New IMF Working Paper Models Impact of Oil Limits on the Economy
The International Monetary Fund (IMF) recently issued a new working paper called “The Future of Oil: Geology versus Technology” (free PDF), which should be of interest to people who are following “peak oil” issues. This is a res...
The Oil Curse: How Petroleum Wealth Shapes the Development of Nations
Michael Ross talks to Viv Davies about his recent book ‘The Oil Curse: How Petroleum Wealth Shapes the Development of Nations’. They discuss the irony of how those countries with the greatest social and economic deficits are also the most vulnerabl...
World Energy Consumption since 1820 in Charts
Figure 1 shows the huge increase in world energy consumption that has taken place in roughly the last 200 years. This rise in energy consumption is primarily from increased fossil fuel use.
Figure 1. World Energy Consumption by Source, Based on Vaclav...
World Energy Consumption Since 1820 in Charts
Figure 1 shows the huge increase in world energy consumption that has taken place in roughly the last 200 years. This rise in energy consumption is primarily from increased fossil fuel use.
Figure 1. World Energy Consumption by Source, Based on Vaclav...
Has the Global Economy Become Less Vulnerable to Oil Price Shocks?
This is a guest post by Dr. Mingqi Li, an associate professor of economics at the University of Utah.
Abstract
This paper examines the impact of oil price changes on global economic growth. Unlike some recent studies, this paper finds that oil price...
Why High Oil Prices Are Now Affecting Europe More Than the US
The world is presently sharing a limited supply of oil. When oil prices rise, oil production doesn’t rise very much, if at all.
Figure 1. Brent oil spot price and world oil supply (broadly defined), based on EIA data.
The issues then become: Whi...
Why High Oil Prices Are Now Affecting Europe More Than the US
The world is presently sharing a limited supply of oil. When oil prices rise, oil production doesn’t rise very much, if at all.
Figure 1. Brent oil spot price and world oil supply (broadly defined), based on EIA data.
The issues then become: Whi...
Why High Oil Prices Are Now Affecting Europe More Than the US
The world is presently sharing a limited supply of oil. When oil prices rise, oil production doesn’t rise very much, if at all.
Figure 1. Brent oil spot price and world oil supply (broadly defined), based on EIA data.
The issues then become: Whi...
Naked Oil
This is a guest post by Chris Cook, former compliance and market supervision director of the International Petroleum Exchange.
All is not as it appears in the global oil markets, which have become entirely dysfunctional and no longer fit for its purpo...
Pipeline changes to fix WTI /Brent spread are likely to add new problems
For many years, Brent oil (a European grade) and West Texas Intermediate (WTI) oil, a US grade, sold at close to the same price. Starting in January 2011, WTI price dropped below Brent, at times by more than 20%.
When the price of WTI dropped, the pric...
Countdown to $100 Oil – High Energy Prices Suppressing Growth?
This is the fifth post in the series following the oil price, markets and general health of the global economy, examining the simple theory that OECD recession may result from annual average oil price exceeding $100 / bbl.
The annual average price (AAP...
Is It Really Possible to Decouple GDP Growth from Energy Growth?
In recent years, we have heard statements indicating that it is possible to decouple GDP growth from energy growth. I have been looking at the relationship between world GDP and world energy use and am becoming increasingly skeptical that such a decoup...
