Motivated by the ongoing war in Ukraine and the public 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 their fiel
(OPEC) have all exercised it with varying degree of success. OPEC has been the least successful and failed to manage depletion. Some researchers even argue that U.S. embargos on some of the oil-producing countries are a form of oil market management to support oil prices. OPEC does not ...
(b) Natural gas export prices have tended to be too low. Low pipeline natural gas prices to Europe were a major reason why Russia wanted to shift its natural gas exports toward China and other Asian countries, where prices might be higher. US natural gas producers are also unhappy about th...
Posted in Energy and Geostrategy, EU gas, Euroepen Union, gas crisis, Germany, Global Oil Market, Global Oil system, Hugo Chávez, Oil Crisis, Oil prices, Oil supply, OPEC, Russia, Sanctions, Ukraine, Uncategorized Tagged European Union, oil, oil market, oil prices, OPEC, Putin, Russia...
An oil crisis had shot gas prices up to a wincing all-time high of $4.11 per gallon, squeezing our wallets and causing […] Is a world population of seven billion sustainable? On the eve of the world’s population reaching 7 billion, leading minds discuss what the future holds for our...
The main contributing factor to these glowing financials is sustained high oil and gas prices. With average Brent oil prices estimated at $111 per barrel in 2022, a Henry Hub gas price at $4.2 per thousand cubic feet (Mcf) and a European gas price of $25 per Mcf...
HOUSTON — This holiday season, consumers can expect a gift that should ease their burdens a bit: modestly lower gasoline prices. Retail gas prices have been slipping gradually for weeks, thanks to the recent fall in oil prices. Some experts think the national average price for a gallon of ...
Great. Next question again is from John Bair. How did the Ultra Pet deal unfold? What was the catalyst for them to join the Oil-Dri family versus any of your larger competitors? Chris, can you answer that, please? Chris Lamson--Group Vice President, Retail and Wholesale ...
But every market has its losers and winners, and negative prices were likely “better” — dare we say much better — for those buying gas in the Permian. Today, we look at some of the players that are benefitting from negative Permian natural gas prices. The Permian gas market has ...
Solar-based setups, after initial investment, do not have the high marginal costs of production as do gas-based setups, and are not subject to market fluctuations in natural gas prices. Chhetri and Islam (2008) showed that while solar setups are subject to significantly higher initial ...