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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...
Persistent link: https://www.econbiz.de/10011551953
The total debt of the oil and gas sector globally stands at roughly $2.5 trillion, two and a half times what it was at the end of 2006. The recent fall in the oil price represents a significant decline in the value of assets backing this debt, introducing a new element to price developments. In...
Persistent link: https://www.econbiz.de/10013026117
Retail petroleum markets in Mexico are on the cusp of a historic deregulation. For decades, all 11,000 gasoline … regulated retail prices. This industry structure is changing, however, as part of Mexico's broader energy reforms aimed at … gasoline and diesel. In this paper, we provide an economic perspective on Mexico's nascent deregulation. Although in many ways …
Persistent link: https://www.econbiz.de/10012920356
Retail petroleum markets in Mexico are on the cusp of a historic deregulation. For decades, all 11,000 gasoline … regulated retail prices. This industry structure is changing, however, as part of Mexico's broader energy reforms aimed at … gasoline and diesel. In this paper, we provide an economic perspective on Mexico's nascent deregulation. Although in many ways …
Persistent link: https://www.econbiz.de/10012453169
This article contributes to the debate about the impact of the U.S. fracking boom on U.S. oil imports, on Arab oil exports, and on the global price of crude oil. First, I investigate the extent to which this oil boom has caused Arab oil exports to the United States to decline since late 2008....
Persistent link: https://www.econbiz.de/10011422578
Persistent link: https://www.econbiz.de/10011285969
Persistent link: https://www.econbiz.de/10011286257
This paper investigates the global macroeconomic consequences of country-specific oil-supply shocks. Our contribution is both theoretical and empirical. On the theoretical side, we develop a model for the global oil market and integrate this within a compact quarterly model of the global economy...
Persistent link: https://www.econbiz.de/10010528313
Persistent and significant privately-held stockpiles of crude oil have long been an important empirical regularity in the United States. Such stockpiles would not rationally be held in a traditional Hotelling-style model. How then can the existence of these inventories be explained? In the...
Persistent link: https://www.econbiz.de/10009419703
Persistent link: https://www.econbiz.de/10011455990