Dan Dicker Oil's Endless Bid. Taming the Unreliable Price of Oil to Secure Our Economy

Dan Dicker Oil's Endless Bid. Taming the Unreliable Price of Oil to Secure Our Economy

Expert analysis of rising oil prices and the out-of-control oil markets that jeopardize both national security and the economy The price of oil is negatively impacting both companies and consumers. In Oil's Endless Bid: Taming the Unreliable Price of Energy to Secure Our Economy, energy analyst Dan Dicker recalls his experiences as an oil trader and reveals the changes that have taken place in the oil markets during the past twenty years, and particularly the last five, as investment banks, energy hedge funds, and managed futures funds have come to dominate energy trading and wreak havoc on prices. Reveals why oil prices cannot stabilize without dramatic action on the part of both government and business Details how the novel, but wrong, idea of oil as an asset class took a sleepy, club-like market into the national spotlight Describes how the United States is unnecessarily handing its wealth over to foreign oil producers during a time when the potential supply of oil is greater than ever Written by an industry insider, Oil's Endless Bid analyzes the biggest financial story of the last ten years?how we lost control of our oil markets.

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Oil Price Hike and the Nigerian Economy

Oil Price Hike and the Nigerian Economy

The study sought to determine the effect of oil price hike on the prices of products from the non-oil sectors in the Nigerian economy. Input-output analysis was used to show the interdependence between the various sectors of the Nigerian economy as well as the price changes in the different sectors occasioned by oil price changes. The population consisted of all the thirty-two (32) industrial sectors of the Nigerian economy. Z test for population proportions was used to test for significance of the price changes while Chi-Square was used to test for independence between price changes in the non-oil sectors of the Nigerian economy and the oil sector. Research findings indicated that increases in the prices of petroleum products have direct significant impact on transport fares and indirect significant impact on prices of products from the non-oil sectors. The need for policy makers to invest in the provision of adequate infrastructural facilities as well as guarantee enhanced earnings for the generality of Nigerian workers were suggested, among others; to ensure that oil earnings , as obtained in major oil exporting countries, translate to economic development in the true sense.

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The impact of oil price on stock returns in oil exporting countries

The impact of oil price on stock returns in oil exporting countries

The purpose of our paper is to examine the relationship and interactions between oil price movements and stock markets in main two oil exporting countries - Russia and Norway and test how and to what extent oil prices together with other variables influence stock markets. Some macroeconomic explanatory variables that are directly linked to stock market performance are included to our model, too. The notion of comparative analysis of oil price changes and stock market performance between a developing country- Russia and a developed country- Norway is also one of the major empirical aspects of our master thesis. First, we run simple OLS regression to understand the effect of oil prices on stock returns. In order to examine deeply the interaction and impact among different variables, we employ a VAR model. Results reveal a diverse pattern in all share and industrial level in two markets. Finally, for further analysis, we run asymmetric tests using dummy variables to show the difference between oil price increases and the normal case.

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Oil

Oil

Oil pulses through our daily lives. It is the plastic we touch, the food we eat, and the way we move. Oil politics in the twentieth century was about the management of abundance, state power, and market growth. The legacy of this age of plenty includes declining conventional oil reserves, volatile prices, climate change, and enduring poverty in many oil-rich countries. The politics of oil are now at a turning point, and its future will not be like its past. In this in-depth primer to one of the world's most significant industries, authors Gavin Bridge and Philippe Le Billon take a fresh look at the contemporary political economy of oil. Going beyond simple assertions of peak oil and an oil curse, they point to an industry reordered by global shifts in demand toward Asia, growing reliance on unconventional reserves, international commitments to reduce carbon emissions, a growing campaign for fossil fuel divestment, and violent political struggles in many producer states. As a new geopolitics of oil emerges, the need for effective global oil governance becomes imperative. Highlighting the growing influence of civil society and attentive to the efforts of firms and states to craft new institutions, this fully updated second edition identifies the challenges and opportunities to curtail price volatility, curb demand and the growth of dirty oil, decarbonize energy systems, and improve governance in oil-producing countries.

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Oil

Oil

Oil pulses through our daily lives. It is the plastic we touch, the food we eat, and the way we move. Oil politics in the twentieth century was about the management of abundance, state power, and market growth. The legacy of this age of plenty includes declining conventional oil reserves, volatile prices, climate change, and enduring poverty in many oil-rich countries. The politics of oil are now at a turning point, and its future will not be like its past. In this in-depth primer to one of the world's most significant industries, authors Gavin Bridge and Philippe Le Billon take a fresh look at the contemporary political economy of oil. Going beyond simple assertions of peak oil and an oil curse, they point to an industry reordered by global shifts in demand toward Asia, growing reliance on unconventional reserves, international commitments to reduce carbon emissions, a growing campaign for fossil fuel divestment, and violent political struggles in many producer states. As a new geopolitics of oil emerges, the need for effective global oil governance becomes imperative. Highlighting the growing influence of civil society and attentive to the efforts of firms and states to craft new institutions, this fully updated second edition identifies the challenges and opportunities to curtail price volatility, curb demand and the growth of dirty oil, decarbonize energy systems, and improve governance in oil-producing countries.

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Economic Diversification in Resource Abundant Economies

Economic Diversification in Resource Abundant Economies

The macro-economy of Saudi Arabia has been dominated by oil exports which between 1970 and 1995 accounted for more than 85 per cent of total export earnings. Due to the fact that oil is an exhaustible resource, the price of which fluctuates considerably, and is produced in an enclave economy, the Saudi Arabian government had recognized the needs to diversify their economy away from oil as the main source of income to avoid the economic problems that usually, associated with the resource curse. Therefore, since the oil price crashed in 1986, the Saudi Arabian government has adopted a new policy to develop non-oil sectors, such as manufacturing, agriculture and more recently, non-oil minerals. This study focuses on the minerals sector in Saudi Arabia which is considered one of the economic activities which has already started to achieve the strategic goal of economic diversification away from oil activities as the main source of national income. The considerable attention has been paid to the large reserves of strategic minerals that have been found such as, phosphate and bauxite.

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Crude oil price analyses

Crude oil price analyses

The price of the crude oil influences the lives of each of us. But is it clear to each of us if the price is artificially influenced or has some fundamental reasons to change? Are the crude oil traders more influenced by OPEC decisions or they rather tend to keep more closer eye on the technical parameters of the crude oil price development? I am trying to investigate one aspect of this phenomena.

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Effects of the Oil Export Price Increase on the Economy

Effects of the Oil Export Price Increase on the Economy

This study examines the effects of the oil export price increase in both theoretical and empirical contexts considering the Kazakhstani economy as a case study, and discusses the effects of different macro closure rules. The study has been motivated by several factors. First, the theoretical literature on this subject is limited as it relies on the Salter-Swan framework that does not incorporate two- way trade or it assumes the oil sector an enclave. Second, the empirical literature on the effects of the oil export price increase on Kazakhstan using an economy-wide framework is limited. Third, there is hardly anything in the literature that tests the effects of different macro closure rules in theoretical multi-sector models, although different macro closure rules might trigger different results. As a result, most of the CGE modelers conventionally do not explain the rationale behind their choice of macro closure rules, although the results might be different under different macro closure rules. The study develops several stylized models to test the effects of alternative macro closure rules and applies Lofgren et al''s (2002) model to the Kazakhstani economy.

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Does the U.S dollar have an effect on the price of oil?

Does the U.S dollar have an effect on the price of oil?

This study aims at investigating the following: first, whether the U.S exchange rate has a negative effect on the price of crude oil or not; second, whether there is a unidirectional relationship or not that runs from the U.S dollar exchange rate to the price of crude oil by conducting a Granger causality test; third, verify whether there is a long- run relationship between our proposed variables by conducting a co-integrated test by using the Engle-Granger test. This study finds a significant negative bivariate relation between the price of crude oil and the U.S dollar exchange rate when using monthly data. Furthermore, when using the same annual values of the two variables, this study shows that change of U.S dollar exchange rate does Granger cause the change in the price of crude oil at 5% level of significance, however, the oil price does not Granger cause change in U.S exchange rate at 5% level of significance. Therefore, the existence of a one way (unidirectional) effect is realized at 5% level of significance, which runs from the U.S dollar exchange rate to the price of crude oil.

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