The Energy Journal

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Natural gas pricing in countries of the Middle East and North Africa.
1. INTRODUCTION Countries of the Middle East and North Africa (MENA) own 45 percent of the world's gas resources but account for 15 percent of gas production. The latter ratio is projected to incr . . .

OPEC strategies and oil rent in a climate conscious world.
1. INTRODUCTION Analyzing the future of oil in a climate conscious world is a delicate task and a highly contentious issue. From a climate policy point of view, one major challenge is that energy . . .

European carbon prices and banking restrictions: evidence from phase I (2005-2007).
1. INTRODUCTION On the European Union Emissions Trading Scheme (EU ETS) launched in 2005 to help Member States (MS) achieve their Kyoto Protocol's (KP) target to reduce 1990 emissions by 8% during . . .

Modelling and forecasting oil prices: the role of asymmetric cycles.
Using a simple unobserved components model, we show that explicitly modelling asymmetric cycles on crude oil prices improves the forecast ability of univariate time series models of the oil price. . . .

Fuelling growth: what drives energy demand in developing countries?
1. INTRODUCTION The sharp increase in energy demand observed at the beginning of the new millennium was mostly attributed to the rapid growth of China, India and other emerging economies. This was . . .

The market effects of going green: evidence from California's wholesale reformulated gasoline market.
1. INTRODUCTION In 1992, the California Air Resources Board (CARB) implemented Phase II of its reformulated gasoline regulations. These regulations were aimed at reducing emissions from gasoline f . . .

Price convergence in natural gas markets: city-gate and residential prices.
1. INTRODUCTION The current structure of the US natural gas industry has been shaped by the evolution of regulatory policies over the past three decades. Starting out as highly regulated, the indu . . .

Impacts of the German support for renewable energy on electricity prices, emissions, and firms.
1. INTRODUCTION Today, in most industrialized countries, renewable energy is supported by policy schemes to bring this favorable option to the market. When compared with fossil sources, major adva . . .

Issues in designing U.S. climate change policy.
1. INTRODUCTION Around the world, interest is growing in designing and implementing mandatory, domestic, market-based climate change policies. The European Union launched the Emission Trading Sche . . .

Global Electrification: Multinational Enterprise and International Finance in the History of Light and Power, 1878-2007.(Book re
Global Electrification: Multinational Enterprise and International Finance in the History of Light and Power, 1878-2007, by William J. Hausman, Peter Herner and Mira Wilkins. (New York: Cambridg . . .

Preface.(energy industry economic aspects)
It is a great pleasure to introduce this Special Issue of The Energy Journal which focuses on modeling of natural gas markets. The issues that are addressed are complex, the analyses intricate, and . . .

Natural gas across country borders: an introduction and overview.
1. INTRODUCTION Around the globe, natural gas consuming markets are adjusting to limits on their own resources and the need for additional supplies from beyond their borders. These conditions ha . . .

A practitioner's perspective on modeling prices and trade in a globalizing natural gas market.
1. INTRODUCTION In its September 2007 Report 23, Prices and Trade in a Globalizing Natural Gas Market, the Stanford Energy Modeling Forum (EMF) has once again pursued a challenging agenda seeking . . .

Spatial price and quantity relationships in world and continental commodity markets.
1. BACKGROUND Samuelson (1952) introduced a number of insights regarding prices and quantities in spatial commodity networks. Based on welfare maximization, Samuelson (1952) showed that under care . . .

Globalisation of natural gas markets--effects on prices and trade patterns.
1. INTRODUCTION The natural gas markets in different regions are gradually becoming more integrated. This globalisation process is due to several reasons. First, the costs of transport (especially . . .

The impact of high oil prices on global and regional natural gas and LNG markets.(liquefied natural gas)
1. INTRODUCTION Natural gas markets have historically been regional with some linkage with international petroleum markets. However, as natural gas transportation capacity, including pipeline capa . . .

Potential futures for Russian natural gas exports.
1. INTRODUCTION According to the U.S. Energy Information Administration (EIA), Russia is the largest natural gas supplier, with dry gas production in 2006 of 23.2 trillion cubic feet (tcf) represe . . .

Representing GASPEC with the World Gas Model.
1. INTRODUCTION The scenario of a cartel of natural gas producers, sometimes called a "GASPEC", is an important issue in international natural gas trade and has occupied a central role in the Ener . . .

A dynamic simulation of market power in the liberalised European natural gas market.
1. INTRODUCTION In 2005, natural gas consumption in the European Union (EU) states was approximately 530 billion cubic meters per year (bcm/y) (EU, 2004). Presently, this demand is fairly evenly d . . .

Perspectives of the European natural gas markets until 2025.
1. INTRODUCTION: THE EUROPEAN NATURAL GAS MARKET The European natural gas market lends itself particularly to the EMF 23 study design. It is in the middle of a deep structural change that comprise . . .

European natural gas markets: resource constraints and market power.
1. INTRODUCTION Two main factors governing the policy debate on the European natural gas market are the decline of indigenous resources, combined with the growing dependence for a large share of g . . .

Market arbitrage: European and North American natural gas prices.(Industry overview)
1. INTRODUCTION For many years, pipelines were the primary means for moving natural gas, and natural gas prices were, by and large, determined in the prevailing continental markets. The developmen . . .

Linking natural gas markets--is LNG doing its job?(liquefied natural gas)
1. INTRODUCTION Markets for natural gas have witnessed profound changes in the past decade. Liberalization in most parts of the world, restructuring of former vertically integrated supply chains, . . .

Modeling the growth in gas reserves from known fields.
1. INTRODUCTION The extent to which future domestic demand for natural gas is satisfied by imports of LNG is contingent on the adequacy and cost competitiveness of North American supplies. One of . . .

Hicks, Hayek, Hotelling, Hubbert, and Hysteria or Energy, Exhaustion, Environmentalism, and Etatism in the 21st Century.
1. INTRODUCTION Having the rare honor of a second IAEE award, I chose to respond by reacting to the present deplorable state of political discourse on energy by revisiting the issues that I treate . . .

The global natural gas market: will transport cost reductions lead to lower prices?(Industry overview)
1. INTRODUCTION Natural gas has traditionally been traded in regional markets, like the European, the North American, and the Asia-Pacific markets. Most of the international gas trade to and within . . .

Powering progress: restructuring, competition, and R&D in the U.S. electric utility industry.
"Research and development is our nation's investment in its own future. America's science and technology base may well stand as our most important renewable resource. The overarching public goal of . . .

The willingness to pay for renewable energy sources: the case of Italy with socio-demographic determinants.
1. INTRODUCTION Renewable energy sources (RES) are considered to be environmental sound from the viewpoint of dangerous emissions and resource depletion. Traditionally, in the past much of emphasi . . .

Long memory in oil and refined products markets.
1. INTRODUCTION The recent finance and economic literature has recognized the importance of long-range dependence in analyzing time-series data. The recognition of dependence between distant obser . . .

Willingness to pay for improved quality of electricity supply across business type and location.
1. INTRODUCTION The deregulation of electricity markets in many countries has led to the establishment of regulatory authorities to oversee the pricing practices of electricity distributors, as th . . .

Willingness to pay for energy conservation and free-ridership on subsidization: evidence from Germany.
Understanding the determinants of home-efficiency improvements is significant to a range of energy policy issues, including the reduction of fossil fuel use and environmental protection. This paper . . .

The incidence of a U.S. carbon tax: a lifetime and regional analysis.
1. INTRODUCTION Economists have long argued that market based instruments are more efficient than regulations as a means of addressing the social damages arising from polluting activities. By mark . . .

Understanding crude oil prices.
1. INTRODUCTION How would one go about explaining changes in oil prices? This paper explores three broad ways one might approach this. The first is a statistical investigation of the basic correla . . .

The German Path to Natural Gas Liberalisation: Is it a Special Case?(Book review)
The German Path to Natural Gas Liberalisation: Is it a Special Case?, by Heiko LoHmann. (Oxford: Oxford Institute for Energy Studies, 2006) 183 pages, ISBN 978 1 901795 47 9 paperback. I wonde . . .

Oil price shocks and real GDP growth: testing for non-linearity.
1. INTRODUCTION From the middle of twentieth century onwards, crude oil has become one of the main indicators of economic activity worldwide, due to its outstanding importance in the supply of the . . .

It never rains but it pours: modeling the persistence of spikes in electricity prices.
1. INTRODUCTION Electricity retailers generally buy electricity from an electricity grid at a market price, known as the spot price, but sell electricity to customers at a price that is heavily re . . .

An assessment of the inflationary impact of oil shocks in the euro area.
1. INTRODUCTION This paper analyses the pass-through in the euro area of oil price increases into inflation from a structural perspective using a DSGE model calibrated to reflect the euro area eco . . .

Retail gasoline price cycles: evidence from Guelph, Ontario using bi-hourly, station-specific retail price data.
1. INTRODUCTION In several cities in Canada, the United States, Australia, and Norway, it has been documented that retail gasoline prices appear to move in cycles where they rise by large amounts . . .

Oil sands royalties and taxes in Alberta: an assessment of key developments since the mid-1990s.
1. INTRODUCTION Estimates recently released by Alberta's Energy Resources Conservation Board (AERCB 2008, p.2-3) suggest that the province's oil sands deposits contain some 173 billion barrels of . . .

Depletion and the future availability of petroleum resources.
1. INTRODUCTION Petroleum resources are the only major mineral commodities where many experts fear resource depletion will produce significant scarcities over the next several decades. This paper . . .

The Econometrics of Energy Systems.(Book review)
The Econometrics of Energy Systems, edited by JAN HORST KEPPLER, REGIS BOURBONNAIS, and JACQUES GIROD with an introduction by JEAN-MARIE CHEVALIER. (London: Palgrave Macmillan 2007), 266 pages, ISBN . . .

Les Controverses de L'inergie: Fossile, Hydroilectrique, Nucliaire, Renouvelabl.(Book review)
Les Controverses de L'energie: Fossile, Hydroelectrique, Nucleaire, Renouvelable, by FRawco ROMERIO. (Lausanne: Collection Le savoir suisse, Presses polytechniques et universitaires romandes, 2007) . . .

Competitive Electricity Markets: Design, Implementation, Performance.(Book review)
Competitive Electricity Markets: Design, Implementation, Performance, edited by FEREIDOON P SIOSHANSI. (Amsterdam: Elsevier, 2008) 624 pages, ISBN13: 978-0-08-047172-3. It should come as no great . . .

Preface.(Editorial)(Brief article)
[ILLUSTRATION OMITTED] It is indeed a great pleasure and privilege to introduce this Special Issue in honour of David Newbery. Professor Newbery's influential contributions in economics in general . . .

A special issue in honor of Professor David M.G. Newbery.
It is a great pleasure for us to have the privilege of editing this special issue of The Energy Journal in honor of the 65th birthday of David Newbery (which took place on 1st June 2008). We have . . .

Personal reflections on David Newbery.(Department of Applied Economics)
I first met David in the Spring of 1976 at Stanford University. I was finishing my PhD under the guidance of Joseph Stiglitz and David came to Stanford to work with Joe on a NSF project. I remember . . .

Lessons learned from electricity market liberalization.
1. INTRODUCTION It has been almost 25 years since Richard Schmalensee and I published Markets for Power (1983), almost 20 years since the UK began to design its innovative and comprehensive electr . . .

Some applied economics of utility regulation a paper in honor of David Newbery.
1. INTRODUCTION David Newbery has held a Chair of Applied Economics at Cambridge since 1988. Of some 20 Chairs of that name in the UK to date, David's was chronologically the 11th--he is the media . . .

The future of electricity (and gas) regulation in a low-carbon policy world.
1. INTRODUCTION It is a great pleasure to be contributing to a special issue in honor of David Newbery. David and I have worked closely together for all of my career at Cambridge and my debt to hi . . .

Electricity wholesale markets: designs now and in a low-carbon future.
1. INTRODUCTION It is a great pleasure to be able to contribute to this Special Issue of the Energy Journal in honor of David Newbery. I spent the first ten years of my career working with him on . . .