The Economics of Oil and Gas PDF Download

Author: Xiaoyi Mu
Publisher:
ISBN: 9781911116295
Category : BUSINESS & ECONOMICS
Languages : en
Pages :

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Author: S.W. Carmalt
Publisher: Springer
ISBN: 3319478192
Category : Business & Economics
Languages : en
Pages : 121

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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: Fraser H. Allen
Publisher: Oil & Gas Consultants International, Incorporated
ISBN:
Category : Technology & Engineering
Languages : en
Pages : 608

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Author: Mr.Rabah Arezki
Publisher: International Monetary Fund
ISBN: 1475572360
Category : Business & Economics
Languages : en
Pages : 30

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This paper presents a simple macroeconomic model of the oil market. The model incorporates features of oil supply such as depletion, endogenous oil exploration and extraction, as well as features of oil demand such as the secular increase in demand from emerging-market economies, usage efficiency, and endogenous demand responses. The model provides, inter alia, a useful analytical framework to explore the effects of: a change in world GDP growth; a change in the efficiency of oil usage; and a change in the supply of oil. Notwithstanding that shale oil production today is more responsive to prices than conventional oil, our analysis suggests that an era of prolonged low oil prices is likely to be followed by a period where oil prices overshoot their long-term upward trend.

Author: Arnim Langer
Publisher: Leuven University Press
ISBN: 9462702004
Category : Social Science
Languages : en
Pages : 396

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Multidisciplinary perspectives to governance of oil in African countries Large quantities of oil were discovered in the Albertine Rift Valley in Western Uganda in 2006. The sound management of these oil resources and revenues is undoubtedly one of the key public policy challenges for Uganda as it is for other African countries with large oil and/or gas endowments. With oil expected to start flowing in 2021, the current book analyses how this East African country is preparing for the challenge of effectively, efficiently, and transparently managing its oil sector and resources. Adopting a multidisciplinary, comprehensive, and comparative approach, the book identifies a broad scope of issues that need to be addressed in order for Uganda to realise the full potential of its oil wealth for national economic transformation. Predominantly grounded in local scholarship and including chapters drawing on the experiences of Nigeria, Ghana, and Kenya, the book blazes a trail on governance of African oil in an era of emerging producers. Oil Wealth and Development in Uganda and Beyond will be of great interest to social scientists and economic and social policy makers in oil-producing countries. It is suitable for course adoption across such disciplines as International/Global Affairs, Political Economy, Geography, Environmental Studies, Economics, Energy Studies, Development, Politics, Peace, Security and African Studies. Contributors: Badru Bukenya (Makerere University), Moses Isabirye (Busitema University), Wilson Bahati Kazi (Uganda Revenue Authority), Corti Paul Lakuma (Economic Policy Research Centre), Joseph Mawejje (Economic Policy Research Centre), Pamela Mbabazi (Uganda National Planning Authority), Martin Muhangi (independent researcher), Roberts Muriisa (Mbarara University of Science and Technology), Chris Byaruhanga Musiime (independent researcher), Germano Mwabu (University of Nairobi), Jackson A. Mwakali (Makerere University), Tom Owang (Mbarara University of Science and Technology), Joseph Oloka-Onyango (Makerere University), Peter Quartey (University of Ghana), Peter Wandera (Transparency International Uganda), Kathleen Brophy (Transparency International Uganda), Jaqueline Nakaiza (independent researcher), Babra Beyeza (independent researcher), Jackson Byaruhanga (Bank of Uganda), Emmanuel Abbey (University of Ghana).

Author: Jean Masseron
Publisher: Editions OPHRYS
ISBN: 9782710810681
Category : Petroleum industry and trade
Languages : en
Pages : 542

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Author: Mr. Kangni R Kpodar
Publisher: International Monetary Fund
ISBN: 1616356154
Category : Business & Economics
Languages : en
Pages : 34

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This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.

Author: James G. Speight
Publisher: John Wiley & Sons
ISBN: 1118192540
Category : Technology & Engineering
Languages : en
Pages : 337

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The perfect primer for both the layperson and the engineer, for the new hire and the old hand, describing, in easy-to-understand language, one of the biggest and most lucrative industries in the world. There is only one substance known to mankind that can cause wars, influence global economies, and make entire countries rich: petroleum. One teaspoon of the stuff carries enough energy to power a ton truck up a hill. It's in the news every single day, it influences our lives in ways that we cannot fathom, and it is the most important commodity in the world. But how much does the average person, even the average engineer, know about it? This book describes the petroleum industry, in easy-to-understand language, for both the layperson and engineer alike. From the economics of searching for oil and gas to the pitfalls of drilling and production, getting it out of the ground, into pipelines, into refineries, and, finally, into your gas tank, this book covers the petroleum industry like no other treatment before. There is coverage of pricing and the economics of this very important resource, as well, which is useful not only to engineers, but to economists and, really, anyone who uses it. From jet fuel to gasoline to natural gas and plastics, petroleum is one of the integral products of our lives. We are practically bathed it in from birth, our food is protected by it, and it even has healing properties. Learn all about this incredible substance and its fascinating history and highly debated future. An Introduction to Petroleum Technology, Economics, and Politics: Gives a thorough summary of the petroleum and natural gas industry, from prospect to production to pipeline New technologies, such as directional and underbalanced drilling, are covered, in easy-to-understand language Useful not only for newcomers and laypersons, but for engineers and students, particularly those for whom English is a second language Examines the basics of pricing and valuation

Author: Hussein K. Abdel-Aal
Publisher: CRC Press
ISBN: 9780367684723
Category : Science
Languages : en
Pages : 0

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This book focuses on economic treatment of petroleum engineering operations and serves as a helpful resource for making practical and profitable decisions in oil and gas field development.

Author: Michael L. Ross
Publisher: Princeton University Press
ISBN: 0691159637
Category : Political Science
Languages : en
Pages : 314

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Explaining—and solving—the oil curse in the developing world Countries that are rich in petroleum have less democracy, less economic stability, and more frequent civil wars than countries without oil. What explains this oil curse? And can it be fixed? In this groundbreaking analysis, Michael L. Ross looks at how developing nations are shaped by their mineral wealth—and how they can turn oil from a curse into a blessing. Ross traces the oil curse to the upheaval of the 1970s, when oil prices soared and governments across the developing world seized control of their countries' oil industries. Before nationalization, the oil-rich countries looked much like the rest of the world; today, they are 50 percent more likely to be ruled by autocrats—and twice as likely to descend into civil war—than countries without oil. The Oil Curse shows why oil wealth typically creates less economic growth than it should; why it produces jobs for men but not women; and why it creates more problems in poor states than in rich ones. It also warns that the global thirst for petroleum is causing companies to drill in increasingly poor nations, which could further spread the oil curse. This landmark book explains why good geology often leads to bad governance, and how this can be changed.