An Analysis Of Opec S Strategic Actions Us Shale Growth And The 2014 Oil Price Crash

Author: Mr.Alberto Behar
Publisher: International Monetary Fund
ISBN: 1475534493
Size: 31.19 MB
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An Analysis Of Opec S Strategic Actions Us Shale Growth And The 2014 Oil Price Crash from the Author: Mr.Alberto Behar. In November 2014, OPEC announced a new strategy geared towards improving its market share. Oil-market analysts interpreted this as an attempt to squeeze higher-cost producers including US shale oil out of the market. Over the next year, crude oil prices crashed, with large repercussions for the global economy. We present a simple equilibrium model that explains the fundamental market factors that can rationalize such a "regime switch" by OPEC. These include: (i) the growth of US shale oil production; (ii) the slowdown of global oil demand; (iii) reduced cohesiveness of the OPEC cartel; (iv) production ramp-ups in other non-OPEC countries. We show that these qualitative predictions are broadly consistent with oil market developments during 2014-15. The model is calibrated to oil market data; it predicts accommodation up to 2014 and a market-share strategy thereafter, and explains large oil-price swings as well as realistically high levels of OPEC output.

Crude Volatility

Author: Robert McNally
Publisher: Columbia University Press
ISBN: 0231543689
Size: 66.46 MB
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Crude Volatility from the Author: Robert McNally. Oil is the lifeblood of modern civilization, ranking alongside food as one of our most critical commodities. It drives geopolitical, economic, and financial affairs, as well as environmental debates and policymaking. As the place of oil in our global economy has evolved, so too has the way we buy and sell it, with rudimentary transactions at the wellhead developing into a sophisticated and complex global market. Yet while today’s oil market bears little resemblance to the one born in the valleys and creeks of western Pennsylvania more than 150 years ago, one core feature remains: a natural tendency toward boom and bust price cycles that can devastate economies, trigger or prolong recessions, and undermine growth and investment. Tracing a history marked with conflict, intrigue, and extreme uncertainty, Robert McNally shows how—even from the very first years of the market—wild volatility in oil prices led to intensive efforts to stabilize price fluctuations and manage supply. First Rockefeller’s Standard Oil, then U.S. state regulators along with major international oil companies, and finally OPEC each enjoyed varying degrees of success in the pursuit of oil price stability. But the spectacular boom of 2008 and bust of 2015 have revealed a structural shift back to extreme oil price swings, the likes of which haven’t been seen for nearly a century. Crafting an engrossing journey from the gushing New England oil fields to the fraught and fractious Middle East, Crude Volatility provides a crucial perspective that discards distractions and tired myths, shows lessons learned from prior mistakes, and provides the historical foundation we need to face, understand, and surmount the challenges ahead.

Africa S New Energy Producers

Author: Jennifer G. Cooke
Publisher: Rowman & Littlefield
ISBN: 1442240628
Size: 10.41 MB
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Africa S New Energy Producers from the Author: Jennifer G. Cooke. Sub-Saharan Africa is on the verge of an energy boom. New discoveries off the East and West coasts have raised hopes of significant revenues that can accelerate poverty reduction and enhance Africa’s status as a destination for industrial investment. The question that African governments, citizens, and international partners confront is whether this time will—or can—be different. Can the harsh lessons offered by Africa’s more established producers and the continent’s previous energy booms be learned?

World Economic Outlook April 2015

Author:
Publisher: International Monetary Fund
ISBN: 1475550693
Size: 64.94 MB
Format: PDF, Mobi
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World Economic Outlook April 2015 from the Author: . Global growth remains moderate and uneven, and a number of complex forces are shaping the outlook. These include medium- and long-term trends, global shocks, and many country- or region-specific factors. The April 2015 WEO examines the causes and implications of recent trends, including lower oil prices, which are providing a boost to growth globally and in many oil-importing countries but are weighing on activity in oil-exporting countries, and substantial changes in exchange rates for major currencies, reflecting variations in country growth rates and in exchange rate policies and the lower price of oil. Additionally, analytical chapters explore the growth rate of potential output across advanced and emerging market economies, assessing its recent track and likely future course; and the performance of private fixed investment in advanced economies, which has featured prominently in the public policy debate in recent years, focusing on the role of overall economic weakness in accounting for this performance.

International Arctic Petroleum Cooperation

Author: Anatoli Bourmistrov
Publisher: Routledge
ISBN: 1317667417
Size: 25.86 MB
Format: PDF, ePub, Docs
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International Arctic Petroleum Cooperation from the Author: Anatoli Bourmistrov. The Arctic region contains large amounts of natural resources considered necessary to sustain global economic growth, so it is unsurprising that it is increasingly susceptible to political, economic, environmental, and even military conflicts. This book looks in detail at the preconditions and outlook for international cooperation on the development of Arctic petroleum resources, focusing on Norwegian–Russian cooperation in the Barents Sea towards 2025. The authors provide a cross-disciplinary approach including geopolitical, institutional, technological, corporate and environmental perspectives to analyse the underlying factors that shape the future development of the region. Three future scenarios are developed, exploring various levels of cooperation and development influenced by and resulting from potential political, commercial and environmental circumstances. Through these scenarios, the book improves understanding of the challenges and opportunities for Arctic petroleum resource development and promotes further consideration of the possible outcomes of future cooperation. The book should be of interest to students, scholars and policy-makers working in the areas of Arctic studies, oil and gas studies, energy security, global environmental governance, environmental politics and environmental technology.

International Resource Politics In The Asia Pacific

Author: Jeffrey David Wilson
Publisher: Edward Elgar Publishing
ISBN: 178643847X
Size: 50.69 MB
Format: PDF, Kindle
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International Resource Politics In The Asia Pacific from the Author: Jeffrey David Wilson. Resource security is a new battleground in the international politics of the Asia-Pacific. With demand for minerals and energy surging, disputes are emerging over access and control of scarce natural resource endowments. Drawing on critical insights from political economy, this book explains why resources have emerged as a source of inter-state conflict in the region.

Finance Development September 2014

Author: International Monetary Fund. External Relations Dept.
Publisher: International Monetary Fund
ISBN: 1475567294
Size: 71.90 MB
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Finance Development September 2014 from the Author: International Monetary Fund. External Relations Dept.. This year, we mark the 70th anniversary of the IMF and World Bank and the 50th anniversary of F&D. The world has seen a staggering amount of change in the past seven decades. So, with these two anniversaries in mind we focused our attention on the transformation of the global economy—looking back and looking ahead. What will the global economy look like in another 70 years? Five Nobel laureates—George Akerlof, Paul Krugman, Robert Solow, Michael Spence, and Joseph Stiglitz—share their thoughts on which single “frontier” issue promises to shape the economic landscape in the years ahead. In “A World of Change,” Ayhan Kose and Ezgi Ozturk chart the economic transformations of the past 70 years. Martin Wolf looks at the perils and promise of globalization in “Shaping Globalization.” IMF Chief Christine Lagarde charts a course for the IMF in the next decade in Straight Talk IMF Chief Economist Olivier Blanchard distills the lessons of the 2008 global financial crisis in “Where Danger Lurks.” This issue also features cartoonist Nick Galifianakis and Joe Procopio telling the story of the IMF’s origins in a seven-page comic. The People in Economics series profiles a giant in economics—Nobel winner and Stanford professor Ken Arrow, who built on an early passion for math and work in meteorology during World War II to launch a storied career in economics. Articles on the future of energy in the global economy by Jeffrey Ball and on measuring inequality—the most hotly debated economic issue of recent days—by Jonathan Ostry and Andrew Berg round out the package.

The Ocean Economy In 2030

Author: Organisation for Economic Co-Operation and Development (OECD)
Publisher: IWA Publishing
ISBN: 1780408919
Size: 79.46 MB
Format: PDF, ePub, Mobi
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The Ocean Economy In 2030 from the Author: Organisation for Economic Co-Operation and Development (OECD). This report explores the growth prospects for the ocean economy, its capacity for future employment creation and innovation, and its role in addressing global challenges. Special attention is devoted to the emerging ocean-based industries in light of their high growth and innovation potential, and contribution to addressing challenges such as energy security, environment, climate change and food security.The report examines the risks and uncertainties surrounding the future development of ocean industries, the innovations required in science and technology to support their progress, their potential contribution to green growth and some of the implications for ocean management. Finally, and looking across the future ocean economy as a whole, it explores possible avenues for action that could boost its long-term development prospects while managing the use of the ocean itself in responsible, sustainable ways. This book belongs to the OECD Report Series

The Ocean Economy In 2030

Author: OECD
Publisher: OECD Publishing
ISBN: 9264251723
Size: 56.49 MB
Format: PDF
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The Ocean Economy In 2030 from the Author: OECD. This report explores the growth prospects for the ocean economy, its capacity for future employment creation and innovation, and its role in addressing global challenges. Special attention is devoted to the emerging ocean-based industries.

Changing Energy

Author: John H. Perkins
Publisher: Univ of California Press
ISBN: 0520287797
Size: 66.91 MB
Format: PDF
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Changing Energy from the Author: John H. Perkins. "Changing Energy outlines how humanity came to its current energy economy through three previous energy transitions and now stands poised for a necessary fourth one. Despite the immense benefits conferred by a global energy economy based primarily on coal, oil, gas, and uranium, societies must now rebuild their energy economies to rely as much as possible on renewable energy used efficiently. This imperative to change comes from the risks of climate change plus the dangers of geopolitical tensions, health and environmental effects, and the long-term prospects for ever depleting sources of today's energy sources. Changing Energy argues that sustainability of the benefits from energy services will come from investments made in the technologies of the fourth transition. Perkins envisions a viable post-fossil fuel energy economy and outlines the barriers that must be resolved to reach it."--Provided by publisher.