Crude Volatility

Crude Volatility

Author: Robert McNally

Publisher: Columbia University Press

Published: 2017-01-17

Total Pages: 336

ISBN-13: 0231543689

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As OPEC has loosened its grip over the past ten years, the oil market has been rocked by wild price swings, the likes of which haven't been seen for eight decades. Crafting an engrossing journey from the gushing Pennsylvania oil fields of the 1860s to today's fraught and fractious Middle East, Crude Volatility explains how past periods of stability and volatility in oil prices help us understand the new boom-bust era. Oil's notorious volatility has always been considered a scourge afflicting not only the oil industry but also the broader economy and geopolitical landscape; Robert McNally makes sense of how oil became so central to our world and why it is subject to such extreme price fluctuations. Tracing a history marked by conflict, intrigue, and extreme uncertainty, McNally shows how—even from the oil industry's first years—wild and harmful price volatility prompted industry leaders and officials to undertake extraordinary efforts to stabilize oil prices by controlling production. Herculean market interventions—first, by Rockefeller's Standard Oil, then, by U.S. state regulators in partnership with major international oil companies, and, finally, by OPEC—succeeded to varying degrees in taming the beast. McNally, a veteran oil market and policy expert, explains the consequences of the ebbing of OPEC's power, debunking myths and offering recommendations—including mistakes to avoid—as we confront the unwelcome return of boom and bust oil prices.


The End of Oil

The End of Oil

Author: Paul Roberts

Publisher: Houghton Mifflin Harcourt

Published: 2005-04-05

Total Pages: 401

ISBN-13: 0547525117

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“A stunning piece of work—perhaps the best single book ever produced about our energy economy and its environmental implications” (Bill McHibbon, The New York Review of Books). Petroleum is so deeply entrenched in our economy, politics, and daily lives that even modest efforts to phase it out are fought tooth and nail. Companies and governments depend on oil revenues. Developing nations see oil as their only means to industrial success. And the Western middle class refuses to modify its energy-dependent lifestyle. But even by conservative estimates, we will have burned through most of the world’s accessible oil within mere decades. What will we use in its place to maintain a global economy and political system that are entirely reliant on cheap, readily available energy? In The End of Oil, journalist Paul Roberts talks to both oil optimists and pessimists around the world. He delves deep into the economics and politics, considers the promises and pitfalls of oil alternatives, and shows that—even though the world energy system has begun its epochal transition—we need to take a more proactive stance to avoid catastrophic disruption and dislocation.


States in the Developing World

States in the Developing World

Author: Miguel A. Centeno

Publisher: Cambridge University Press

Published: 2017-02-27

Total Pages: 493

ISBN-13: 1107158494

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An exploration of how states address the often conflicting challenges of development, order, and inclusion.


The Powers That Be

The Powers That Be

Author: Scott L. Montgomery

Publisher: University of Chicago Press

Published: 2010-07-15

Total Pages: 366

ISBN-13: 0226535010

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Thirty years ago, our global energy landscape did not look remarkably different from what it does today. Three or four decades from now, it certainly will: dwindling oil reserves will clash with skyrocketing demand, as developing nations around the world lead their citizens into the modern energy economy, and all the while, the grave threat of catastrophic climate change looms ever larger. Energy worries are at an all-time high—just how will we power our future? With The Powers That Be, Scott L. Montgomery cuts through the hype, alarmism, and confusion to give us a straightforward, informed account of where we are now, and a map of where we’re going. Starting with the inescapable fact of our current dependence on fossil fuels—which supply 80% of all our energy needs today—Montgomery clearly and carefully lays out the many alternative energy options available, ranging from the familiar, like water and solar, to such nascent but promising sources as hydrogen and geothermal power. What is crucial, Montgomery explains, is understanding that our future will depend not on some single, wondrous breakthrough; instead, we should focus on developing a more diverse, adaptable energy future, one that draws on a variety of sources—and is thus less vulnerable to disruption or failure. An admirably evenhanded and always realistic guide, Montgomery enables readers to understand the implications of energy funding, research, and politics at a global scale. At the same time, he doesn’t neglect the ultimate connection between those decisions and the average citizen flipping a light switch or sliding behind the wheel of a car, making The Powers That Be indispensible for our ever-more energy conscious age.


Oil Price Volatility and the Role of Speculation

Oil Price Volatility and the Role of Speculation

Author: Samya Beidas-Strom

Publisher: International Monetary Fund

Published: 2014-12-12

Total Pages: 34

ISBN-13: 1498333486

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How much does speculation contribute to oil price volatility? We revisit this contentious question by estimating a sign-restricted structural vector autoregression (SVAR). First, using a simple storage model, we show that revisions to expectations regarding oil market fundamentals and the effect of mispricing in oil derivative markets can be observationally equivalent in a SVAR model of the world oil market à la Kilian and Murphy (2013), since both imply a positive co-movement of oil prices and inventories. Second, we impose additional restrictions on the set of admissible models embodying the assumption that the impact from noise trading shocks in oil derivative markets is temporary. Our additional restrictions effectively put a bound on the contribution of speculation to short-term oil price volatility (lying between 3 and 22 percent). This estimated short-run impact is smaller than that of flow demand shocks but possibly larger than that of flow supply shocks.


Review and Outlook for the World Oil Market

Review and Outlook for the World Oil Market

Author: Shane S. Streifel

Publisher: World Bank Publications

Published: 1995-01-01

Total Pages: 174

ISBN-13: 9780821334430

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After the collapse of the Soviet system, the immense problems of environmental pollution in Central and Eastern Europe were widely publicized. Less well known were its effects on health in the region, which have led to a serious health crisis. This report examines the degree to which the pollution adversely affected human health, putting it in the context of other health determinants such as socioeconomic factors, health care standards and availability, and lifestyle factors. Among the numerous pollutants, the report points to lead, dust, toxic gases, and nitrates in rural water supplies as having a significant impact on health in Central and Eastern Europe. The author suggests possible avenues for international action. However, an analysis of the determinants of health reveals that addressing the pollution problems alone will not solve the health crisis. Improving health in this region will depend on the changing economic fortunes of individual countries and the ability of each to create a supportive social environment for its citizens.


Peaking of World Oil Production

Peaking of World Oil Production

Author: Robert Louis Hirsch

Publisher: Nova Science Publishers

Published: 2007

Total Pages: 126

ISBN-13:

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The peaking of world oil production presents the U.S. and the world with an unprecedented risk management problem. As peaking is approached, liquid fuel prices and price volatility will increase dramatically, and without timely mitigation, the economic, social, and political costs will be unprecedented. Viable mitigation options exist on both the supply and demand sides, but to have substantial impact, they must be initiated more than a decade in advance of peaking. Dealing with world oil production peaking will be extremely complex, involve literally trillions of dollars and require many years of intense effort. To explore these complexities, three alternative mitigation scenarios are analysed: scenario I assumes that action is not initiated until peaking occurs; scenario II assumes that action is initiated 10 years before peaking; scenario III assumes action is initiated 20 years before peaking. For this analysis estimates of the possible contributions of each mitigation option were developed, based on an assumed crash program rate of implementation.


Advances in Petroleum Technology

Advances in Petroleum Technology

Author: Subrata Borgohain Gogoi

Publisher: CRC Press

Published: 2020-11-25

Total Pages: 429

ISBN-13: 1000075036

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An impending energy crisis is looming globally, which has led to the use of effluents from paper mills for enhanced oil recovery (EOR), CO2 flooding and wastewater treatment by biosurfactants, and the current market demand for cost-competitive and environment-friendly alternatives to synthetic chemicals. This up-to-date book on petroleum technology provides a comprehensive review of the background and recent advances in the field of petroleum technology and highlights various facets of the fascinating world of upstream, midstream and downstream petroleum technologies. It comprises 25 chapters, each representing the progress, prospects and challenges in petroleum research, and focuses on the tremendous progress made by the scientific community in this research field. The book covers in detail EOR processes, reservoir engineering, production operation and optimisation, pipeline transportation and storage, CO2 capture and sequestration, wastewater management and innovative treatment, refining technologies, environmental chemistry, and biochemistry and biotechnology for the petroleum industry.