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We reconsider the conclusions about the importance of oil demand shocks and the unimportance of supply shocks reported by Kilian (2009). We investigate whether the proxy for worldwide real economic activity, dry bulk maritime freight costs, represents anything more than transportation costs by...
Persistent link: https://www.econbiz.de/10010729339
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...
Persistent link: https://www.econbiz.de/10014469586
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...
Persistent link: https://www.econbiz.de/10014364721
consider four model scenarios. The first two consider a principal representing a cartel that invests and extracts to maximize … subject to the decisions of the other cartel. The scenarios include several realistic features such as convex demand …
Persistent link: https://www.econbiz.de/10013298075
. Advances in hydraulic fracturing technology have led to a shale gas boom in the United States, significantly lowering natural … compared to these numbers, European shale gas exploration remains in its infancy and commercial scale gas extraction has yet to … environmental and health concerns. As shale gas exploration progresses further and is commercially developed, many previously …
Persistent link: https://www.econbiz.de/10014141560
This article studies the likely impact of unconventional gas developments in the US on EU competitiveness. We find, first of all, little evidence for a prosperous unconventional gas development in Europe. Second, the US boom has already a strong impact on both world and European energy markets....
Persistent link: https://www.econbiz.de/10010476431
This article studies the likely impact of unconventional gas developments in the U.S. on EU competitiveness. We find, first of all, little evidence for a prosperous unconventional gas development in Europe. Second, the U.S. boom has already a strong impact on both world and European energy...
Persistent link: https://www.econbiz.de/10010422070