The Economics of Oil and Gas
Author | : Xiaoyi Mu |
Publisher | : |
Total Pages | : |
Release | : 2020 |
Genre | : BUSINESS & ECONOMICS |
ISBN | : 9781911116295 |
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Author | : Xiaoyi Mu |
Publisher | : |
Total Pages | : |
Release | : 2020 |
Genre | : BUSINESS & ECONOMICS |
ISBN | : 9781911116295 |
Author | : S.W. Carmalt |
Publisher | : Springer |
Total Pages | : 121 |
Release | : 2016-12-26 |
Genre | : Business & Economics |
ISBN | : 3319478192 |
This book examines the ways that oil economics will impact the rapidly changing global economy, and the oil industry itself, over the coming decades. The predictions of peak oil were both right and wrong. Oil production has been constrained in relation to demand for the past decade, with a resulting four-fold increase in the oil price slowing the entire global economy. High oil prices have encouraged a small increase in oil production, and mostly from the short-lived “fracking revolution,” but enough to be able to claim that “peak oil” was a false prophecy. The high oil price has also engendered massive exploration investments, but remaining hydrocarbon stocks generally offer poor returns in energy (the energy return on investment or EROI) and financial terms, and no longer replace the reserves being produced. As a result, the economically powerful oil companies are under great pressure, both financially and politically, as oil remains the backbone of the global economy./div”Development scenarios and political pressure for growth as a means of solving economic woes both require more net energy, which is the amount of energy available after energy (and thus financial) inputs required for new sources to come on line are deducted. In today’s economy, more energy usually means more oil. Although a barrel of oil from any source may look the same, “tight oil” and oil from tar sands require much higher prices to be profitable for the producer; these expensive sources have very different economic implications from the conventional oil supplies that underpinned economic growth for most of the 20th century. The role of oil in the global economy is not easily changed. Since currently installed infrastructure assumes oil, a change implies more than just substitution of an energy source. The speed with which such basic structural changes can be made is also constrained, and ultimately themselves dependent on fossil fuel inputs. It remains unclear how this scenario will evolve, and that uncertainty adds additional economic pressure to the investment decisions that must be made. “Drill baby drill” and new pipeline projects may be attractive politically, but projections of economic and associated oil production growth based on past performance are clearly untenable.
Author | : Alberto Clo |
Publisher | : Springer Science & Business Media |
Total Pages | : 269 |
Release | : 2013-03-09 |
Genre | : Business & Economics |
ISBN | : 1475760612 |
In 20th century society, oil has played a fundamental role not only from the economic point of view, but also from the point of view of the political relationships established between major Western countries and oil-producing countries. A survey into oil history, its market dynamics and price evolution, is essential for a deeper understanding of modern industry and world economy, as world development depends on oil supplies, prices, and its political accessibility. Oil Economics and Policy follows the historical development of the oil industry, and inevitably also covers many aspects of energy resource economy. In so doing, it pays particular attention to one aspect, namely, the fixing of oil prices. This is mainly in order to attempt to understand whether, and by how much, the structural transformations that the oil industry has undergone during the various phases of its existence - and the various market structures deriving from them - have influenced the dynamics of oil prices. Alberto Clô is Professor of Industrial Economics at the University of Bologna. Minister of Industry and Trade during Lamberto Dini's government (January 1995-May 1996), he has been a member both of national and international scientific boards and of ministerial committees. He is author of numerous writings on industrial and energy economies and editor-in-chief of the journal Energia.
Author | : Paul H. Frankel |
Publisher | : Psychology Press |
Total Pages | : 210 |
Release | : 1969 |
Genre | : Business & Economics |
ISBN | : 0714612200 |
First Published in 1969. Routledge is an imprint of Taylor & Francis, an informa company.
Author | : Robert McNally |
Publisher | : Columbia University Press |
Total Pages | : 336 |
Release | : 2017-01-17 |
Genre | : Business & Economics |
ISBN | : 0231543689 |
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.
Author | : Jean Masseron |
Publisher | : Editions OPHRYS |
Total Pages | : 542 |
Release | : 1990 |
Genre | : Petroleum industry and trade |
ISBN | : 9782710810681 |
Author | : Cyrus Bina |
Publisher | : Merlin Press |
Total Pages | : 184 |
Release | : 1985 |
Genre | : Business & Economics |
ISBN | : |
Author | : M.A. Al-Sahlawi |
Publisher | : CRC Press |
Total Pages | : 468 |
Release | : 1992-01-22 |
Genre | : Technology & Engineering |
ISBN | : 9780824784287 |
Revised and updated to reflect major changes in the field, this second edition presents an integrated and balanced view of current attitudes and practices used in sound economic decision-making for engineering problems encountered in the oil industry. The volume contains many problem-solving examples demonstrating how economic analyses are applied to different facets of the oil industry.;Discussion progresses from an introduction to the industry, through principles and techniques of engineering economics, to the application of economic methods to the oil industry. It provides information on the types of crude oils, their finished products and resources of natural gas, and also summarizes worldwide oil production and consumption data.
Author | : Helen Thompson |
Publisher | : Springer |
Total Pages | : 127 |
Release | : 2017-05-18 |
Genre | : Political Science |
ISBN | : 3319525093 |
This book explains the place of oil in the economic and political predicaments that now confront the West. Thompson explains the problems that the rising cost of oil posed in the years leading up to the 2008 crash, and the difficulties that a volatile oil market now poses to economic recovery under the conditions of high debt, low growth and quantitative easing. The author argues that the 'Gordian knot' created by the economic and political dynamics of supply and demand oil in the present international economy poses a fundamental challenge to the assumption of economic progress embedded in Western democratic expectations.
Author | : Joseph P. Kalt |
Publisher | : Cambridge, Mass. : MIT Press |
Total Pages | : 360 |
Release | : 1981 |
Genre | : Business & Economics |
ISBN | : |