The US energy strategy that would change the outlook worldwide is that for replacing crude oil with other liquids fuels to run automotive engines. Other strategies wander off into exotics requiring subsidies to produce heat or electricity not diesel, heating oil or gasoline. There is no...

In this paper, we review studies of oil volatility prediction from a new perspective: that of investors who require economic evaluations of forecasting performance. Our results indicate that no single volatility model outperforms all of the competing models, of which GARCH and realized...

Motivated by the European Union's debate on sanctioning crude oil imports from Russia, we estimate the elasticity of substitution between different crude oil types. Using European data on country-level crude oil imports by field of origin, we argue that crude oil is not a homogenous good and...