambitious biofuel policies through renewable fuel standards and economic incentives. As a result, the global biofuel demand is expected to grow very

  4. Shale Oil Value Enhancement Research

    Energy Technology Data Exchange (ETDEWEB)

    James W. Bunger

    2006-11-30

    Raw kerogen oil is rich in heteroatom-containing compounds. Heteroatoms, N, S & O, are undesirable as components of a refinery feedstock, but are the basis for product value in agrochemicals, pharmaceuticals, surfactants, solvents, polymers, and a host of industrial materials. An economically viable, technologically feasible process scheme was developed in this research that promises to enhance the economics of oil shale development, both in the US and elsewhere in the world, in particular Estonia. Products will compete in existing markets for products now manufactured by costly synthesis routes. A premium petroleum refinery feedstock is also produced. The technology is now ready for pilot plant engineering studies and is likely to play an important role in developing a US oil shale industry.

  5. Is the extra virgin olive oil market facing a process of differentiation? A hedonic approach to disentangle the effect of quality attributes

    Directory of Open Access Journals (Sweden)

    Cabrera, E. R.

    2015-12-01

    Full Text Available The differentiation process by quality attributes continues to be an ongoing issue in the Spanish olive oil market. In addition, there is a significant percentage of uninformed consumers with erroneous and confusing ideas concerning this product of daily use. By estimating a hedonic price function using multiple regression analysis, this paper examines the price structure of extra virgin olive oil (EVOO as well as the contribution of its attributes to the consumers’ utility function in comparison with other olive oils. The price and attributes have been collected from the labelling of the products at the main supermarkets in two olive oil-producing cities of southern Spain. The results show that the EVOO price is higher in products whose labels clearly indicate either the acidity or the olive variety, and bear the “Certified Quality” of the Andalusian logo. Nonetheless, several key attributes for a differentiation of quality were no significant such as flavor and PDO. The evaluation of these attributes implies the emergence of an incipient differentiation process. Furthermore, brands have an impact on the price of EVOO but it depends on whether they are private or manufacturer’s brands. This study provides insight into the Andalusian EVOO market as well as guidance for marketing strategies.La diferenciación entre calidades de aceite de oliva es una tarea aún pendiente del sector oleícola, que se enfrenta a una gran cantidad de consumidores desinformados, que tienen ideas confusas y erróneas sobre un alimento de uso cotidiano. A través de la estimación de la función de precios hedónicos, este trabajo analiza la estructura del precio del aceite de oliva virgen extra (AOVE así como los atributos que le añaden o le restan valor, con el objetivo de identificar en qué medida el mercado está poniendo en valor determinados atributos que diferencian al AOVE de otros aceites de oliva. La información necesaria sobre precios y atributos

  6. DEVELOPMENT OF TIGHT OIL RESOURCES IN USA: PROFITABILITY OF EXPLOITATION AND EFFECT OF MACROECONOMIC INDICATORS IN VOLATILE OIL PRICE ENVIRONMENT

    Directory of Open Access Journals (Sweden)

    Kristina Strpić

    2017-01-01

    Full Text Available Large scale development of tight oil resources in US started after 2010. with following five-year period of favorable steady increase in crude oil price. During this relatively short expansion cycle, operating and capital expenses changed drastically for main tight oil plays due to technological improvements in both well drilling and completion, expansion of service sector as well as loose government monetary policy which allowed favorable financing. This paper analyzed trends in costs during expansion period, as well as correlation of oil price to number of operating rigs and production quotas. After 2008/2009. world financial crisis economy recovery in US was somewhat sluggish and it caused extreme volatile environment in both equity and commodity markets. In such volatile environment intra-day crude oil prices, as well as other commodities and equities, show significant reaction to monthly published macroeconomic indicator reports, which give better overviews of trends in economic recovery. Prior to announcement, these reports always have forecasted value determined by consensus among market analysts. Therefore, any positive or negative surprise in real value tends to influence price of oil. This paper investigated influence of such macroeconomic reports to closing intraday oil price, as well as effect of other important daily market indices. Analysis showed that only Producer Price Index (PPI, among other indicators, has statistical significance of affecting intraday closing oil price.

  7. Biotechnologie : marchés et engagement des sociétés pétrolières Biotechnology: Markets and Commitments of Oil Companies

    Directory of Open Access Journals (Sweden)

    Torck B.

    2006-11-01

    'aspect catalyse, les biocarburants, et certaines se lancent dès maintenant dans le génie génétique. L'institut Français du Pétrole a démarré dans les années 60 un programme en biotechnologie et dispose de moyens pour développer des procédés depuis les études de base jusqu'au stade industriel. La plate-forme de Soustons, créée par la GIE ASCAF en 1985, possède des équipements (Machine Stake-Technip, fermenteurs de 50 m3. . . permettant le développement de projets très variés de biotechnologie. Interest in biotechnologies has increased as the result of the development, after 1975, of techniques based on genetic engineering (rDNA, fusion. Altough forecasts are difficult in this new and rapidly expanding field, the world market for biotechnologies could reach $150 billion in the year 2000, including 40 to 60% for the health, farming and food sectors. Other sectors are also concerned, such as environment, energy, bioengineering (bioreactors, immobilized enzymes, membranes, chromatography, etc. and chemistry. From the economic standpoint, biotechnologies are better suited for the production of high value-added substances than heavy-tonnage products. Products undergoing extensive development are enzymes, amino acids, biopolymers, etc. For heavier-tonnage products, biotechnologicaI routes come up against economic realities, and in particular against the comparative prices of oil and grain or sugar. Processes that are not profitable for the time being have recently been developed for products such as acrylamide, propylene oxide, hydroquinone, nylon, polyphenylene and diacids. The United States is maintaining its leadership. Japan is on the verge of catching up, while the European model is characterized by difficulties of transferral to industry. The leading chemical firms such as Rhône-Poulenc and Imperial Chemical Industries (ICI already have a long past in biotechnologies, but others such as Monsanto, Du Pont and Mitsubishi have recently entered the field. An

  8. The effect of biodiesel policies on world biodiesel and oilseed prices

    NARCIS (Netherlands)

    Drabik, D.; Gorter, de H.; Timilsina, G.R.

    2014-01-01

    A theoretical and empirical model is developed to analyze the effect of a biodiesel mandate, a tax exemption (tax credit) and an exogenous diesel price shock on world soybean and canola markets. The jointness in crushing oil and meal from the oilseed reduces the size of the link between biodiesel

  9. Conceptual Approach to Formation of Competitiveness of the Leading International Airports under Conditions of the World Trajectory of the Airline Market Development

    Directory of Open Access Journals (Sweden)

    Sydorenko Kateryna V.

    2014-03-01

    Full Text Available Potential of competitiveness of the airport, as any other enterprise of the service sphere, is determined by the corporate power of the producer of these values. The issue of development of the infrastructure development strategy of leading international airports, which sets the goal of solution of the problem of complete, timely, uninterrupted and high quality satisfaction of the fast growing demand of services consumers with minimal costs, becomes extremely urgent under conditions of dynamic development of the world aviation. However, the airport infrastructure is rather wasteful and requires permanent investments into renovation of the infrastructure objects and technological systems. The airport infrastructure is a set of objects, which are divided, by their functional purpose, into objects that directly service the technological process of air conveyance (sphere of aviation activity and objects that create additional services. Increase of competitiveness of the airport in the world economic environment envisages timely modernisation and harmonious development of its objects in accordance with requirements of the airport services market on the basis of rational resource provision and efficient management of the property complex at all stages of functioning and development. The author studies aspects of formation of the competitive strategy of the airport, identifies strategic priorities of development of the airport infrastructure, including through the mechanism of state-private partnership, use of transit potential, strengthening of the logistical component, increase of quality of servicing, and diversification of activity by means of strengthening its non-aviation component with consideration of goals of efficient integration in the national and global environment.

  10. World energy outlook to the year 2010

    Energy Technology Data Exchange (ETDEWEB)

    1993-01-01

    International Energy Agency examines the evolution of world energy markets through to the year 2010. World demand for energy is expected to increase significantly through the first decade of the next century as population and real incomes rise. Demand will increase in OECD countries but growth will be strongest in non-OECD countries - particularly in China, India and the dynamic Asian economies. By 2010, OECD countries will account for less than half of total world oil consumption. On the supply side, the study projects a large increase in the role of natural gas, especially in Europe. The impacts of these and other supply and demand developments on energy use patterns will be significant. As the world enters the 21st century, electricity will become an increasingly important energy form. How electricity is generated, as well as how transportation systems develop, will affect how successful countries will be in meeting their energy needs and achieving their environmental objectives. 16 figs., 24 tabs.

  11. Logistics Aspect of Offshore Support Vessels on the West Africa Market

    Directory of Open Access Journals (Sweden)

    Ivica Skoko

    2013-12-01

    Full Text Available With the rapidly increasing global energy needs, offshore oil production has become an attractive source of energy. Supplying offshore oil production installations is a complex logistics problem that hinges on many factors with significant uncertainties. So, it is critical to provide the necessary supplies and services without interruption. In a typical offshore oil production effort, oil companies charter most or all drilling units as well as offshore supply vessels (OSV. The type and duration of charter contract has direct impact on the project budget as vessels market is closely correlated with the world market crude oil price which can have daily significant fluctuations. As the region of West Africa is one of the world’s busiest offshore exploration and oil production markets employing 12% of the world’s fleet, exploring its issues, was taken to study the relations between daily OSV rates and crude oil price. The research results presented in this paper show correlation between OSV daily rates and crude oil price with broader fluctuations in crude oil price. 

  12. International oil and natural gas demand projections: an econometric model for 2008-2030; Projecao das demandas mundiais de petroleo e de gas natural: aplicacao de um modelo agregado para o periodo 2008-2030

    Energy Technology Data Exchange (ETDEWEB)

    Machado, Giovani; Aragao, Amanda; Valle, Ricardo Nascimento e Silva do [Empresa de Pesquisa Energetica (EPE), Rio de Janeiro, RJ (Brazil)

    2008-07-01

    This study forecasts the world oil and gas demands for 2008-2030 by applying econometric formulations. The basic variables are world GDP and Brent price. The forecast assumptions are: sound world economic growth remains, despite falling rates during the period; Brent prices continue high, but in a lower level, in 2006 constant prices, in harmony with Energy Information Administration reference scenario. Findings show that, should assumptions prove to be correct, world oil and gas demands will reach 118 million bbl/d and 5 trillion cubic meters in 2030, respectively. In other words, world oil demand will grow at 1.4% per year, while world gas demand will increase at 2.5% per year. Although such figures are similar to those from other institutions (EIA, IEA and OPEC), structural changes in oil and gas markets, catalyzed by high oil prices and energy and environmental policies, may reduce forecast strength of the specifications proposed. (author)

  13. Heavy crude oils - From Geology to Upgrading - An Overview

    Energy Technology Data Exchange (ETDEWEB)

    Huc, A.Y.

    2010-07-01

    Heavy oils, extra-heavy oils and tar sands are major players for the future of energy. They represent a massive world resource, at least the size of conventional oils. They are found all over the world but Canada and Venezuela together account, by themselves, for more than half of world deposits. They share the same origin as the lighter conventional oils, but their geological fate drove them into thick, viscous tar-like crude oils. Most of them result from alteration processes mediated by microbial degradation. They are characterized by a low content of lighter cuts and a high content of impurities such as sulfur and nitrogen compounds and metals; so, their production is difficult and deployment of specific processes is required in order to enhance their transportability and to upgrade them into valuable products meeting market needs, and honouring environmental requirements. Although these resources are increasingly becoming commercially producible, less than 1% of total heavy crude oil deposits worldwide are under active development. The voluntarily wide scope of this volume encompasses geology, production, transportation, upgrading, economics and environmental issues of heavy oils. It does not pretend to be exhaustive, but to provide an authoritative view of this very important energy resource. Besides presenting the current status of knowledge and technology involved in exploiting heavy oils, the purpose is to provide an insight into technical, economic and environmental challenges that should be taken up in order to increase the efficiency of production and processing, and finally to give a prospective view of the emerging technologies which will contribute to releasing the immense potential reserves of heavy oil and tar deposits. Contents: Part 1. Heavy Crude Oils.1. Heavy Crude Oils in the Perspective of World Oil Demand. 2. Definitions and Specificities. 3. Geological Origin of Heavy Crude Oils. 4. Properties and composition. Part 2. Reservoir Engineering

  14. Marginal Cost Pricing in a World without Perfect Competition: Implications for Electricity Markets with High Shares of Low Marginal Cost Resources

    Energy Technology Data Exchange (ETDEWEB)

    Frew, Bethany A. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Clark, Kara [National Renewable Energy Lab. (NREL), Golden, CO (United States); Bloom, Aaron P. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Milligan, Michael [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2017-12-02

    A common approach to regulating electricity is through auction-based competitive wholesale markets. The goal of this approach is to provide a reliable supply of power at the lowest reasonable cost to the consumer. This necessitates market structures and operating rules that ensure revenue sufficiency for all generators needed for resource adequacy purposes. Wholesale electricity markets employ marginal-cost pricing to provide cost-effective dispatch such that resources are compensated for their operational costs. However, marginal-cost pricing alone cannot guarantee cost recovery outside of perfect competition, and electricity markets have at least six attributes that preclude them from functioning as perfectly competitive markets. These attributes include market power, externalities, public good attributes, lack of storage, wholesale price caps, and ineffective demand curve. Until (and unless) these failures are ameliorated, some form of corrective action(s) will be necessary to improve market efficiency so that prices can correctly reflect the needed level of system reliability. Many of these options necessarily involve some form of administrative or out-of-market actions, such as scarcity pricing, capacity payments, bilateral or other out-of-market contracts, or some hybrid combination. A key focus with these options is to create a connection between the electricity market and long-term reliability/loss-of-load expectation targets, which are inherently disconnected in the native markets because of the aforementioned market failures. The addition of variable generation resources can exacerbate revenue sufficiency and resource adequacy concerns caused by these underlying market failures. Because variable generation resources have near-zero marginal costs, they effectively suppress energy prices and reduce the capacity factors of conventional generators through the merit-order effect in the simplest case of a convex market; non-convexities can also suppress prices.

  15. This time it's different. An inevitable decline in world petroleum production will keep oil product prices high, causing military conflicts and shifting wealth and power from democracies to authoritarian regimes

    Energy Technology Data Exchange (ETDEWEB)

    Leder, Frederic [2742 Sturges Highway, Westport, CT 06880 (United States); Shapiro, Judith N. [796 Sport Hill Road, Easton, CT 06612 (United States)

    2008-08-15

    There is virtual agreement among geologists that world production of conventional oil will peak at some point in the future. Oil, after all, is a finite resource, while demand will only grow over time. Geologists disagree, however, exactly when the peak will occur. Using data from the International Energy Agency, the US Department of Energy, the Association for the Study of Peak Oil and Gas, and petroleum industry sources, we argue that conventional oil production will reach a worldwide maximum within the next 5-10 years, earlier than generally estimated, thus leaving a very short time frame within which to plan for conversion to alternative sources of energy. Unless planning is initiated immediately, the United States and other Western democracies will see their positions in the global economy undercut as military conflicts over limited energy resources increase, and wealth and power are shifted to authoritarian regimes in Russia, Venezuela, Africa and the Middle East. (author)

  16. Costs of U.S. Oil Dependence: 2005 Update

    Energy Technology Data Exchange (ETDEWEB)

    Greene, D.L.

    2005-03-08

    For thirty years, dependence on oil has been a significant problem for the United States. Oil dependence is not simply a matter of how much oil we import. It is a syndrome, a combination of the vulnerability of the U.S. economy to higher oil prices and oil price shocks and a concentration of world oil supplies in a small group of oil producing states that are willing and able to use their market power to influence world oil prices. Although there are vitally important political and military dimensions to the oil dependence problem, this report focuses on its direct economic costs. These costs are the transfer of wealth from the United States to oil producing countries, the loss of economic potential due to oil prices elevated above competitive market levels, and disruption costs caused by sudden and large oil price movements. Several enhancements have been made to methods used in past studies to estimate these costs, and estimates of key parameters have been updated based on the most recent literature. It is estimated that oil dependence has cost the U.S. economy $3.6 trillion (constant 2000 dollars) since 1970, with the bulk of the losses occurring between 1979 and 1986. However, if oil prices in 2005 average $35-$45/bbl, as recently predicted by the U.S. Energy Information Administration, oil dependence costs in 2005 will be in the range of $150-$250 billion. Costs are relatively evenly divided between the three components. A sensitivity analysis reflecting uncertainty about all the key parameters required to estimate oil dependence costs suggests that a reasonable range of uncertainty for the total costs of U.S. oil dependence over the past 30 years is $2-$6 trillion (constant 2000 dollars). Reckoned in terms of present value using a discount rate of 4.5%, the costs of U.S. oil dependence since 1970 are $8 trillion, with a reasonable range of uncertainty of $5 to $13 trillion.

  17. World Energy Outlook Special Report 2012: Iraq Energy Outlook

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2012-07-01

    Iraq is already the world’s third largest oil exporter. It has the resources and intention to increase its oil production vastly. Contracts are already in place. Will Iraq’s ambitions be realised? And what would the implications be for Iraq’s economy and for world oil markets? The obstacles are formidable: political, logistical, legal, regulatory, financial, lack of security and sufficient skilled labour. One example: in 2011 grid electricity could meet only 55% of demand. The International Energy Agency has studied these issues with the support and close cooperation of the government of Iraq and many other leading officials, commentators, industry representatives and international experts. This special report, in the World Energy Outlook series, presents the findings.

  18. A rigged market

    Energy Technology Data Exchange (ETDEWEB)

    Thomas, M.

    2000-02-01

    The mobile rig market remains a unique sector of the global upstream oil and gas industry. Big oil is continuing to emerge blinking from the darkness of its recent cash-starved existence to bask in the glory of a resurgent oil price. But the rig sector is once again lagging behind the pace being set by operators as they open up their wallets for new or delayed exploration and production projects. This paper gives statistics on worldwide count and contracts.

  19. Fumonisins B₁, B₂ and B₃ in corn products, wheat flour and corn oil marketed in Shandong province of China.

    Science.gov (United States)

    Li, Fenghua; Jiang, Dafeng; Zheng, Fengjia; Chen, Jindong; Li, Wei

    2015-01-01

    In this study a total of 522 samples were collected from Shandong province of China in 2014 and analysed for the occurrence of fumonisin B1 (FB1), FB2 and FB3 by isotope dilution ultrahigh performance liquid chromatography-tandem mass spectrometry. Fumonisins were detected in 98.1% of the corn products, with the average total level of 369.2 μg kg(-1). The individual average values of FB1, FB2 and FB3 in corn products were 268.3, 53.7 and 47.2 μg kg(-1), respectively. The simultaneous occurrence of FB1, FB2 and FB3 was observed in 76.7% of the corn products. Especially, the results demonstrated that the difference in the contamination levels for fumonisins in these three types of corn products was apparent. In addition, 6.2% of the wheat flour samples were contaminated with FB1, with concentrations ranging from 0.3 to 34.6 µg kg(-1). No FB2 or FB3 was detected in wheat flour. In corn oil samples no fumonisins were detected.

  20. Quantified moving average strategy of crude oil futures market based on fuzzy logic rules and genetic algorithms

    Science.gov (United States)

    Liu, Xiaojia; An, Haizhong; Wang, Lijun; Guan, Qing

    2017-09-01

    The moving average strategy is a technical indicator that can generate trading signals to assist investment. While the trading signals tell the traders timing to buy or sell, the moving average cannot tell the trading volume, which is a crucial factor for investment. This paper proposes a fuzzy moving average strategy, in which the fuzzy logic rule is used to determine the strength of trading signals, i.e., the trading volume. To compose one fuzzy logic rule, we use four types of moving averages, the length of the moving average period, the fuzzy extent, and the recommend value. Ten fuzzy logic rules form a fuzzy set, which generates a rating level that decides the trading volume. In this process, we apply genetic algorithms to identify an optimal fuzzy logic rule set and utilize crude oil futures prices from the New York Mercantile Exchange (NYMEX) as the experiment data. Each experiment is repeated for 20 times. The results show that firstly the fuzzy moving average strategy can obtain a more stable rate of return than the moving average strategies. Secondly, holding amounts series is highly sensitive to price series. Thirdly, simple moving average methods are more efficient. Lastly, the fuzzy extents of extremely low, high, and very high are more popular. These results are helpful in investment decisions.

  1. Prohibition of the insider trading at the energy wholesale markets an entirely new world?; Insiderhandelsverbot auf den Energiegrosshandelsmaerkten eine voellig neue Welt?

    Energy Technology Data Exchange (ETDEWEB)

    Hoepping, Ulrike [E.ON Ruhrgas AG (Germany). Bereich Gesellschafts- und Finanzierungsrecht; Stuhlmacher, Gerd [E.ON Energy Trading SE, Duesseldorf (Germany); E.ON Ruhrgas AG (Germany)

    2012-12-15

    At 28th December, 2011, the regulation on the integrity and transparency of the energy wholesale market became effective. Thus, insider trading and manipulations of the market on the energy wholesale markets of the European Union are forbidden. The draft law on the market transparency law provides that violations are avenged as a criminal act or as an administrative offence. Headlines from the financial industry cover the serious situation of the threatening sanctions. Under this aspect, the contribution under consideration reports on the prohibition of the insider trading.

  2. El Niño southern oscillation and its effects on world vegetable oil prices: assessing asymmetries using smooth transition models

    National Research Council Canada - National Science Library

    Ubilava, David; Holt, Matt

    2013-01-01

    .... These nonlinearities yield the history‐specific asymmetries in the vegetable oil price dynamics, wherein effects of ENSO shocks on the ENSO dynamics and the vegetable oil prices vary considerably between different ENSO regimes...

  3. LNG (Liquefied Natural Gas): the natural gas becoming a world commodity and creating international price references; GNL (Gas Natural Liquefeito): o gas natural se tornando uma commodity mundial e criando referencias de preco internacionais

    Energy Technology Data Exchange (ETDEWEB)

    Demori, Marcio Bastos [PETROBRAS, Rio de Janeiro, RJ (Brazil). Coordenacao de Comercializacao de Gas e GNL; Santos, Edmilson Moutinho dos [Universidade de Sao Paulo (USP), SP (Brazil). Inst. de Eletrotecnica e Energia. Programa Interunidades de Pos-Graduacao em Energia (PIPGE)

    2004-07-01

    The transportation of large quantities of natural gas through long distances has been done more frequently by Liquefied Natural Gas (LNG). The increase of natural gas demand and the distance of major reserves, allied to technological improvements and cost reduction through LNG supply chain, have triggered the expressive increase of LNG world market This paper tries to evaluate the influence that LNG should cause on natural gas world market dynamic, analyzing the tendency of gas to become a world commodity, creating international price references, like oil and its derivates. For this, are shown data as natural gas world reserves, the participation of LNG in natural gas world market and their increase. Furthermore, will be analyzed the interaction between major natural gas reserves and their access to major markets, still considering scheduled LNG projects, the following impacts from their implementation and price arbitrage that should be provoked on natural gas markets. (author)

  4. The overmarketing of social marketing.

    Science.gov (United States)

    Gumucio-dagron, A

    1991-01-01

    The author considers social marketing to be a communication approach which fundamentally strengthens and empowers recipient communities, creating communicators from once passive receptors of information. Social marketing is, however, an American creation marketed by American development communicators, conflicting in many ways with the practices, objectives, and ideologies of communication counterparts in Latin America. Development communicators in the 3rd world are fundamentally concerned with audience education, not product marketing to an audience. The 2 approaches are, therefore, often considered to be as incompatible as oil mixed with water. Method objectives and processes are compared and contrasted in the text. the author sees merit in the American approach, yet also stresses the need to not disregard the positive experiences and achievements of development communication in Latin America. They, too, are valid and valuable, and may be used to positive ends in other settings once efforts are made to overcome language and ideological barriers. U.S. and Latin American development communicators are urged to exchange experiences and learn more about each other's practice and theory.

  5. Present status of Mexico's oil policy

    Energy Technology Data Exchange (ETDEWEB)

    Ueno, Hiromu

    1988-07-10

    Mexico's oil exploration began with an excavation by an American in 1869. Mexico nationalized the petroleum industry in 1938. The discovery of a large oil field has caused Mexico to become the world's number four oil producing country in 1982. Then, as oil prices fell, Mexican economy lost its propulsive force. This paper describes the past and present of Mexico's oil industry. Mexico's oil policy is characterized by strong nationalism, a resource conservation policy, relations with OPEC, export prices policy, detachment from dependence on the US, the Acuerdo de San Jose (San Jose Treaty), and entry into the downstream. Mexico and Japan complement each other. Mexico exports crude oil to Japan via two routes through the sole intermediary of a Japanese company for importing Mexican oil. At present, Mexico does not have active relations with Japan in terms of oil export. Now that the oil market is more favorable for buyers than sellers, Japan is requested to approach Mexico actively. (7 tabs, 2 photos)

  6. The evolution of communities in the international oil trade network

    Science.gov (United States)

    Zhong, Weiqiong; An, Haizhong; Gao, Xiangyun; Sun, Xiaoqi

    2014-11-01

    International oil trade is a subset of global trade and there exist oil trade communities. These communities evolve over time and provide clues of international oil trade patterns. A better understanding of the international oil trade patterns is necessary for governments in policy making. To study the evolution of trade communities in the international oil trade network, we set up unweighted and weighted oil trade network models based on complex network theory using data from 2002 to 2011. We detected the communities in the oil trade networks and analyzed their evolutionary properties and stabilities over time. We found that the unweighted and weighted international oil trade networks show many different features in terms of community number, community scale, distribution of countries, quality of partitions, and stability of communities. Two turning points occurred in the evolution of community stability in the international oil trade network. One is the year 2004-2005 which correlates with changes in demand and supply in the world oil market after the Iraq War, and the other is the year 2008-2009 which is connected to the 2008 financial crisis. Different causations of instability show different features and this should be considered by policy makers.

  7. Impacts of oil disturbances: lessons from experience. [1973-1974 Oil Crisis; 1978-1979 Iranian Revolution; 1980-1981 Iran-Iraq War

    Energy Technology Data Exchange (ETDEWEB)

    Curlee, T R

    1983-01-01

    An analysis of the impacts of previous oil distrubances can be used to suggest the impacts of future oil disturbances. This paper reviews how the 1973-1974 Oil Crisis, the 1978-1979 Iranian Revolution, and the 1980-1981 Iran-Iraq War impacted the US and world oil markets. Various measures of impacts are considered, such as impacts on physical flows of crude and products, crude and product price changes on the US and world markets, impacts on stocks of crude and products, and impacts on refiners' inputs and outputs. Various macroeconomic indicators, such as gross national product, inflation rates, and unemployment, are also considered. Of particular interest in this study are the impacts that oil disturbances have had (and could have) on the availabilities of particular crude types and the abilities of US refiners to process crudes of various types in the short run. In addition, this paper reviews how the actions of the consuming countries and the major oil companies affected the impacts of past disturbances. The paper briefly discusses the likely causes and impacts of future oil distrubances and summarizes the lessons to be learned from past reactions to oil disturbances.

  8. Social media influencer marketing

    OpenAIRE

    Isosuo, Heli

    2016-01-01

    The marketing field is changing simultaneously with the digital world. Social media is getting more and more important to marketers, and there is a need to stand out in the social media noise. Social media influencer marketing could be a good alternative to other types of marketing. A need from the consignor and the interest of the author were the motivations for conducting the study. Sääskilahti Consulting has a social media influencer network Somevaikuttajat, which is offering social media ...

  9. Larvicidal efficacy of essential oil of betel leaf ( Piper betle on the larvae of the old World screwworm fly, Chrysomya bezziana in vitro

    Directory of Open Access Journals (Sweden)

    Wardhana April

    2007-01-01

    Full Text Available Larvae of Chrysomya bezziana are the commonest cause of wound myiasis in some parts of the world. This obligatory parasite is important in humans and in commercial livestock. Kumarasinghe et al have reported that essential oil of betel leaf (EOBL is larvicidal to C. megacephala but there are no publications on its effect on C. bezziana . This study was done to evaluate the efficacy of essential oil of betel leaf ( Piper betle against the larvae of C. bezziana in vitro . EOBL was prepared at the Industrial Technology Institute Colombo, Sri Lanka, according to a standard protocol. The experiment on larvae was carried out at the Research Institute for Veterinary Sciences in Bogor, Indonesia. EOBL concentrations of 2%, 3% and 4% were prepared with Tween 80. Two ml of 4%, 3% and 2% EOBL in 1% Tween 80 (v/v/aq were poured into separate Petri dishes. Ten 1st and 2nd instar larvae were placed in each Petri dish. Asuntol (Chaumaphos 1% was used as positive control and distilled water with 1% tween 80 was the negative control. Larval mortality was assessed half-hourly. The experiment was repeated five times and averages were compared. Sustained immobility of the larvae, after exposure to the relevant substances was considered as death. The efficacy of EOBL depended on, the stages of C. bezziana larvae and the concentration. With 4% EOBL, all first instar larvae were killed within two hours and the second instar larvae were killed by four hours. The positive control showed no mortality until four hours but all larvae were weak, from the first 30 minutes. In the negative control, larvae were mobile and active. EOBL 3% killed all the first instar larvae by 150 minutes and 74% of the second instar at four hours. By 210 minutes, 2% preparation had killed 100% of the first instars. EOBL is an effective larvicidal for C. bezziana first and second instar larvae in vitro . This natural product has a great potential to be developed as a novel larvicide against this

  10. Attributional and consequential environmental assessment of using waste cooking oil- and poultry fat-based biodiesel blends in urban buses: a real-world operation condition study

    Directory of Open Access Journals (Sweden)

    Mohammad Rajaeifar

    2017-09-01

    Full Text Available Urban public transportation sector in general is heavily dependent on fossil-oriented fuels, e.g., diesel. Given the fact that a major proportion of urban pollution and the consequent threats towards public health are attributed to this sector, serious efforts at both technical and political levels have been being made to introduce less-polluting fueling regimes, e.g., partial replacement of diesel with biodiesel. In line with that, the present study was aimed at evaluating the emissions attributed to 5% blends of waste cooking oil (WCO and poultry fat (PF biodiesel fuels (i.e., B5-WCO and B5-PF fuel blends when used in urban buses during idle operation mode. Moreover, the attributional and consequential environmental impacts of using these fuel blends were also investigated through a well to wheel life cycle assessment (LCA by considering the real-world condition combustion data using ten urban buses. The findings of the ALCA revealed that the application of 1 L B5-WCO fuel blend could potentially reduce the environmental burdens in human health, ecosystem quality, and resources damage categories compared with using the B5-PF fuel blend. The situation was opposite for climate change damage category in which using 1 L B5-PF fuel blend had a lower impact on the environment. Overall, the environmental hotspots in the B5-WCO and B5-PF life cycles were identified as the combustion stage as well as the diesel production and transportation. From the consequential perspective, using 1 L B5-WCO fuel blend could potentially decrease the environmental burdens in human health, ecosystem quality, and resources damage categories. While, the situation was different for climate change damage category where using 1 L B5-PF fuel blend could have a lower impact on the environment. In conclusion, using B5-WCO fuel blend as an alternative for diesel could be an environmentally-friendly decision for the Iranian urban transportation sector at the policy level as long

  11. Market Efficiency in Indian Stock Market

    OpenAIRE

    Sahani, Rishi

    2009-01-01

    In this era, efficient market hypothesis has become a very important theory for all the investors who wish to hold or plan to have an international diversified portfolio. As today, all the world economies and markets are globally getting connected, and investors have all the opportunities to invest internationally, so the understanding of market efficiency concept is gaining greater importance for all kinds of investors. In this research I have test the weak form hypothesis and random walk hy...

  12. Financial markets

    OpenAIRE

    Bibow, Jörg

    2011-01-01

    This paper provides a brief exposition of financial markets in Post Keynesian economics. Inspired by John Maynard Keynes's path-breaking insights into the role of liquidity and finance in "monetary production economies," Post Keynesian economics offers a refreshing alternative to mainstream (mis)conceptions in this area. We highlight the importance of liquidity-as provided by the financial system—to the proper functioning of real world economies under fundamental uncertainty, contrasting star...

  13. Oil palm natural diversity and the potential for yield improvement.

    Science.gov (United States)

    Barcelos, Edson; Rios, Sara de Almeida; Cunha, Raimundo N V; Lopes, Ricardo; Motoike, Sérgio Y; Babiychuk, Elena; Skirycz, Aleksandra; Kushnir, Sergei

    2015-01-01

    African oil palm has the highest productivity amongst cultivated oleaginous crops. Species can constitute a single crop capable to fulfill the growing global demand for vegetable oils, which is estimated to reach 240 million tons by 2050. Two types of vegetable oil are extracted from the palm fruit on commercial scale. The crude palm oil and kernel palm oil have different fatty acid profiles, which increases versatility of the crop in industrial applications. Plantations of the current varieties have economic life-span around 25-30 years and produce fruits around the year. Thus, predictable annual palm oil supply enables marketing plans and adjustments in line with the economic forecasts. Oil palm cultivation is one of the most profitable land uses in the humid tropics. Oil palm fruits are the richest plant source of pro-vitamin A and vitamin E. Hence, crop both alleviates poverty, and could provide a simple practical solution to eliminate global pro-vitamin A deficiency. Oil palm is a perennial, evergreen tree adapted to cultivation in biodiversity rich equatorial land areas. The growing demand for the palm oil threatens the future of the rain forests and has a large negative impact on biodiversity. Plant science faces three major challenges to make oil palm the key element of building the future sustainable world. The global average yield of 3.5 tons of oil per hectare (t) should be raised to the full yield potential estimated at 11-18t. The tree architecture must be changed to lower labor intensity and improve mechanization of the harvest. Oil composition should be tailored to the evolving needs of the food, oleochemical and fuel industries. The release of the oil palm reference genome sequence in 2013 was the key step toward this goal. The molecular bases of agronomically important traits can be and are beginning to be understood at the single base pair resolution, enabling gene-centered breeding and engineering of this remarkable crop.

  14. Oil palm natural diversity and the potential for yield improvement

    Science.gov (United States)

    Barcelos, Edson; Rios, Sara de Almeida; Cunha, Raimundo N. V.; Lopes, Ricardo; Motoike, Sérgio Y.; Babiychuk, Elena; Skirycz, Aleksandra; Kushnir, Sergei

    2015-01-01

    African oil palm has the highest productivity amongst cultivated oleaginous crops. Species can constitute a single crop capable to fulfill the growing global demand for vegetable oils, which is estimated to reach 240 million tons by 2050. Two types of vegetable oil are extracted from the palm fruit on commercial scale. The crude palm oil and kernel palm oil have different fatty acid profiles, which increases versatility of the crop in industrial applications. Plantations of the current varieties have economic life-span around 25–30 years and produce fruits around the year. Thus, predictable annual palm oil supply enables marketing plans and adjustments in line with the economic forecasts. Oil palm cultivation is one of the most profitable land uses in the humid tropics. Oil palm fruits are the richest plant source of pro-vitamin A and vitamin E. Hence, crop both alleviates poverty, and could provide a simple practical solution to eliminate global pro-vitamin A deficiency. Oil palm is a perennial, evergreen tree adapted to cultivation in biodiversity rich equatorial land areas. The growing demand for the palm oil threatens the future of the rain forests and has a large negative impact on biodiversity. Plant science faces three major challenges to make oil palm the key element of building the future sustainable world. The global average yield of 3.5 tons of oil per hectare (t) should be raised to the full yield potential estimated at 11–18t. The tree architecture must be changed to lower labor intensity and improve mechanization of the harvest. Oil composition should be tailored to the evolving needs of the food, oleochemical and fuel industries. The release of the oil palm reference genome sequence in 2013 was the key step toward this goal. The molecular bases of agronomically important traits can be and are beginning to be understood at the single base pair resolution, enabling gene-centered breeding and engineering of this remarkable crop. PMID:25870604

  15. Oil palm natural diversity and the potential for yield improvement

    Directory of Open Access Journals (Sweden)

    Edson eBarcelos

    2015-03-01

    Full Text Available African oil palm has the highest productivity amongst cultivated oleaginous crops. Species can constitute a single crop capable to fulfil the growing global demand for vegetable oils, which is estimated to reach 240 million tons by 2050. Two types of vegetable oil are extracted from the palm fruit on commercial scale. The crude palm oil and kernel palm oil have different fatty acid profiles, which increases versatility of the crop in industrial applications. Plantations of the current varieties have economic life-span around 25-30 years and produce fruits around the year. Thus, predictable annual palm oil supply enables marketing plans and adjustments in line with the economic forecasts. Oil palm cultivation is one of the most profitable land uses in the humid tropics. Oil palm fruits are the richest plant source of pro-vitamin A and vitamin E. Hence, crop both alleviates poverty, and could provide a simple practical solution to eliminate global pro-vitamin A deficiency. Oil palm is a perennial, evergreen tree adapted to cultivation in biodiversity rich equatorial land areas. The growing demand for the palm oil threatens the future of the rain forests and has a large negative impact on biodiversity. Plant science faces three major challenges to make oil palm the key element of building the future sustainable world. The global average yield of 3.5 tons of oil per hectare (t should be raised to the full yield potential estimated at 11-18t. The tree architecture must be changed to lower labor intensity and improve mechanization of the harvest. Oil composition should be tailored to the evolving needs of the food, oleochemical and fuel industries. The release of the oil palm reference genome sequence in 2013 was the key step towards this goal. The molecular bases of agronomically important traits can be and are beginning to be understood at the single base pair resolution, enabling gene-centered breeding and engineering of this remarkable crop.

  16. Oil palm mapping for Malaysia using PALSAR-2 dataset

    Science.gov (United States)

    Gong, P.; Qi, C. Y.; Yu, L.; Cracknell, A.

    2016-12-01

    Oil palm is one of the most productive vegetable oil crops in the world. The main oil palm producing areas are distributed in humid tropical areas such as Malaysia, Indonesia, Thailand, western and central Africa, northern South America, and central America. Increasing market demands, high yields and low production costs of palm oil are the primary factors driving large-scale commercial cultivation of oil palm, especially in Malaysia and Indonesia. Global demand for palm oil has grown exponentially during the last 50 years, and the expansion of oil palm plantations is linked directly to the deforestation of natural forests. Satellite remote sensing plays an important role in monitoring expansion of oil palm. However, optical remote sensing images are difficult to acquire in the Tropics because of the frequent occurrence of thick cloud cover. This problem has led to the use of data obtained by synthetic aperture radar (SAR), which is a sensor capable of all-day/all-weather observation for studies in the Tropics. In this study, the ALOS-2 (Advanced Land Observing Satellite) PALSAR-2 (Phased Array type L-band SAR) datasets for year 2015 were used as an input to a support vector machine (SVM) based machine learning algorithm. Oil palm/non-oil palm samples were collected using a hexagonal equal-area sampling design. High-resolution images in Google Earth and PALSAR-2 imagery were used in human photo-interpretation to separate oil palm from others (i.e. cropland, forest, grassland, shrubland, water, hard surface and bareland). The characteristics of oil palms from various aspects, including PALSAR-2 backscattering coefficients (HH, HV), terrain and climate by using this sample set were further explored to post-process the SVM output. The average accuracy of oil palm type is better than 80% in the final oil palm map for Malaysia.

  17. The liberalization of the European gas market and its consequences for Russia

    Energy Technology Data Exchange (ETDEWEB)

    Finon, D.; Locatelli, C

    2002-07-01

    Russia is the world biggest natural gas producer, with output of 581 bn m{sup 3} in 2001, and is also a key supplier of the European gas market (around 30% of current European Union gas imports). Therefore gas exports rank with oil exports as an essential variable of Russian economic policy, and any institutional evolution of its gas export markets is crucial for Russia's economy as well as its gas industry. Liberalization of the European gas market will have major consequences for main suppliers, and therefore for Russia. (author)

  18. Forecasting Long-Term Crude Oil Prices Using a Bayesian Model with Informative Priors

    Directory of Open Access Journals (Sweden)

    Chul-Yong Lee

    2017-01-01

    Full Text Available In the long-term, crude oil prices may impact the economic stability and sustainability of many countries, especially those depending on oil imports. This study thus suggests an alternative model for accurately forecasting oil prices while reflecting structural changes in the oil market by using a Bayesian approach. The prior information is derived from the recent and expected structure of the oil market, using a subjective approach, and then updated with available market data. The model includes as independent variables factors affecting oil prices, such as world oil demand and supply, the financial situation, upstream costs, and geopolitical events. To test the model’s forecasting performance, it is compared with other models, including a linear ordinary least squares model and a neural network model. The proposed model outperforms on the forecasting performance test even though the neural network model shows the best results on a goodness-of-fit test. The results show that the crude oil price is estimated to increase to $169.3/Bbl by 2040.

  19. Using Computer Techniques To Predict OPEC Oil Prices For Period 2000 To 2015 By Time-Series Methods

    Directory of Open Access Journals (Sweden)

    Mohammad Esmail Ahmad

    2015-08-01

    Full Text Available The instability in the world and OPEC oil process results from many factors through a long time. The problems can be summarized as that the oil exports dont constitute a large share of N.I. only but it also makes up most of the saving of the oil states. The oil prices affect their market through the interaction of supply and demand forces of oil. The research hypothesis states that the movement of oil prices caused shocks crises and economic problems. These shocks happen due to changes in oil prices need to make a prediction within the framework of economic planning in a short run period in order to avoid shocks through using computer techniques by time series models.

  20. Between powers and markets

    Energy Technology Data Exchange (ETDEWEB)

    Ukert, T.

    1979-01-01

    Popular outline of the situation on the mineral oil sector, aided by figures on the development of reserves, output, refinery capacities, and consumption in West Germany between 1970 and 1978 and world-wide according to continents.

  1. Ecuador: World Oil Report 1991

    Energy Technology Data Exchange (ETDEWEB)

    1991-08-01

    This paper reports that there has been considerable turbulence in Ecuador's E and P sector over the last year. For instance, Energy Minister Diego Tramariz was replaced by the country's Congress after he raised subsidized fuel prices. Ecuadoran and U.S. environmentalists, meanwhile, raised a firestorm of controversy over the on-again, off- again development of Conoco's Block 16 in Yasuni National Park. Finally, Unocal and PetroCanada this spring terminated their respective drilling operations after fruitless multiwell efforts. New Energy Minister Donald Castillo certainly has his work cut out in attempting to maintain stability in upstream activity. To that end, Castillo has stated that one of his top priorities will be to maintain a good working relationship with foreign operators. He also expected a seventh round of exploratory blocks to be offered before summer's end to shore up activity. Castillo reiterated in public statements that he stands by the administration's existing energy policies, including development of Block 16.

  2. The effect of the volatility of the oil price in the actual world economy (1998 until 02/2008); A influencia da volatilidade dos precos do petroleo na atual economia mundial

    Energy Technology Data Exchange (ETDEWEB)

    Plaster, Vinicius Almeida [Universidade Vila-Velha, ES (Brazil). Relacoes Internacionais

    2008-07-01

    In the elapse of the X X century the world experienced different cycles of prices in the world's oil production. From the principle of the century until the years 70's there were times of relative stability, in the 70's nevertheless a little variation in the price took the world's economy into a huge recession. Since then the consume of oil, that were increasing, has suffered a shock and started to decrease. The stability just will return in the 90's , but it will not last for a long time, and not with the same level of prices of the time before crisis, but as sad before it do not last long, as we can see nowadays the quotation break new records every day , but one factor distinguish this new shock of prices, of the shock of the 70's. Distinct of that time, the global economy in the beginning of the X XI century live a period of economical stability that was not seen for a long time in history, with controlled inflation and decrease of the interests rates, therefore this article concludes that happened a maturation of global economy, and that due the previous shocks happened a diversification in relation of the previous excessive dependence of oil. (author)

  3. Petroleum marketing monthly, September 1994

    Energy Technology Data Exchange (ETDEWEB)

    1994-09-01

    The Petroleum Marketing Monthly (PMM) provides information and statistical data on a variety of crude oils and refined petroleum products. The publication presents statistics on crude oil costs and refined petroleum product sales for use by industry, government, private sector analysts, educational institutions, and consumers. Data on crude oil include the domestic first purchase price, the f.o.b. and landed cost of imported crude oil, and the refiners` acquisition cost of crude oil. Refined petroleum product sales data include motor gasoline, distillates, residuals, aviation fuels, kerosene, and propane. The Petroleum Marketing Division, Office of Oil and Gas, Energy Information Administration ensures the accuracy, quality, and confidentiality of the published data in the Petroleum Marketing Monthly.

  4. Turning Point: A History of German Petroleum in World War II and its Lessons for the Role of Oil in Modern Air Warfare

    Science.gov (United States)

    2011-01-01

    million barrels of oil annually. Baku, the Crown Jewel of Caucasus oil production and one of the world’s richest oilfields, was capable of churning out...a cruel twist of fate, the Silver Bullet that finally brought down the Luftwaffe came from within. The unsustainable attrition rate of pilots and

  5. Showcase your service: social media and marketing basics in a dynamic, over-populated, mixed-message, and highly competitive world.

    Science.gov (United States)

    Kuechel, Marie Czenko

    2010-11-01

    This article discusses social media as a means of communication between the aesthetic medical practice and clients. Discussion of the various types of social media and how each can support a physician's practice, brand, market, and tolerances is presented. Blogs, wikis, networks, viral marketing, and electronic communications are presented in terms of what they can provide a practice and their limitations and pitfalls. Emphasis is on finding the combination of methods to showcase the individual style and personality of a practice. Copyright © 2010 Elsevier Inc. All rights reserved.

  6. Oil price reduction impacts on the Iranian economy

    Directory of Open Access Journals (Sweden)

    Abdollah Mahmoodi

    2017-12-01

    Full Text Available economy. In order to simulate this shock, the global trade analysis project (GTAP model with its data done by using. In the new created data aggregation, oil exporting in Iran and the rest of the world countries as economic new regions, ten new economic sectors have been created, among which the oil is introduced as one sector as well as five endowments. The standard economic closure was changed, and decline in world oil price was simulated in model as a policy shock. The results show that oil export revenue and the mineral commodity export earnings will decrease, but other production sectors’ exports will increase. The trade balance of Iran will be affected negatively and strongly. Also, oil and other services production decreased. In the production sectors’ market, the demand for labor, natural resources, and investment decreased dramatically, and the demand for land increased. Using equivalent variation (EV, changes in Iran’s welfare is high negative. Finally, deflation, reduction in value and quantity of GDP and changes in consumption combination from public to private sector are the other economic impacts of reduction in oil price on Iran’s economic. It is suggested that future studies are done using dynamic models and up-to-date data. In addition, policy makers need to rebound internationally and within OPEC to raise oil prices.

  7. Economics and regulation of petroleum futures markets

    Energy Technology Data Exchange (ETDEWEB)

    1980-08-01

    Because the futures market in petroleum products is a relatively recent phenomenon, the implications of public policies formulated for that market have not yet been fully explored. To provide the Office of Competition of the Department of Energy (DOE) with sufficient information to assess policy alternatives, Resource Planning Associates, Inc. (RPA) was asked to analyze the development of the futures market in No. 2 oil, assess the potential for futures markets in other petroleum products, and identify policy alternatives available to DOE. To perform this analysis, the criteria for a viable futures market was established first. Then, the experience to date with the 18-month-old futures market in No. 2 oil was examined, and the potential for viable futures markets in No. 6 oil, gasoline, jet fuel, and crude oil was assessed. Finally, how existing DOE regulations and prospective actions might affect petroleum futures market development was investigated.

  8. Yield gaps in oil palm

    NARCIS (Netherlands)

    Woittiez, Lotte S.; Wijk, van Mark T.; Slingerland, Maja; Noordwijk, van Meine; Giller, Ken E.

    2017-01-01

    Oil palm, currently the world's main vegetable oil crop, is characterised by a large productivity and a long life span (≥25 years). Peak oil yields of 12 t ha−1 yr−1 have been achieved in small plantations, and maximum theoretical yields as calculated with simulation models are 18.5 t oil ha−1 yr−1,

  9. Data Bank 28DM - T-100 Domestic Market Data (World Area Code) - U.S. Air Carriers Traffic and Capacity Data.

    Science.gov (United States)

    2014-05-01

    This CD presents data reported by U.S. carriers operating between airports located within the boundaries of the United States and its territories. These data are often referred to as either "market" or on-flight origin and destination records. The da...

  10. Proceedings of the heavy oil Latin America congress 2011

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2011-07-01

    This conference brought experts together to explore the challenges faced and opportunities available in the dynamic emerging market for heavy oil which Latin America offers. The conference was attended by over 700 delegates from around the world representing official and private agencies, Latin American governments, national oil companies and service companies in heavy oil producing countries. These participants were given the opportunity to learn about the entire value chain of Latin America's heavy oil industry, with emphasis on balancing challenging environmental and social issues with operational best practices, and they also the opportunity to share their knowledge and expertise with their peers. 17 of the 29 papers presented during this conference have been catalogued separately for inclusion in this database.

  11. Democratization and world petroleum trade in the year 2000

    Energy Technology Data Exchange (ETDEWEB)

    Das, Sujit (Oak Ridge National Lab., TN (United States))

    1994-07-01

    The Middle East (ME) will continue to be the dominant supplier in the world oil market in the year 2000, according to supply-demand forecasts published by the U.S. DOE. This analysis suggests that interesting trade patterns will emerge as a result of the democratization in the Former Soviet Union (FSU) and Eastern Europe (EE). EE will import approximately 50% of its crude oil from the ME and its refined product exports will come to the U.S. and Latin America (LA) besides Western Europe (WE). A reduction in the net imports of WE and a better match between the crude quality and refinery configuration will cause some portion of FSU petroleum exports to come to North America. Much uncertainty remains about the level of future FSU crude oil production. (author)

  12. Effect of market factors on the short-time pricing of stock-exchange metals

    Science.gov (United States)

    Bogdanov, S. V.; Shevelev, I. M.; Chernyi, S. A.

    2016-12-01

    The open trade on the world market is estimated using information of one-day exchange prices of nonferrous and precious metals, oil, reduced crude, and gasoline and the main world stock indices in the time period from January 1, 2009 to December 31, 2015. It is found that the short-term changes in the prices of nonferrous metals are determined by the prices on the metal market. The changes in the prices of energy carriers and the stock trade on the stock market weakly influence the pricing of nonferrous and precious metals. The prices of metals depend on the situation during trade on commodity exchanges, and the stock market indirectly influences the exchange prices of metals through changes in the share prices of the companies that produce copper, aluminum, and zinc.

  13. The world energy book. Issue 3

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2006-11-15

    This issue contains ten short articles. The first section, world overview, has a paper on Johannes Teywssen of E.On/Energie about liberalisation. The second section on Europe includes an article by Georg Rosenbauer of Siemens Power Generation entitled 'Clean coal: bringing CCS to market' and one by Clair Gough and others called 'CCS: a realistic option of the UK'. The section on energy statistics gives figures for usage and output of electricity, coal, oil and gas for 2003 for Europe. Additional statistics are available online at www.worldenergybook.com. The book is produced and published on behalf of the World Energy Council by the Petroleum Economist Ltd.

  14. Strategic resources - Europe and the World

    Energy Technology Data Exchange (ETDEWEB)

    Godement, F

    2005-07-01

    This document analyzes the geopolitical aspects of the energy security policy of Europe, its vulnerability with respect to other regions of the world with strong economic development and consumption (North America and East Asia), the failures of the European energy policies, and the dangers for Europe of strong changes in the rest of the World: Middle East's geopolitical instabilities, increased consumption of energy and raw materials by emerging economies, general discontinuity for raw material prices, emergence of non-OPEC oil and gas producers, high import dependency ratios from non-OECD countries. Then it analyzes the global energy scarcity hypothesis according to different scenarios: resurgence of geopolitical conflicts around resources, geopolitical spill-over from increased scarcity of resources, or interplay of market forces and business strategy. Finally, it sounds two alarms regarding energy policy: the decline of active energy saving policies across Europe, and the threat of liberalization on energy security policy. (J.S.)

  15. THE CURRENT STATE AND KEY TRENDS IN THE GLOBAL ENERGY MARKETS: ITS IMPLICATIONS FOR RUSSIA

    Directory of Open Access Journals (Sweden)

    Ostroukhova N. G.

    2015-06-01

    Full Text Available Exports of hydrocarbons provides approximately half of the revenues of the Federal budget of Russia, about a tenth of its GDP, the rate of the national currency depends on the world price of oil. These factors determine the relevance of studying the situation at the world energy markets. The article contains a review of the current state of the global and regional energy markets. The author examined the characteristics of the formation of energy prices on a global scale, identified influencing this process factors, analyzed the development trends of world energy, identified the causes of their appearance. The article contains evaluation of the onset and the possible implications for the Russian energy sector developments in the global energy markets. The author has formulated risks for the domestic economy, further development of the identified trends.

  16. Fuel additive experts discuss successful strategy for meeting the specialized needs of fuel marketers and engine manufacturers

    Energy Technology Data Exchange (ETDEWEB)

    Alder, K. [ed.; Ondercin, G.; Flavin, P.; Giunta, R.

    1996-01-01

    As the petroleum and original equipment manufacturers around the world struggle with tough new emissions regulations, they have come to rely more and more heavily on fuel and lubricant additives to enable them to meet and maintain top performance. At Lubrizol, the world`s largest additive supplier, an ongoing, three-way dialogue with refiners/oil and fuel marketers, and engine manufacturers continues to provide creative solutions to industry`s needs. Fuel Technology & Management (FTM) spoke recently with three key managers of Lubrizol`s fuel products segment about the marketplace and regulatory demands throughout the world. Greg Ondercin, worldwide segment manager; Paul Flavin, marketing manager; and Robert Giunta, North American commercial manager, are creating partnerships with fuel marketers around the would to meet their specialized needs and, as is so important today, add value for them.

  17. International biodiesel markets. Developments in production and trade

    Energy Technology Data Exchange (ETDEWEB)

    Lamers, P. [Ecofys Germany, Berlin (Germany)

    2012-01-15

    The global biodiesel market has shown an exponential growth in production and trade across the past decade. Nowadays, more biodiesel than ever before is sourced from abroad and procurement areas - especially of large scale producers and traders - span the globe. While this trend is bound to continue, markets and trade developments are still strongly linked to support and trade policies. Furthermore, the biodiesel industry is strongly linked to other sectors (agriculture and mineral oil industry in particular) and faces significant market disturbances some of which have led to various inefficiencies in the past. Due to the pace of this market development, a methodological assessment and understanding of the numerous influencing factors was needed to reduce uncertainties and risks for those involved. A recently published analysis by Ecofys and the Copernicus Institute, Utrecht University, provided such an analysis. It evaluates how the interaction of domestic policies steered global trade streams towards different markets, in particular in connection to underlying trade policies and additional market forces, over the past decade. It provides robust data on international production and trade volumes which have already served as input to the recently published Special Report on Renewable Energy (SRREN) by the Intergovernmental Panel on Climate Change (IPCC). This market brochure was commissioned by UFOP to build upon the methodologies and findings of Lamers et al. and to provide a picture of the global biodiesel market in 2010/2011. It is structured in six sections: an overview of global production volumes (Section 2); developments of EU (Section 3) and other world (Section 4) markets and (trade) policies; global net trade volumes (Section 5); vegetable oil trade patterns and their link to biodiesel trade (Section 6); Conclusions and Outlook (Section 7)

  18. World-Class Leaders

    Science.gov (United States)

    Weinstein, Margery

    2012-01-01

    Future leaders' creativity and problem-solving skills have been honed in leadership courses, but that doesn't mean they are ready to use those skills to further a company's place in the world. With emerging markets in Asia, South America, and other areas of the world, a workforce needs to have an understanding of and interest in cultures beyond…

  19. The Viability of the Oil and Gas Industry within the Former Soviet Union, excluding Kazakhstan

    Energy Technology Data Exchange (ETDEWEB)

    Coish, J.; Pyne, M.

    2004-01-15

    The former Soviet Union (FSU) has huge potential in the future of the world's oil and gas industry. The FSU includes some of the biggest producers and consumers of oil and gas in the world, and many of these countries include areas that lie untouched or explored. FSU territory also surrounds the Caspian Sea, which is itself a hotbed of activity in the oil and gas industry. The Caspian alone is important to world energy markets because of its own potential for oil and gas production and export, and this adds to the overall potential of the FSU. The FSU has been moving towards a free market economy since the fall of communism in the early 90's, and as such, is becoming a much more attractive area for foreign companies to operate. The FSU countries still requires foreign investment for their respective industries, and some of them have even put into place legislation to provide benefits to foreign investors. There are many types of foreign investment required in the FSU. Much of the infrastructure already in place is old and dilapidated, and requires maintenance and improvement. As well, new equipment and technologies for exploration and production are required to tap the oil and gas resources that lie in inconvenient locations. Finally, transportation of the oil and gas is a major issue here, as many of the fields are in hard to reach areas, and thus pipeline projects are increasing. Since the fall of communism, the FSU has been opening its doors more and more to foreign investors eager to bite into the huge market, and many of the largest oil and gas companies in the world are already operating there. The industries are still young to foreign investment, however, and those companies who get their foot in the door early, will be able to reap the benefits for years to come.

  20. Research document no. 20. The constitutionalizing of the international legal regime of the petroleum investments and the world market reconstruction; Cahier de recherche no. 20. La constitutionalisation du regime juridique international des investissements petroliers et la (re)construction du marche mondial

    Energy Technology Data Exchange (ETDEWEB)

    Noel, P

    2000-09-01

    We analyse the new international legal regime for upstream petroleum investments and ''state contracts'' in general. In striking contrast to the ''New international economic order'' and ''Permanent sovereignty over natural resources'' ideologies of the 1960 and 1970, the emerging regime promotes the sanctification of contractual economic rights; the strict definition of State sovereign prerogatives, and the severe limitation of their conditions of exercise; the internationalization of the settlement of disputes through direct firm-State arbitration; the integration of national territories in a competitive, transparent, non-discriminative global market for investment. We demonstrate that it is rooted in the principles of liberal constitutionalism, hence promoting the internationalization of the Rule of Law. Such a legal regime is conducive to the expansion of the market for petroleum rights, as it restores the institutional conditions for credible commitment by the State. It will also accelerate the trend toward the ''commoditization'' of hydrocarbon resources. Bilateral investments treaties (especially the United States BIT program) as well as multilateral/regional instruments both general (draft MAI, MIGA, MERCOSUR, ALENA) and energy-specific (Energy Charter Treaty) are analysed as the main pillars and diffusion mechanisms of the new regime. A final paragraph indicates the way forward: the evaluation of the impact of this new legal regime on the world oil supply curve, especially as it eventually reaches - or not - some of the lowest-cost, biggest-resources countries. (author)

  1. Global market and consumers

    Directory of Open Access Journals (Sweden)

    Rakić Beba

    2003-01-01

    Full Text Available All consumers in the world share certain needs and desires. They show however, remarkable diversity in the way they satisfy these needs and desires. Understanding the consumer behavior is difficult enough in the confines of a single country. Can manager understand the consumer behavior in many different world markets? International marketer must learn how to satisfy customers with widely different buying behaviors.

  2. ANALYSIS, EVALUATION STRUCTURE AND SIMULATION OF OIL CONSUMPTION IN JAPAN FROM THE POSITION OF INTERESTS OF RUSSIA

    Directory of Open Access Journals (Sweden)

    O. I. Gulakova

    2014-04-01

    Full Text Available Russia to strengthen the economic position in the world arena is necessary to increase its presence in the Asia-Pacific region. To further assess the prospects for Russian oil exports to the east it is advisable to determine the main factors which determine the demand for oil in major Asian oil consumers. In this paper analyzes the oil consumption in Japan - both in the country which is one of the leading in the region on oil imports and the level of GDP. In this paper performed analytical review of the oil market, as well as identified and analyzed using econometric methods main factors which determine the demand for oil in this country. Concluded that Japan's economy is dependent on oil imports due to increased electricity production, as well as with the growth of national transport needs for energy. This state can be regarded as a stable strategic partner of Russia in the oil market. But the significant growth in oil consumption in Japan in the next decade is not expected.Purchase on Elibrary.ru > Buy now

  3. The Other Side of the Coin: can Turkey ''Get'' West by Oil?

    Directory of Open Access Journals (Sweden)

    Bestenigar KARA

    2016-12-01

    Full Text Available This study shortly brings forward the oil situation of the world and Turkey's current role in this picture. Within this frame subjects of article have been searched in depth as follows: the current oil status of the world in terms of proven reserves, production, consumption and trade, insufficient use of renewables as against oil, main reasons changing the balances in global oil market. The topic of article is and has always been a current issue. Oil has always come to the forefront taking into account for example oil crises throughout history, the global developments together with new technologies or growing population together with increasing energy demand alongside of its wide range of use in different sectors from textile to transportation. On this basis the aim of article was to reveal how in fact developed but oil poor regions are relied on oil rich but developing regions and Turkey's importance as a transit country within the context of supply for oil poor regions.

  4. Using the market to regulate health care price: why heart hospitals will have a competitive advantage in the world of post-diagnostic related group pricing.

    Science.gov (United States)

    McLean, Thomas R

    2004-01-01

    For the past 20 years, the federal government has reimbursed hospital services by administrating pricing. Simply put, under such a system the government dictated the prices of medical services. Not only has administrative pricing failed to control medical inflation, but such failure could have been predicted from a review of basic economics. Accordingly, to eliminate the deleterious effects of administrative pricing, it is not surprising that the government is gathering information on hospital quality and cost in anticipation of a return to a system in which the price for hospital services is determined by the market. For some hospitals, this will be good news because they will be able to negotiate a more favorable rate of reimbursement. Unfortunately, for some hospitals a market system will be bad news because the government is not going to negotiate a provider contract with every hospital. In short, when the government returns to a market system for pricing of hospital services, competition among hospitals is going to become even more competitive.

  5. Petroleum marketing monthly, December 1992

    Energy Technology Data Exchange (ETDEWEB)

    1992-12-14

    The Petroleum Marketing Monthly (PMM) is designed to give information and statistical data about a variety of crude oils and refined petroleum products. The publication provides statistics on crude oil costs and refined petroleum products sales for use by industry, government, private sector analysts, educational institutions, and consumers. Data on crude oil include the domestic first purchase price, the f.o.b. and landed cost of imported crude oil, and the refiners` acquisition cost of crude oil. Sales data for motor gasoline, distillates, residuals, aviation fuels, kerosene, and propane are presented.

  6. Petroleum marketing monthly, February 1994

    Energy Technology Data Exchange (ETDEWEB)

    1994-02-25

    The Petroleum Marketing Monthly is designed to give information and statistical data about a variety of crude oils and refined petroleum products. The publication provides statistics on crude oil costs and refined petroleum products sales for use by industry, government, private sector analysts, educational institutions, and consumers. Data on crude oil include the domestic first purchase price, the f.o.b. and landed cost of imported crude oil, and the refiner`s acquisition cost of crude oil. Sales data for motor gasoline, distillates, residuals, aviation fuels, kerosene, and propane are presented.

  7. Petroleum marketing monthly, January 1994

    Energy Technology Data Exchange (ETDEWEB)

    1994-02-01

    The Petroleum Marketing Monthly (PMM) is designed to give information and statistical data about a variety of crude oils and refined petroleum products. The publication provides statistics on crude oil costs and refined petroleum products sales for use by industry, government, private sector analysts, educational institutions, and consumers. Data on crude oil include the domestic first purchase price, the f.o.b. and landed cost of imported crude oil, and the refiners` acquisition cost of crude oil. Sales data for motor gasoline, distillates, residuals, aviation fuels, kerosene, and propane are presented.

  8. Petroleum marketing monthly, November 1993

    Energy Technology Data Exchange (ETDEWEB)

    1993-11-09

    The Petroleum Marketing Monthly (PMM) is designed to give information and statistical data about a variety of crude oils and refined petroleum products. The publication provides statistics on crude oil costs and refined petroleum products sales for use by industry, government, private sector analysts, educational institutions, and consumers. Data on crude oil include the domestic first purchase price, the f.o.b. and landed costs of imported crude oil, and the refiner`s acquisition cost of crude oil. Sales data for motor gasoline, distillates, residuals, aviation fuels, kerosene, and propane are presented.

  9. The Effect of Biodiesel Policies on World Biodiesel and Oilseed Prices

    OpenAIRE

    de Gorter, Harry; Drabik, Dusan; Timilsina, Govinda R.

    2014-01-01

    A theoretical and empirical model is developed to analyze the effect of a biodiesel mandate, a tax exemption (tax credit) and an exogenous diesel price shock on world soybean and canola markets. The jointness in crushing oil and meal from the oilseed reduces the size of the link between biodiesel and oilseed prices. A diesel price shock with a mandate results in a smaller change in oilseed prices compared with a tax exemption. Higher diesel prices increase biodiesel prices under a tax exempti...

  10. Measuring Value-at-Risk and Expected Shortfall of crude oil portfolio using extreme value theory and vine copula

    Science.gov (United States)

    Yu, Wenhua; Yang, Kun; Wei, Yu; Lei, Likun

    2018-01-01

    Volatilities of crude oil price have important impacts on the steady and sustainable development of world real economy. Thus it is of great academic and practical significance to model and measure the volatility and risk of crude oil markets accurately. This paper aims to measure the Value-at-Risk (VaR) and Expected Shortfall (ES) of a portfolio consists of four crude oil assets by using GARCH-type models, extreme value theory (EVT) and vine copulas. The backtesting results show that the combination of GARCH-type-EVT models and vine copula methods can produce accurate risk measures of the oil portfolio. Mixed R-vine copula is more flexible and superior to other vine copulas. Different GARCH-type models, which can depict the long-memory and/or leverage effect of oil price volatilities, however offer similar marginal distributions of the oil returns.

  11. Research advancements in palm oil nutrition*

    OpenAIRE

    May, Choo Yuen; Nesaretnam, Kalanithi

    2014-01-01

    Palm oil is the major oil produced, with annual world production in excess of 50 million tonnes. About 85% of global palm oil produced is used in food applications. Over the past three decades, research on nutritional benefits of palm oil have demonstrated the nutritional adequacy of palm oil and its products, and have resulted in transitions in the understanding these attributes. Numerous studies have demonstrated that palm oil was similar to unsaturated oils with regards to effects on blood...

  12. Government policy and market penetration opportunities for US renewable energy technology in India and Pakistan

    Energy Technology Data Exchange (ETDEWEB)

    Sathaye, J.; Weingart, J.M.

    1988-01-01

    Some US renewable energy industries are now looking abroad, especially to the rapidly developing Asia-Pacific region, in order to increase sales and expand markets. The developing world appears in principle to be an important market for renewable energy technologies. These international markets have proven extremely difficult to penetrate, and the US competitive position is threatened by strong, well-organized, government-supported competition from Japan and Western Europe. For example, US photovoltaic manufacturers held 80% of the world PV market in 1980; today their market share is down to 35%. Less developed countries (LDCs) present a potentially significant but highly elusive market for renewable energy technologies. This market may develop for three major reasons; the shortage of electricity supply and the high cost of grid extension to rural areas, the high cost of oil imports and the scarcity of light oil products, and the gradual replacement of traditional fuels with modern ones. The focus of this report is on the policies and attitudes of national and regional governments in India and Pakistan towards renewable energy technology and how these policies and attitudes affect the potential for penetration of these markets by US industry. We have attempted to provide some useful insight into the actual market environment in India and Pakistan rather than just report on official laws, regulations, and policies. The report also examines the economics of technologies in comparison with more traditional sources of energy. It concentrates primarily on technologies, such as photovoltaics and wind electric systems, that would benefit from foreign participation, but also identifies potential market opportunities for advanced solar desalination and other renewable energy technologies. 31 refs.

  13. Oil palm research in context: identifying the need for biodiversity assessment.

    Directory of Open Access Journals (Sweden)

    Edgar C Turner

    Full Text Available Oil palm cultivation is frequently cited as a major threat to tropical biodiversity as it is centered on some of the world's most biodiverse regions. In this report, Web of Science was used to find papers on oil palm published since 1970, which were assigned to different subject categories to visualize their research focus. Recent years have seen a broadening in the scope of research, with a slight growth in publications on the environment and a dramatic increase in those on biofuel. Despite this, less than 1% of publications are related to biodiversity and species conservation. In the context of global vegetable oil markets, palm oil and soyabean account for over 60% of production but are the subject of less than 10% of research. Much more work must be done to establish the impacts of habitat conversion to oil palm plantation on biodiversity. Results from such studies are crucial for informing conservation strategies and ensuring sustainable management of plantations.

  14. Oil palm research in context: identifying the need for biodiversity assessment.

    Science.gov (United States)

    Turner, Edgar C; Snaddon, Jake L; Fayle, Tom M; Foster, William A

    2008-02-13

    Oil palm cultivation is frequently cited as a major threat to tropical biodiversity as it is centered on some of the world's most biodiverse regions. In this report, Web of Science was used to find papers on oil palm published since 1970, which were assigned to different subject categories to visualize their research focus. Recent years have seen a broadening in the scope of research, with a slight growth in publications on the environment and a dramatic increase in those on biofuel. Despite this, less than 1% of publications are related to biodiversity and species conservation. In the context of global vegetable oil markets, palm oil and soyabean account for over 60% of production but are the subject of less than 10% of research. Much more work must be done to establish the impacts of habitat conversion to oil palm plantation on biodiversity. Results from such studies are crucial for informing conservation strategies and ensuring sustainable management of plantations.

  15. Time Varying Market Integration and Expected Rteurns in Emerging Markets

    NARCIS (Netherlands)

    de Jong, F.C.J.M.; de Roon, F.A.

    2001-01-01

    We use a simple model in which the expected returns in emerging markets depend on their systematic risk as measured by their beta relative to the world portfolio as well as on the level of integration in that market.The level of integration is a time-varying variable that depends on the market value

  16. Value of flexible consumption in the electricity markets

    DEFF Research Database (Denmark)

    Biegel, Benjamin; Hansen, Lars Henrik; Stoustrup, Jakob

    2014-01-01

    A transition from an oil and coal based energy system to a systems based on renewable and sustainable energy sources has begun in many countries throughout the developed world. As a pioneer, Denmark currently has a wind energy penetration of 30% in the electricity sector and an end goal of 100......% renewables in all energy sectors by 2050. The main elements in this transition are an increase in the wind energy production and electrification of main energy sectors such as transport and heating. Activation of flexible consumption in the electricity markets is believed to be one of the means to compensate...... for the growth of fluctuating renewables and the decrease of conventional power plants providing system-stabilizing services. In this work, we examine the requirements for flexible consumption to be active in the spot market and the regulating power market in the Nordic system and estimate the costs of entering...

  17. Innovation and Technology Dissemination in Clean Technology Markets and The Developing World: The Role of Trade, Intellectual Property Rights, and Uncertainty

    Directory of Open Access Journals (Sweden)

    Kristina M. Lybecker

    2014-01-01

    Full Text Available Innovation is an inherently risky and uncertain process. Many of the broader challenges to innovation in general are both mirrored and exaggerated in clean technology innovation. The development of environmental technologies is further complicated by the public goods nature of knowledge, environmental externalities, and uncertainty. This study on clean technology focuses on recent work on the role of uncertainty, the participation of emerging and developing nations, the controversy surrounding intellectual property rights, and the variety of market actors and strategies in place. The paper also considers the policy instruments that are available, the cost, benefits and consequences of their use. As scholars continue to analyze when, where, why and how clean technology innovations are developed and adopted, it is essential that government policymakers aim to reduce uncertainty and risk, incentivize innovation with effective intellectual property rights, and foster transparency in the market. This continues to be a field of increasing future importance, and a rich area for continued academic study and analysis. Consumers, government policymakers and innovators would all benefit from a greater understanding of the process of technological change in the development, diffusion and financing of clean technologies.

  18. Effects of a Liberalized European Gas Market

    Energy Technology Data Exchange (ETDEWEB)

    Austvik, Ole Gunnar

    2003-07-01

    After World War II a position that for some time was called ''left-liberal'' tried to reconcile the values of individual freedom with social justice and a more egalitarian distribution of income. According to this perception, the government should let markets work if they satisfy social goals. However, if markets are non-competitive, either by nature or cartelization, often a public authority or a regulator must intervene in order to secure social goals, such as the provision of important goods and services, to avoid excessive pricing practices etc. If the results from competitive markets achieved either by actual competition or by public regulations bring about unacceptable injustice or inequality between persons, groups or regions, governments should intervene to correct this by redistributing income through taxes and subsidies, partnership schemes with the industry, and so on. For the functioning of natural gas markets, the most crucial element is the cost of, and access to, transportation. Cost of gas transportation is often characterized by strong elements of scale and scope economies, making transporting firms natural monopolies in the markets in which they operate. In Europe, many public utilities operating as natural monopolies were nationalized in the aftermath of World War II. Being monopolists by nature (but sometimes only by law) they were considered bottlenecks in the development of each nation's competitiveness. Probably the most frequently used argument explaining these firms' inefficient use of resources, has been the lack of competition. Liberalization of a market represents a departure from the ''one management'' approach. However, the particular aspect of by-nature non-competitive markets, such as major parts of the European gas market, is that the goals of competition cannot be achieved only by removal of trade barriers. If the most efficient operation of a market is done by one, or only a few

  19. The Role of Oil Prices in Exchange Rate Movements: The CIS Oil Exporters

    Directory of Open Access Journals (Sweden)

    Fakhri Hasanov

    2017-04-01

    Full Text Available Undoubtedly, oil prices play a crucial role in the macroeconomic performances of oil-exporting developing countries. In this regard, the exchange rate is one of the key macroeconomic indicators worthy of investigation. Existing literature shows that world oil prices play an important role in the appreciation of the exchange rates of oil-exporting developing countries. However, only a few studies have examined this issue by considering all three oil-exporting countries of the Commonwealth Independent States, namely Azerbaijan, Kazakhstan and Russia, together. In order to fill this gap and given the increasing importance of these economies in the world’s energy markets, this paper examines the role of oil prices in the movement of real effective exchange rates of the above-mentioned CIS countries. We applied the autoregressive distributed lag bounds testing method with a small sample bias correction to the data of these countries over the 2004Q1–2013Q4 period. The estimation results indicate that oil prices are certainly a main driver behind real effective exchange rate appreciation in the selected economies. Moreover, estimations show that productivity, to some extent, can also lead to the appreciation. The policy implication of this research is that an appreciation of the real exchange rate is harmful for the exports of non-oil goods and services in these countries. Since oil prices lead to the appreciation mainly through higher domestic prices, which is a result of tremendous public spending, decision-makers should reconsider the prevailing fiscal policy to make it much more counter-cyclical.

  20. How marketers handled deliveries last winter

    Energy Technology Data Exchange (ETDEWEB)

    1984-10-01

    A special study on how fuel oil marketers handled deliveries last winter is presented. A questionnaire was sent to the marketers asking how many fuel oil trucks they had, how penalties for small deliveries are assessed, and if many customers are calling for a summer fill. The results of the questionnaire are presented.