Gasoline Price Spikes And Regional Gasoline Content Regulation

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Gasoline Price Spikes and Regional Gasoline Content Regulation

Author : Erich Muehlegger
Publisher :
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.:/5 (68 download)

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Book Synopsis Gasoline Price Spikes and Regional Gasoline Content Regulation by : Erich Muehlegger

Download or read book Gasoline Price Spikes and Regional Gasoline Content Regulation written by Erich Muehlegger and published by . This book was released on 2006 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the degree to which gasoline price spikes in California, Illinois and Wisconsin over 1995 to 2001 can be explained by regulatory differentiation - gasoline sold in California, Illinois and Wisconsin is chemically different than gasoline sold in other locations as a result of local regulation supplementary to the Clean Air Act Amendments of 1990. I specify a structural model based on the production optimization problem of refiners and estimate wholesale prices for jet fuel, diesel and four blends of gasoline in each geographic market. I then simulate a counterfactual in which gasoline in the three states meets federal requirements. Comparing the results from the counterfactual to the initial model, allows me to distinguish the degree to which prices spikes in these markets are the result of regulatory differentiation, rather than geographic heterogeneity. I estimate that 72, 92 and 91 percent of price spikes created by refinery fires in California, Illinois and Wisconsin could be mitigated by compatibility with federal RFG standards. Moreover, I also quantify the effect of two other factors thought to increase gasoline prices, (i) changes in refinery ownership and (ii) limited expansion of domestic refining capacity.

Essays on Gasoline Price Spikes, Environmental Regulation of Gasoline Content, and Incentives for Refinery Operation

Author : Erich Johann Muehlegger
Publisher :
ISBN 13 :
Total Pages : 153 pages
Book Rating : 4.:/5 (616 download)

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Book Synopsis Essays on Gasoline Price Spikes, Environmental Regulation of Gasoline Content, and Incentives for Refinery Operation by : Erich Johann Muehlegger

Download or read book Essays on Gasoline Price Spikes, Environmental Regulation of Gasoline Content, and Incentives for Refinery Operation written by Erich Johann Muehlegger and published by . This book was released on 2005 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 1999, regional retail and wholesale gasoline markets in the United States have experienced significant price volatility, both intertemporally and across geographic markets. In particular, gasoline prices in California, Illinois and Wisconsin have spiked occasionally well above gasoline prices in nearby states. The three chapters of my thesis study the relationship between gasoline price spikes, environmental regulation of gasoline content, unanticipated refinery outages and other recent structural changes in the domestic oil market. In the first chapter, I detail current regulations related to gasoline content. Implemented regionally to address local mobile-source emissions, gasoline content regulations increase costs to refiners, transporters and distributors of gasoline, as well as reduce the fungibility of gasoline across different regions. Chapter one provides a summary of the regulations and a qualitative description the costs the regulations impose on refiners, transporters and distributors of gasoline. In chapter two, I estimate two distinct effects of gasoline content regulations in California, Illinois and Wisconsin: (i) the effect of increased production costs due to supplementary regulation, and (ii) the effect of incompatibility between these blends and gasoline meeting federal reformulated gasoline standards. Using a structural model based on the production optimization problem of refiners, I simulate wholesale prices for jet fuel, diesel and four blends of gasoline in each geographic market. I then specify a counterfactual in which gasoline in the three states met federal requirements.

Gasoline Price Spikes and Regional Gasoline Context Regulations

Author : Erich J. Muehlegger
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (587 download)

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Book Synopsis Gasoline Price Spikes and Regional Gasoline Context Regulations by : Erich J. Muehlegger

Download or read book Gasoline Price Spikes and Regional Gasoline Context Regulations written by Erich J. Muehlegger and published by . This book was released on 2004 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: (cont.) The effect of incompatibility with federal RFG criteria, conditional on an in-state refinery outage, is 4.8, 6.6 and 7.1 cents per gallon in California, Illinois and Wisconsin. Controlling for the magnitude of local outages in these areas, I estimate that 72, 92 and 91 percent of price spikes created by local refinery outages could be mitigated by compatibility with federal RFG standards. I find that changes in refinery ownership in the late 19902s increase prices by 1.4 to 1.5 cpg in Illinois and Wisconsin and by 0.73 cents per gallon in California. A five-percent increase in domestic refining capacity reduces prices 3.7 to 3.8 cents per gallon in Illinois and Wisconsin and 4.3 cents per gallon in California.

The Role of Content Regulation on Pricing and Market Power in Regional Retail and Wholesale Gasoline Markets

Author : Erich J. Muehlegger
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (523 download)

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Book Synopsis The Role of Content Regulation on Pricing and Market Power in Regional Retail and Wholesale Gasoline Markets by : Erich J. Muehlegger

Download or read book The Role of Content Regulation on Pricing and Market Power in Regional Retail and Wholesale Gasoline Markets written by Erich J. Muehlegger and published by . This book was released on 2002 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 1999, regional retail and wholesale gasoline markets in the United States have experienced significant price volatility, both intertemporally and across geographic markets. This paper focuses on one potential explanation for regional variations in price levels and volatility, gasoline content regulation. Implemented regionally to address local mobile-source emissions, gasoline content regulations increase cost to refiners, transporters and distributors of gasoline, in addition to reducing the fungibility of gasoline across different regions. This paper first provides a summary of the regional gasoline content regulations and a primer on the refining industry. In addition, this paper specifies the costs regional content regulation imposes on refiners, transporters and distributors of gasoline and the role increasing heterogeneity of gasoline may play in regional price volatility. Finally, this paper surveys the previous literature looking at the effect of gasoline content regulation on prices and price volatility and suggests directions for future research.

The Distributional Implications of the Impact of Fuel Price Increases on Inflation

Author : Mr. Kangni R Kpodar
Publisher : International Monetary Fund
ISBN 13 : 1616356154
Total Pages : 34 pages
Book Rating : 4.6/5 (163 download)

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Book Synopsis The Distributional Implications of the Impact of Fuel Price Increases on Inflation by : Mr. Kangni R Kpodar

Download or read book The Distributional Implications of the Impact of Fuel Price Increases on Inflation written by Mr. Kangni R Kpodar and published by International Monetary Fund. This book was released on 2021-11-12 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Motor Vehicle Fuel Price Increases

Author :
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Motor Vehicle Fuel Price Increases by :

Download or read book Motor Vehicle Fuel Price Increases written by and published by . This book was released on 1997 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Market Effects of Regulatory Heterogeneity

Author : Erich Muehlegger
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (7 download)

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Book Synopsis Market Effects of Regulatory Heterogeneity by : Erich Muehlegger

Download or read book Market Effects of Regulatory Heterogeneity written by Erich Muehlegger and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Reformulating Competition?

Author : Jennifer L. Brown
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Reformulating Competition? by : Jennifer L. Brown

Download or read book Reformulating Competition? written by Jennifer L. Brown and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1990 Clean Air Act Amendments stipulated gasoline content requirements for metropolitan areas with air pollution levels above predetermined federal thresholds. The legislation led to exogenous changes in the type of gasoline required for sale across U.S. metropolitan areas. This paper uses a panel of detailed wholesale gasoline price data to estimate the effect of gasoline content regulation on wholesale prices and price volatility. In addition, we investigate the extent to which the estimated price effects are driven by changes in the number of suppliers versus geographic segmentation resulting from regulation. We find that prices in regulated metropolitan areas increase significantly, relative to a control group, by an average of 3.6 cents per gallon. The price effect, however, varies by ten cents per gallon across regulated markets and the heterogeneity across markets is correlated with the degree of geographic isolation generated by the discontinuous regulatory requirements.

Renewable Fuel Standard

Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309187516
Total Pages : 416 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Renewable Fuel Standard by : National Research Council

Download or read book Renewable Fuel Standard written by National Research Council and published by National Academies Press. This book was released on 2012-01-29 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the United States, we have come to depend on plentiful and inexpensive energy to support our economy and lifestyles. In recent years, many questions have been raised regarding the sustainability of our current pattern of high consumption of nonrenewable energy and its environmental consequences. Further, because the United States imports about 55 percent of the nation's consumption of crude oil, there are additional concerns about the security of supply. Hence, efforts are being made to find alternatives to our current pathway, including greater energy efficiency and use of energy sources that could lower greenhouse gas (GHG) emissions such as nuclear and renewable sources, including solar, wind, geothermal, and biofuels. The United States has a long history with biofuels and the nation is on a course charted to achieve a substantial increase in biofuels. Renewable Fuel Standard evaluates the economic and environmental consequences of increasing biofuels production as a result of Renewable Fuels Standard, as amended by EISA (RFS2). The report describes biofuels produced in 2010 and those projected to be produced and consumed by 2022, reviews model projections and other estimates of the relative impact on the prices of land, and discusses the potential environmental harm and benefits of biofuels production and the barriers to achieving the RFS2 consumption mandate. Policy makers, investors, leaders in the transportation sector, and others with concerns for the environment, economy, and energy security can rely on the recommendations provided in this report.

The World According to China

Author : Elizabeth C. Economy
Publisher : John Wiley & Sons
ISBN 13 : 1509537511
Total Pages : 304 pages
Book Rating : 4.5/5 (95 download)

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Book Synopsis The World According to China by : Elizabeth C. Economy

Download or read book The World According to China written by Elizabeth C. Economy and published by John Wiley & Sons. This book was released on 2021-10-25 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: An economic and military superpower with 20 percent of the world’s population, China has the wherewithal to transform the international system. Xi Jinping’s bold calls for China to “lead in the reform of the global governance system” suggest that he has just such an ambition. But how does he plan to realize it? And what does it mean for the rest of the world? In this compelling book, Elizabeth Economy reveals China’s ambitious new strategy to reclaim the country’s past glory and reshape the geostrategic landscape in dramatic new ways. Xi’s vision is one of Chinese centrality on the global stage, in which the mainland has realized its sovereignty claims over Hong Kong, Taiwan, and the South China Sea, deepened its global political, economic, and security reach through its grand-scale Belt and Road Initiative, and used its leadership in the United Nations and other institutions to align international norms and values, particularly around human rights, with those of China. It is a world radically different from that of today. The international community needs to understand and respond to the great risks, as well as the potential opportunities, of a world rebuilt by China.

Recent Increases in Gasoline Prices

Author : United States. Congress. Senate. Committee on Energy and Natural Resources
Publisher :
ISBN 13 :
Total Pages : 112 pages
Book Rating : 4.3/5 (121 download)

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Book Synopsis Recent Increases in Gasoline Prices by : United States. Congress. Senate. Committee on Energy and Natural Resources

Download or read book Recent Increases in Gasoline Prices written by United States. Congress. Senate. Committee on Energy and Natural Resources and published by . This book was released on 1996 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Cost, Effectiveness, and Deployment of Fuel Economy Technologies for Light-Duty Vehicles

Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309373913
Total Pages : 812 pages
Book Rating : 4.3/5 (93 download)

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Book Synopsis Cost, Effectiveness, and Deployment of Fuel Economy Technologies for Light-Duty Vehicles by : National Research Council

Download or read book Cost, Effectiveness, and Deployment of Fuel Economy Technologies for Light-Duty Vehicles written by National Research Council and published by National Academies Press. This book was released on 2015-09-28 with total page 812 pages. Available in PDF, EPUB and Kindle. Book excerpt: The light-duty vehicle fleet is expected to undergo substantial technological changes over the next several decades. New powertrain designs, alternative fuels, advanced materials and significant changes to the vehicle body are being driven by increasingly stringent fuel economy and greenhouse gas emission standards. By the end of the next decade, cars and light-duty trucks will be more fuel efficient, weigh less, emit less air pollutants, have more safety features, and will be more expensive to purchase relative to current vehicles. Though the gasoline-powered spark ignition engine will continue to be the dominant powertrain configuration even through 2030, such vehicles will be equipped with advanced technologies, materials, electronics and controls, and aerodynamics. And by 2030, the deployment of alternative methods to propel and fuel vehicles and alternative modes of transportation, including autonomous vehicles, will be well underway. What are these new technologies - how will they work, and will some technologies be more effective than others? Written to inform The United States Department of Transportation's National Highway Traffic Safety Administration (NHTSA) and Environmental Protection Agency (EPA) Corporate Average Fuel Economy (CAFE) and greenhouse gas (GHG) emission standards, this new report from the National Research Council is a technical evaluation of costs, benefits, and implementation issues of fuel reduction technologies for next-generation light-duty vehicles. Cost, Effectiveness, and Deployment of Fuel Economy Technologies for Light-Duty Vehicles estimates the cost, potential efficiency improvements, and barriers to commercial deployment of technologies that might be employed from 2020 to 2030. This report describes these promising technologies and makes recommendations for their inclusion on the list of technologies applicable for the 2017-2025 CAFE standards.

Petroleum Supply Annual

Author :
Publisher :
ISBN 13 :
Total Pages : 628 pages
Book Rating : 4.3/5 (243 download)

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Book Synopsis Petroleum Supply Annual by :

Download or read book Petroleum Supply Annual written by and published by . This book was released on 1982 with total page 628 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Oversight of the Enforcement of the Antitrust Laws

Author : United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust, Competition Policy, and Consumer Rights
Publisher :
ISBN 13 :
Total Pages : 184 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Oversight of the Enforcement of the Antitrust Laws by : United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust, Competition Policy, and Consumer Rights

Download or read book Oversight of the Enforcement of the Antitrust Laws written by United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust, Competition Policy, and Consumer Rights and published by . This book was released on 2007 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Greenhouse Gas Protocol

Author :
Publisher : World Business Pub.
ISBN 13 : 9781569735688
Total Pages : 0 pages
Book Rating : 4.7/5 (356 download)

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Book Synopsis The Greenhouse Gas Protocol by :

Download or read book The Greenhouse Gas Protocol written by and published by World Business Pub.. This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The GHG Protocol Corporate Accounting and Reporting Standard helps companies and other organizations to identify, calculate, and report GHG emissions. It is designed to set the standard for accurate, complete, consistent, relevant and transparent accounting and reporting of GHG emissions.

International Energy Outlook

Author :
Publisher :
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.3/5 (129 download)

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Book Synopsis International Energy Outlook by :

Download or read book International Energy Outlook written by and published by . This book was released on 1986 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Technologies and Approaches to Reducing the Fuel Consumption of Medium- and Heavy-Duty Vehicles

Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309159474
Total Pages : 251 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Technologies and Approaches to Reducing the Fuel Consumption of Medium- and Heavy-Duty Vehicles by : National Research Council

Download or read book Technologies and Approaches to Reducing the Fuel Consumption of Medium- and Heavy-Duty Vehicles written by National Research Council and published by National Academies Press. This book was released on 2010-07-30 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: Technologies and Approaches to Reducing the Fuel Consumption of Medium- and Heavy-Duty Vehicles evaluates various technologies and methods that could improve the fuel economy of medium- and heavy-duty vehicles, such as tractor-trailers, transit buses, and work trucks. The book also recommends approaches that federal agencies could use to regulate these vehicles' fuel consumption. Currently there are no fuel consumption standards for such vehicles, which account for about 26 percent of the transportation fuel used in the U.S. The miles-per-gallon measure used to regulate the fuel economy of passenger cars. is not appropriate for medium- and heavy-duty vehicles, which are designed above all to carry loads efficiently. Instead, any regulation of medium- and heavy-duty vehicles should use a metric that reflects the efficiency with which a vehicle moves goods or passengers, such as gallons per ton-mile, a unit that reflects the amount of fuel a vehicle would use to carry a ton of goods one mile. This is called load-specific fuel consumption (LSFC). The book estimates the improvements that various technologies could achieve over the next decade in seven vehicle types. For example, using advanced diesel engines in tractor-trailers could lower their fuel consumption by up to 20 percent by 2020, and improved aerodynamics could yield an 11 percent reduction. Hybrid powertrains could lower the fuel consumption of vehicles that stop frequently, such as garbage trucks and transit buses, by as much 35 percent in the same time frame.