In this paper, we present what is to our knowledge the first theoretical economic analysis of CO2- enhanced oil … recovery (EOR). This technique, which has been used successfully in a number of oil plays (notably in West Texas, Wyoming, and … Saskatchewan), entails injection of CO2 into mature oil fields in a manner that reduces the oil's viscosity, thereby enhancing the …

, the real price of oil has tended to be highly persistent and volatile whenever rapid industrialization in a major world …We test for changes in price behavior in the longest crude oil price series available (1861-2008). We find strong … account for the increased volatility of oil price we observe in these periods …

This paper examines the factors responsible for changes in crude oil prices. The paper reviews the statistical behavior … of oil prices, relates these to the predictions of theory, and looks in detail at key features of petroleum demand and … although scarcity rent made a negligible contribution to the price of oil in 1997, it could now begin to play a role …

We develop a five-region version (Canada, a group of oil exporting countries, the United States, emerging Asia and … Japan plus the euro area) of the Global Economy Model (GEM) encompassing production and trade of crude oil, and use it to … study the international transmission mechanism of shocks that drive oil prices. In the presence of real adjustment costs …

An oil lease auction is the classic example motivating a common values model. However, formal testing for common values … U.S. offshore oil and gas lease auctions. We find that ignoring unobserved heterogeneity in the empirical model obscures …

transport it to the Gulf Coast where it could access the world oil market. As a result, the U.S. "benchmark" crude oil price in …Beginning in early 2011, crude oil production in the U.S. Midwest and Canada surpassed the pipeline capacity to … Cushing, Oklahoma, declined substantially relative to internationally traded oil. In this paper, we study how this development …

whether the U.S. share of world oil imports is more or less than its share of OPEC asset holdings; in the long run, whether …This paper develops a simple theoretical model of the effect of an oil price increase on exchange rates. The model … shows that the direction of this effect depends on a comparison of the direct balance of payments burden of the higher oil …

the world economy. We analyze the impact of the advent of fracking on the volatility of oil prices. Our model predicts a …We use a new micro data set to estimate a stochastic industry-equilibrium model of the oil industry. This effort is a … first step towards studying the importance of ongoing structural changes in the oil market in a general-equilibrium model of …

The substantial fluctuations in oil prices in the wake of the COVID-19 pandemic and the Russian invasion of Ukraine … have highlighted the importance of tail events in the global market for crude oil which call for careful risk assessment …. In this paper we focus on forecasting tail risks in the oil market by setting up a general empirical framework that …

around the world suggests that for countries like Russia with an established oil industry, even large increases in the scale … wealth tends to undermine democracy. Given high oil prices, some observers see the country as virtually condemned to … industrialized economy, a highly educated, urbanized population, and an oil sector that remains majority private-owned--is unlikely …