Exploiting the structural developments suggested by the geography-of-trade literature, we estimate the elasticity of substitution across regional varieties for six crude grades and seven refined products using fixed-effects gravity regressions. We use unique data, compiled by Al-Qahtani (2008),...

Front Cover -- Contents -- Acknowledgments -- Figures -- Tables -- CH 1 - Introduction to Our Journey -- CH 2 - Energy Lessons from the Past and Modeling the Future -- CH 3 - Perfect Competition and the Coal Industry -- CH 4 - Energy Price Controls, Taxes, Subsidies, and Social Welfare -- CH 5 -...