Vor dem Hintergrund der grunsätzlichen Bedeutung einer sicheren Versorgung mit leitungsgebundenen Energien und den großen Versorgungsstörungen der letzten Jahre hat der Gesetzgeber in §51 ENWG das Bundesministerium beauftragt, eine Monitoring der Versorgungssicherheit sicherzustellen.Als...

In practice, central banks have been confronted with a trade-off between stabilising inflation and output when dealing with rising oil prices. This contrasts with the result in the standard New Keynesian model that ensuring complete price stability is the optimal thing to do, even when an oil...

Predictions from the original geophysical approach to oil explorationand production suggest that oil production will develop according to a predeterminedand inflexible bell-shaped trajectory, quite independent of variables relatingto technological development, economics, and policy. Exploring...

Topical issues in petroleum tax design are in this chapter discussed by means of a tax model for anet income tax system (Norway) and a representative PSA regime. We analyse the entire lifecycle of a typical petroleum project, i.e., the exploration decision is included. Many petroleumtax systems...

This paper analyses mutual causalities between crude oil price and euro / US dollar exchange rate. Instead of focusing on long-run macroeconomic linkages like the bulk of therelevant literature, the present approach takes a financial markets perspective using daily data. The fast-running...

In this study, we examine the relationship between the U.S. real price of oil and factors thataffect its movement over time: futures prices, the value of the dollar, exploration, demand, andsupply. All of these variables are treated as jointly endogenous and a reduced form vector errorcorrection...

While some of the recent surge of oil prices can be attributed to robust global demandat a time of tight production capacities, commentators occasionally also blame theimpact of speculators for part of the price pressure. We propose an empirical oil market model with heterogeneous speculators....