Analysis of oil-price movements is once again an important feature of economic policy discussions. To provide some background for this analysis, this paper summarizes a conference on the oil market held at the Federal Reserve Bank of Boston in June 2010. Four cross-cutting themes emerged from...

I use detailed field-level data on Norwegian offshore oil production and a semi-parametric additive model to control for the production profile of fields to estimate the effect of oil prices on production. I find no significant evidence of a concurrent reaction of field production to oil prices,...

Analysis of oil-price movements is once again an important feature of economic policy discussions. To provide some background for this analysis, this paper summarizes a conference on the oil market held at the Federal Reserve Bank of Boston in June 2010. Four cross-cutting themes emerged from...

Analysis of oil-price movements is once again an important feature of economic policy discussions. To provide some background for this analysis, this paper summarizes a conference on the oil market held at the Federal Reserve Bank of Boston in June 2010. Four cross-cutting themes emerged from...

This paper examines the supply of U.S. LTO from both a theoretical and empirical point of view. The theory model combines endogenous rig activity and stylized reservoir pressure mechanics with the classic Hotelling model for exhaustible resource extraction. The empirical section presents a...

Die Entwicklung in den vergangenen Jahren hat gezeigt, dass die Öl- und Gaspreise beträchtlichen Schwankungen unterliegen. Dabei ist klar geworden, dass langfristig die Knappheit der Ressourcen die Preise der fossilen Energieträger dramatisch steigern wird. Die Ressourcen sind begrenzt, aber...

Der Preis für Rohöl hat sich seit der Jahrtausendwende erheblich erhöht. Für Deutschland wurde der Preisanstieg durch die Aufwertung des Euro gegenüber dem US-Dollar leicht gedämpft. Aus Sicht der Verbraucher macht sich der Ölpreisanstieg besonders deutlich an den Tankstellen bemerkbar....

This paper proposes a partial equilibrium model to describe the global crude oil market. Pricing on the global crude oil market is strongly influenced by price indices such as WTI (USA) and Brent (Northwest Europe). Adapting an approach for pool-based electricity markets, the model captures the...

The increasing use of food commodities for biofuel production has substantial impact on prices and quantities of these and other food commodities. It is therefore likely that this trend also intensifies the competition for arable land. However, evidence for this hypothesis is generated by...

We detect and quantify asymmetries in the volatility spillovers of petroleum commodities: crude oil, gasoline, and heating oil. The increase in volatility spillovers after 2001 correlates with the progressive financialization of the commodities. Further, increasing spillovers from volatility...