Gasoline demand, which represents almost a quarter of world petroleum consumption, has been the focus of a considerable amount of econometric work since the 1973 oil embargo. However, researchers and policymakers when considering this work are confronted with a bewildering array of elasticities...

Conventional wisdom holds that OPEC is a weakly functioning cartel with non-OPEC producers forming a "competitive fringe." However, several studies have challenged the cartel hypothesis for OPEC with a few even challenging the competitive hypothesis for non-OPEC producers. In this paper, we test...

Oil consumption in the developing world increased 37% over the decade of the 1980s. The 1990s promise to be more dynamic yet. In this paper we trace the evolution of these changes in the 1980s for Asia, Africa, Latin America, and the Middle East. Econometric work is used to determine how well...