Will Natural Gas Prices Decouple From Oil Prices Across The Pond

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Will Natural Gas Prices Decouple from Oil Prices Across the Pond?

Author : Reinout De Bock
Publisher :
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Will Natural Gas Prices Decouple from Oil Prices Across the Pond? by : Reinout De Bock

Download or read book Will Natural Gas Prices Decouple from Oil Prices Across the Pond? written by Reinout De Bock and published by . This book was released on 2015 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: We show that US natural gas prices have decoupled from oil prices following substantial institutional and technological changes. We then examine how this interrelationship has evolved in Europe using data for Algeria, one of Europe's key gas suppliers. Taking into account total gas exports and cyclical conditions in partner countries, we find that gas prices remain linked to oil prices, though the nexus has loosened. Both high oil prices and a modest industrial recovery in partner countries have kept gas exports at low levels in recent years, suggesting changing market forces. The paper then shows how such shifts can have important macroeconomic implications for a big gas exporter such as Algeria.

Will Natural Gas Prices Decouple From Oil Prices Across the Pond?

Author : Mr.Reinout De Bock
Publisher : International Monetary Fund
ISBN 13 : 1455266442
Total Pages : 23 pages
Book Rating : 4.4/5 (552 download)

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Book Synopsis Will Natural Gas Prices Decouple From Oil Prices Across the Pond? by : Mr.Reinout De Bock

Download or read book Will Natural Gas Prices Decouple From Oil Prices Across the Pond? written by Mr.Reinout De Bock and published by International Monetary Fund. This book was released on 2011-06-01 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: We show that US natural gas prices have decoupled from oil prices following substantial institutional and technological changes. We then examine how this interrelationship has evolved in Europe using data for Algeria, one of Europe’s key gas suppliers. Taking into account total gas exports and cyclical conditions in partner countries, we find that gas prices remain linked to oil prices, though the nexus has loosened. Both high oil prices and a modest industrial recovery in partner countries have kept gas exports at low levels in recent years, suggesting changing market forces. The paper then shows how such shifts can have important macroeconomic implications for a big gas exporter such as Algeria.

Have European Natural Gas Prices Decoupled from Crude Oil Prices?

Author : Michał Rubaszek
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (135 download)

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Book Synopsis Have European Natural Gas Prices Decoupled from Crude Oil Prices? by : Michał Rubaszek

Download or read book Have European Natural Gas Prices Decoupled from Crude Oil Prices? written by Michał Rubaszek and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Modeling UK Natural Gas Prices When Gas Prices Periodically Decouple from the Oil Price

Author : Frank Asche
Publisher :
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Modeling UK Natural Gas Prices When Gas Prices Periodically Decouple from the Oil Price by : Frank Asche

Download or read book Modeling UK Natural Gas Prices When Gas Prices Periodically Decouple from the Oil Price written by Frank Asche and published by . This book was released on 2015 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: When natural gas prices are subject to periodic decoupling from oil prices, for instance due to peak-load pricing, conventional linear models of price dynamics such as the Vector Error Correction Model (VECM) can lead to erroneous inferences about cointegration relationships, price adjustments and relative values. We propose the use of regime-switching models to address these issues. Our regime switching model uses price data to infer whether pricing is oil-driven (integrated) or gas-specific (decoupled). We find that UK natural gas (ICE) and oil (Brent) are cointegrated for the majority of the sample considered (1997-2014). Gas prices tend to decouple during fall and early winter, when they increase relative to oil consistent with heating demand for natural gas creating gas-specific pricing. Using the model to infer relative values when evidence favors integrated markets, we find that the industry 10-1 rule-of-thumb holds, meaning that the value of one barrel of oil is 10 times the value of one MMbtu of natural gas.

Convergence and Divergence of Crude Oil and Natural Gas Prices

Author : George M. Romagus
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (954 download)

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Book Synopsis Convergence and Divergence of Crude Oil and Natural Gas Prices by : George M. Romagus

Download or read book Convergence and Divergence of Crude Oil and Natural Gas Prices written by George M. Romagus and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This research investigates the possibility that WTI crude oil and Henry Hub natural gas prices share a stable link. Economic theory suggests that the two commodities are linked by both supply and demand given that the commodities can be coproduced and many consumers have the ability to switch between the fuels. In general, it would appear that the two commodities support this theory with natural gas prices tracking crude oil prices fairly well until late 2008. However, since the end of 2008 the two price series have diverged and appear to move independently of each other. Reduced fuel switching capabilities in U.S. industry and electric power generation coupled with increased technology and production from shale formations have potentially changed the driving force behind natural gas prices. However, a severe recession has impacted world economies over the same time period making the cause of the disparity between crude oil and natural gas prices unclear. Therefore, this research analyzed the possible long-term link between the two commodities over two timeframes. Using an error correction model that includes exogenous factors affecting the short-run dynamics of natural gas prices over the period January 1999 through September 2008, I find evidence of a long-run cointegrating relationship between natural gas and crude oil prices. Additionally, crude oil prices are found to be weakly exogenous to the system, suggesting causality runs from crude oil to natural gas prices. Extending this series through February 2012 yields much weaker evidence of a cointegrating relationship and provides evidence for the decoupling crude oil and natural gas prices.

The Switching Relationship Between Natural Gas and Crude Oil Prices

Author : Matthew Brigida
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis The Switching Relationship Between Natural Gas and Crude Oil Prices by : Matthew Brigida

Download or read book The Switching Relationship Between Natural Gas and Crude Oil Prices written by Matthew Brigida and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Herein we more accurately capture the cointegrating relationship between natural gas and crude oil prices by controlling for nonstationarity induced by endogenous changes in regime. Specifically, we allow the cointegrating equation to switch between m states, according to a first-order Markov process. First, we find evidence that regime-switching exists in the relative pricing relationship, and that two is the optimal number of states. Once we control for this type of nonstationarity natural gas and crude oil prices are cointegrated, and in an error correction model the state-weighted residuals contain unique information and allow for faster recovery toward equilibrium in response to exogenous shocks. Further, our analysis finds evidence that natural gas and crude oil prices did not permanently 'decouple' in the early 2000s, but rather experienced a temporary shift in regimes. We find that forecasts of the relative pricing of natural gas and crude oil should be conditioned on state probability.

Network Industries and Social Welfare

Author : Massimo Florio
Publisher : OUP Oxford
ISBN 13 : 019166250X
Total Pages : 431 pages
Book Rating : 4.1/5 (916 download)

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Book Synopsis Network Industries and Social Welfare by : Massimo Florio

Download or read book Network Industries and Social Welfare written by Massimo Florio and published by OUP Oxford. This book was released on 2013-06-20 with total page 431 pages. Available in PDF, EPUB and Kindle. Book excerpt: A dramatic change of ownership, regulation, and organisation of essential public services, such as electricity, gas, and telecommunications, has taken place in Europe in less than 20 years. This was not the outcome of spontaneous adaptation, but an entirely top-down policy experiment, mainly conceived in London during Mrs Thatcher's years, then pursued in Brussels - the 'capital' of the European Union - and imposed on more or less reluctant players by laws, directives, regulations, and administrative and judicial decisions. The European reform paradigm revolves around three pillars: privatisation, unbundling, and regulated liberalisation of network industries. These industries, despite the reforms, are still special, as they include core natural monopoly components (the electricity grid, the gas pipelines, the telephony networks, etc.), are often based on complex system integration of different segments (for example of electricity generation, transmission, distribution and retail supply), and offer services that have critical social and economic importance, from heating to internet. This book offers a careful scrutiny of energy and telephony reforms and prices paid by households in 15 countries across Western Europe. It attempts to answer such questions as: Are the consumers in Europe happier than they were before the reforms? Do they pay less? Do they get a better quality for the services? Network Industries and Social Welfare provides an overview of the main facts, the conceptual issues, and of the empirical evidence on pricing, perceptions of quality of service, and the issues of utility poverty and social affordability. It suggests that the benefits of the reforms for the consumers have often been limited and that governments should reconsider their overconfidence in regulated market mechanisms in network industries.

IMF Research Bulletin, September 2011

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
ISBN 13 : 1463904908
Total Pages : 12 pages
Book Rating : 4.4/5 (639 download)

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Book Synopsis IMF Research Bulletin, September 2011 by : International Monetary Fund. Research Dept.

Download or read book IMF Research Bulletin, September 2011 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2011-09-01 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: The September 2011 issue of the IMF's quarterly "Research Bulletin" features a Q&A discussion about economic recovery in countries emerging after war or other open. The research summaries in this issue include: "Revisiting Capital Controls"; and "Capital Flows and Financial Stability: Monetary Policy and Macroprudential Responses." The September issue also provides details on IMF visiting scholars (mainly during the September - December 2011 period), as well as recent Working Papers and Staff Discussion Notes published by the IMF.

Regional Economic Outlook, October 2011, Middle East and Central Asia

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
ISBN 13 : 1616351292
Total Pages : 118 pages
Book Rating : 4.6/5 (163 download)

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Book Synopsis Regional Economic Outlook, October 2011, Middle East and Central Asia by : International Monetary Fund. Middle East and Central Asia Dept.

Download or read book Regional Economic Outlook, October 2011, Middle East and Central Asia written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2011-10-26 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Arab Spring holds the promise of improved living standards and a more prosperous future for the peoples of the Middle East and North Africa region. At the same time, the region is witnessing uncertainty and economic pressures from domestic and external sources, which will likely be exacerbated by the recent worsening of the global economy. The main challenge in the short term will be to manage expectations while maintaining economic stability. To that end, better-targeted subsidies and transfers will help free up resources for investment in infrastructure, education, and health. Policies aimed at fostering inclusive growth will also help cement the longer-term benefits of the ongoing changes in the region. In the Caucasus and Central Asia, the economic outlook is broadly positive. Exports and remittances--key growth drivers in 2010--are continuing to grow solidly, helping the recovery gain firm momentum. At the same time, uncertainties over the robustness of the global recovery constitute a downside risk to the growth outlook. Key challenges facing the region over the medium term are to create jobs and foster high and inclusive growth.

The Handbook of Global Energy Policy

Author : Andreas Goldthau
Publisher : John Wiley & Sons
ISBN 13 : 1119250692
Total Pages : 578 pages
Book Rating : 4.1/5 (192 download)

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Book Synopsis The Handbook of Global Energy Policy by : Andreas Goldthau

Download or read book The Handbook of Global Energy Policy written by Andreas Goldthau and published by John Wiley & Sons. This book was released on 2016-11-14 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first handbook to provide a global policy perspective on energy, bringing together a diverse range of international energy issues in one volume. Maps the emerging field of global energy policy both for scholars and practitioners; the focus is on global issues, but it also explores the regional impact of international energy policies Accounts for the multi-faceted nature of global energy policy challenges and broadens discussions of these beyond the prevalent debates about oil supply Analyzes global energy policy challenges across the dimensions of markets, development, sustainability, and security, and identifies key global policy challenges for the future Comprises newly-commissioned research by an international team of scholars and energy policy practitioners

Brittle Power

Author : Amory B. Lovins
Publisher :
ISBN 13 :
Total Pages : 520 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Brittle Power by : Amory B. Lovins

Download or read book Brittle Power written by Amory B. Lovins and published by . This book was released on 1982 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Energy Fact Book

Author :
Publisher :
ISBN 13 :
Total Pages : 364 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Energy Fact Book by :

Download or read book Energy Fact Book written by and published by . This book was released on 1976 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Bulletin of the Atomic Scientists

Author :
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4./5 ( download)

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Book Synopsis Bulletin of the Atomic Scientists by :

Download or read book Bulletin of the Atomic Scientists written by and published by . This book was released on 1971-09 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Bulletin of the Atomic Scientists is the premier public resource on scientific and technological developments that impact global security. Founded by Manhattan Project Scientists, the Bulletin's iconic "Doomsday Clock" stimulates solutions for a safer world.

Renewable Energy Sources and Climate Change Mitigation

Author : Ottmar Edenhofer
Publisher : Cambridge University Press
ISBN 13 : 9781107607101
Total Pages : 1088 pages
Book Rating : 4.6/5 (71 download)

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Book Synopsis Renewable Energy Sources and Climate Change Mitigation by : Ottmar Edenhofer

Download or read book Renewable Energy Sources and Climate Change Mitigation written by Ottmar Edenhofer and published by Cambridge University Press. This book was released on 2011-11-21 with total page 1088 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Intergovernmental Panel on Climate Change Special Report (IPCC-SRREN) assesses the potential role of renewable energy in the mitigation of climate change. It covers the six most important renewable energy sources - bioenergy, solar, geothermal, hydropower, ocean and wind energy - as well as their integration into present and future energy systems. It considers the environmental and social consequences associated with the deployment of these technologies, and presents strategies to overcome technical as well as non-technical obstacles to their application and diffusion. SRREN brings a broad spectrum of technology-specific experts together with scientists studying energy systems as a whole. Prepared following strict IPCC procedures, it presents an impartial assessment of the current state of knowledge: it is policy relevant but not policy prescriptive. SRREN is an invaluable assessment of the potential role of renewable energy for the mitigation of climate change for policymakers, the private sector, and academic researchers.

Commodities, Governance and Economic Development Under Globalization

Author : Machiko Nissanke
Publisher : Palgrave MacMillan
ISBN 13 :
Total Pages : 416 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Commodities, Governance and Economic Development Under Globalization by : Machiko Nissanke

Download or read book Commodities, Governance and Economic Development Under Globalization written by Machiko Nissanke and published by Palgrave MacMillan. This book was released on 2010-01-20 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines commodities, governance and economic development under globalization.

Carbon Dioxide as Chemical Feedstock

Author : Michele Aresta
Publisher : John Wiley & Sons
ISBN 13 : 9783527629923
Total Pages : 414 pages
Book Rating : 4.6/5 (299 download)

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Book Synopsis Carbon Dioxide as Chemical Feedstock by : Michele Aresta

Download or read book Carbon Dioxide as Chemical Feedstock written by Michele Aresta and published by John Wiley & Sons. This book was released on 2010-01-26 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: Filling the need for an up-to-date handbook, this ready reference closely investigates the use of CO2 for ureas, enzymes, carbamates, and isocyanates, as well as its use as a solvent, in electrochemistry, biomass utilization and much more. Edited by an internationally renowned and experienced researcher, this is a comprehensive source for every synthetic chemist in academia and industry.

The Economics of Commodity Markets

Author : Julien Chevallier
Publisher : John Wiley & Sons
ISBN 13 : 1119945402
Total Pages : 373 pages
Book Rating : 4.1/5 (199 download)

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Book Synopsis The Economics of Commodity Markets by : Julien Chevallier

Download or read book The Economics of Commodity Markets written by Julien Chevallier and published by John Wiley & Sons. This book was released on 2013-06-19 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: As commodity markets have continued their expansion an extensive and complex financial industry has developed to service them. This industry includes hundreds of participating firms, including asset managers, brokers, consultants, verification agencies and a myriad of other institutions. Universities and other training institutions have responded to this rapid expansion of commodity markets as well as their substantial future growth potential by launching specialized courses on the subject. The Economics of Commodity Markets attempts to bridge the gap between academics and working professionals by way of a textbook that is both theoretically informative and practical. Based in part on the authors’ teaching experience of commodity finance at the University Paris Dauphine, the book covers all important commodity markets topics and includes coverage of recent topics such as financial applications and intuitive economic reasoning. The book is composed of three parts that cover: commodity market dynamics, commodities and the business cycle, and commodities and fundamental value. The key original approach to the subject matter lies in a shift away from the descriptive to the econometric analysis of commodity markets. Information on market trends of commodities is presented in the first part, with a strong emphasis on the quantitative treatment of that information in the remaining two parts of the book. Readers are provided with a clear and succinct exposition of up-to-date financial economic and econometric methods as these apply to commodity markets. In addition a number of useful empirical applications are introduced and discussed. This book is a self-contained offering, discussing all key methods and insights without descending into superfluous technicalities. All explanations are structured in an accessible manner, permitting any reader with a basic understanding of mathematics and finance to work their way through all parts of the book without having to resort to external sources.