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Many international organizations and research institutions have released recently unequivocal scenarios on energy's future prospects. The peak in global oil production is likely to happen in the next ten to fifteen years, if it hasn't already happened, and decisions to be made in the near future are likely to have large impacts on our quality of life in the coming decades. This study presents an integrated tool for national energy planning customized to North America. The authors analyzed the impact of world oil production on economic, social and environmental indicators. Two cases of global ultimate recoverable oil reserves are considered, a low and medium estimate within current research. Three sets of policy...
President Bush has identified US dependence on imported oil as an urgent energy, economic, and national security concern. The President's energy plan promotes the development of domestic resources, based on the assumption that economic incentives and the opening of frontier areas for exploration will increase domestic production. If realized, this will reduce dependence on imported oil and reduce OPEC's ability to affect aggregate oil supply and price. The evidence suggests, however, that this policy will not increase significantly US production of crude oil, will not reduce significantly OPEC's influence, and it will distort the US macroeconomy. Even if allowed, production from the Arctic National Wildlife Refuge...
President Bush has identified US dependence on imported oil as an urgent energy, economic, and national security concern. The President's energy plan promotes the development of domestic resources, based on the assumption that economic incentives and the opening of frontier areas for exploration will increase domestic production. If realized, this will reduce dependence on imported oil and reduce OPEC's ability to affect aggregate oil supply and price. The evidence suggests, however, that this policy will not increase significantly US production of crude oil, will not reduce significantly OPEC's influence, and it will distort the US macroeconomy. Even if allowed, production from the Arctic National Wildlife Refuge...
This study revisits the OPEC cartel hypothesis using a case study. A test is conducted to see if Venezuela has its production Granger cause its OPEC quota or whether the OPEC quota for Venezuela Granger causes Venezuelan production. The results show both occur at different times. In the short run, OPEC's oil production quota for Venezuela Granger causes Venezuelan production. However, shortly after cuts, Venezuela cheats on agreements, suggesting a tit-for-tat oligopoly game, which is not anti-competitive. In the long run, we show that Venezuelan oil production Granger causes OPEC's quota for Venezuela, but not vice versa. Having Venezuelan oil production Granger cause OPEC quotas for Venezuela in the long run suggests...
Categories: Publication; Types: Citation; Tags: OPEC, Oil supply, Risk
President Bush has identified US dependence on imported oil as an urgent energy, economic, and national security concern. The President's energy plan promotes the development of domestic resources, based on the assumption that economic incentives and the opening of frontier areas for exploration will increase domestic production. If realized, this will reduce dependence on imported oil and reduce OPEC's ability to affect aggregate oil supply and price. The evidence suggests, however, that this policy will not increase significantly US production of crude oil, will not reduce significantly OPEC's influence, and it will distort the US macroeconomy. Even if allowed, production from the Arctic National Wildlife Refuge...
President Bush has identified US dependence on imported oil as an urgent energy, economic, and national security concern. The President's energy plan promotes the development of domestic resources, based on the assumption that economic incentives and the opening of frontier areas for exploration will increase domestic production. If realized, this will reduce dependence on imported oil and reduce OPEC's ability to affect aggregate oil supply and price. The evidence suggests, however, that this policy will not increase significantly US production of crude oil, will not reduce significantly OPEC's influence, and it will distort the US macroeconomy. Even if allowed, production from the Arctic National Wildlife Refuge...
President Bush has identified US dependence on imported oil as an urgent energy, economic, and national security concern. The President's energy plan promotes the development of domestic resources, based on the assumption that economic incentives and the opening of frontier areas for exploration will increase domestic production. If realized, this will reduce dependence on imported oil and reduce OPEC's ability to affect aggregate oil supply and price. The evidence suggests, however, that this policy will not increase significantly US production of crude oil, will not reduce significantly OPEC's influence, and it will distort the US macroeconomy. Even if allowed, production from the Arctic National Wildlife Refuge...
This paper deals with the pressing current global problem of the sudden price rise in food grains all over the world which is unprecedented. This has mainly arisen from use of food crops such as corn, sugar cane etc as bio-fuels. This paper suggests use of solar energy which is not only widely abundant, it also does not cause global warming, a harmful effect due to the combustion of fuels whether bio-fuels or fossil. This paper also suggests use of other forms of vehicles which are far more economical to use. In addition, this paper shows results of an efficient process of conversion of solar energy into useful forms; this process is the solar tracking process. If used world wide, one would obtain about 36% more...