Every oil producing nation is confronted with a complex and fundamental ethical dilemma. On the one hand, there are moral arguments for the nation to use the petroleum resource for the benefit of society and make it available for countries who do not have this natural resource endowment. On the...

We study the efficacy of releases from the U.S. Strategic Petroleum Reserve (SPR) within the context of fully specified models of the global oil market that explicitly allow for storage demand as well as unanticipated changes in the SPR. Using novel identifying strategies and evaluation methods,...

This paper links between Beckerian literature that shows that marriage is a normal good with respect to male income and the literature that explores cultural changes as a result of exogenous events. I use the oil crisis of the 1970s as a positive shock on some males. The analyzed outcome is...

This study reviews Azerbaijan’s fiscal policy implementation and discusses its changes before, during and after the oil boom. Specifically, the period prior to 2005 is considered pre-boom, 2005-2014 is considered the oil boom and the years after 2014 are considered the post oil boom period. It...

"The Organization of the Petroleum Exporting Countries (OPEC), celebrating its 60th anniversary in 2020, is one of the most recognizable acronyms in international politics. The organization has undergone decades of changing importance, from political irrelevance to the spotlight of world...

If we agree that the oil price is a social institution, embedded in socio-economic and political practices, this means that it is not only the outcome of these practices but also a causal factor. Using the case of Russia, this chapter looks at how oil price changes are perceived and made sense...

Why did OPEC not cut oil production in the wake of 2014's price fall? This study aims at aiding the mostly qualitative discussion with quantitative evidence from computing quarterly partial market equilibria Q4 2011 - Q4 2015 under present short-term profit maximisation and different competition...

We show that OPEC's market power contributes to global warming by enabling producers of relatively expensive and dirty oil to start producing before OPEC reserves are depleted. We fully characterize the equilibrium of a cartel-fringe model and use a calibration to examine the importance of this...

In this study, we report on the current state of the international market for crude oil. The market data we analyzed indicate that competition has intensified as a result of the now firmly-established shale oil extraction industry in the U.S. Model-based simulations also show that supply-side...

We show that OPEC's market power contributes to global warming by enabling producers of relatively expensive and dirty oil to start producing before OPEC reserves are depleted. We fully characterize the equilibrium of a cartel-fringe model and use a calibration to examine the importance of this...

On April 20, 2010, the Macondo well suffered a blowout, causing the mobile offshore drilling unit "Deepwater Horizon" to explode and eventually sink. Oil flowed from the well into the Gulf of Mexico for 87 days. In the aftermath of this event, the US Government proposed significant regulatory...

Background and analytical lens -- The oil sands and its discontents -- Regulating ¿sustainable development' of the oil sands resource -- The regulatory process -- The directing features of policy and strategy -- Issues with the "planning" stage of the regulatory process -- Issues with the...

Cover -- Half Title -- Series Page -- Title Page -- Copyright Page -- Dedication -- Table of Contents -- Acknowledgements -- List of Abbreviations -- PART I Background and Analytical Lens -- 1 The Oil Sands and Their Discontents -- Green Criminology and Environmental Harm -- First Nations,...