This paper investigates the asymmetric response of gasoline prices to changes in input costs, otherwise known as the rockets and feathers hypothesis. Using daily data for Western Australia, I estimate a multi-level error correction model (ECM) to investigate the relationship between upstream and...

Substitution of petroleum fuels with biofuels such as ethanol and biodiesel has been shown to reduce greenhouse gas (GHG) emissions. These GHG reductions can be traded in the emerging carbon markets, and methodologies for quantifying and trading are still being developed. The main challenges in...

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...

A central question in the analysis of fuel-economy policy is whether consumers are myopic with regards to future fuel costs. We provide the first evidence on consumer valuation of fuel economy from a natural experiment. We examine the short-run equilibrium effects of an exogenous restatement of...

Este nuevo estudio de Fedesarrollo sobre el sector de bienes y servicios petroleros estudia la dinámica del sector sobre el desarrollo regional en los siguientes departamentos: Casanare, Huila, Meta y Santander. El estudio se concentra en la provisión de bienes y servicios típicamente...

This paper provides the first empirical study of the market structure of the shale gas drilling industry in the United States. Modern shale gas drilling, which is a major revolution in the energy industry, was highly concentrated during its experimental stage, roughly from the early 1980s to the...

Russia and four other CIS countries - Azerbaijan, Kazakhstan, Turkmenistan and Uzbekistan - are important energy producers and possess substantial reserves, particularly as far as natural gas is concerned. Russia alone accommodates about one quarter of the global gas reserves and has established...

This study examines the response of oil contracts to extreme price movements. The chosen contract form is a Production-Sharing Agreement (PSA) which is the oil industry`s equivalent of sharecropping and one of the most commonly used contractual agreements. We show that only the two significant...

This is the first academic paper that reviews the economic, policy, and technology history of shale gas development in the United States. The primary objective of the paper is to answer the question of what led to the shale gas boom in the United States to help inform stakeholders in those...

Multiple gas dependencies have evolved in terms of imports (sources), exports (markets) and transit of gas, both among the post-Soviet countries as well as between the post-Soviet countries and countries outside the post-Soviet space. To a significant extent, these dependencies are based on the...