This paper investigates the effect of uncertainty on the investment decisions of petroleum refineries in the US. We construct uncertainty measures from commodity futures market and use data on actual capacity changes to measure investment episodes. Capacity changes in US refineries occur...

This paper investigates the effect of uncertainty on the investment decisions of petroleum refineries in the U.S. We construct uncertainty measures from the commodity futures market and use data on actual capacity changes to measure investment episodes. Since capacity changes in U.S. refineries...

Small scale coal mines (SCMs) have played an important role in China’s energy supply. At the same time, they also suffer from many social, economic, environmental, and safety problems. The Chinese government has made considerable efforts to strengthen the safety regulation of the coal mining...