Oil and energy markets have experienced dramatic changes over the past two decades-steep price increases in the 1970s and 1980s followed by a decrease in 1986 and large declines in demand in the former Soviet Union and Eastern Europe. But despite considerable uncertainty about future...

This paper estimates the effects on energy and oil demand of changes in income and oil prices, for 96 of the world's largest countries, in per-capita terms. We examine three important issues: the asymmetric effects on demand of increases and decreases in oil prices; the asymmetric effects on...

We examine a consensus in most recent long-term projections of the world oil market that OPEC oil capacity and production will increase rapidly over the next two decades to unprecedented levels, more than doubling in the Persian Gulf by 2020. Such projections are not based on behavioral analysis...