Article
Environmental Studies
Yang Yang, Zhen Liu, Hayot Berk Saydaliev, Sajid Iqbal
Summary: Strategic petroleum reserves are an important tool to mitigate the risk of oil supply disruptions and geopolitical influence. By using econometric estimation and principal component analysis (PCA), this study measures the physical oil supply risk and strategic petroleum reserves in South Asia aim to enhance social welfare. The findings show that 30% of the crude oil distribution shortfall is attributed to the fluctuation in crude oil costing, resulting in a 40% decrease in GDP and significant social welfare wastage. The study also emphasizes the importance of crude oil accumulation and drawdown in optimizing consumer well-being while maintaining control over oil stockpiles.
Article
Energy & Fuels
Houyin Long, Shitong Wang, Wei Wu, Guanglu Zhang
Summary: This paper uses a computable general equilibrium model to examine the impact of oil shortages on the Chinese economy and proposes a framework for determining the optimal strategic petroleum reserve (SPR). The results show that oil shortages lead to price increases, GDP declines, and differential effects on energy and non-energy sectors.
Article
Economics
Jonathan A. Batten, Harald Kinateder, Peter G. Szilagyi, Niklas F. Wagner
Summary: Hedging stocks with oil can bring economic benefits, but the effectiveness of hedging varies with time and market conditions. Events such as the Global Financial Crisis can impact the effectiveness of hedging.
Article
Economics
Fangzhi Wang, Hua Liao
Summary: This paper examines the explanation and impact of unexpected economic growth on oil price shocks. By analyzing forecasting errors of mainstream institutions, it is found that unexpected economic growth in China had a significant effect on raising oil prices during 2000-2008, but this impact diminished over time due to improved accuracy in economic growth expectations. Additionally, lower-than-expected economic growth may lead to a decline in the real oil price after 2014.
Article
Environmental Sciences
Haider Mahmood, Najia Saqib
Summary: This study explores the asymmetrical effects of oil rents on CO2 emissions in 13 current OPEC economies and tests the Environmental Kuznets Curve (EKC) hypothesis. The results validate EKC in some countries, while highlighting the asymmetrical impact of oil rents on emissions in others.
FRONTIERS IN ENVIRONMENTAL SCIENCE
(2022)
Article
Engineering, Environmental
P. Tamizhdurai, N. Sakthipriya, K. Sivagami, Bokam Rajasekhar, Indumathi M. Nambi
Summary: This study assesses the impact and effectiveness of bioremediation on the environment and suggests the need for additional treatment methods for residual petroleum hydrocarbons.
PROCESS SAFETY AND ENVIRONMENTAL PROTECTION
(2022)
Article
Economics
Reid B. Stevens, Jeffery Y. Zhang
Summary: This study uses a structural vector autoregression model to analyze the impact of purchases and releases from the Strategic Petroleum Reserve (SPR) on oil prices in the U.S. The results indicate that while unanticipated purchases raise oil prices by about 1 percent, unanticipated releases have no measurable impact.
Article
Energy & Fuels
Amin Solouki, Shaffiq A. Jaffer, Jamal Chaouki
Summary: This paper presents an industrial process scheme for microwave-assisted demetallization and desulfurization of crude oil, showing advantages in efficiency, environmental friendliness, and low energy consumption. Economic investigation indicates the superiority of this process compared to existing technologies, with success depending on microwave power and regeneration process efficiency.
Article
Environmental Studies
Oluwasegun B. Adekoya, Johnson A. Oliyide, Oluwademilade T. Kenku, Mamdouh Abdulaziz Saleh Al-Faryan
Summary: This study conducts a comparative analysis on the impacts of uncertainties induced by government economic policy, crude oil, and stock markets on the stock returns of 62 energy firms. The research finds that economic policy uncertainty has a stronger influence, and oil market uncertainty outperforms general stock market uncertainty in certain causal relationships. The study emphasizes the importance of considering uncertainties, particularly those induced by economic policy, in modeling and forecasting stock returns.
Article
Environmental Studies
Fakhri J. Hasanov, Ruslan Aliyev, Dilvin Taskin, Elchin Suleymanov
Summary: Financial development plays a crucial role in long-term economic growth, especially in natural resource-rich developing countries. This study investigates the impact of financial development on the relationship between oil rents and non-oil sector development in oil-exporting countries of the Commonwealth of Independent States. The findings reveal a threshold effect of oil rents in Azerbaijan and Kazakhstan, suggesting that higher financial development can lead to more non-oil growth. In contrast, no threshold or interaction effects are found in Russia, indicating a linear positive impact of oil rents on non-oil economic development. Moreover, institutional quality has a positive influence on non-oil development in Azerbaijan, while its effect is statistically insignificant in Kazakhstan and Russia. Policy-makers should focus on enhancing the financial sector and institutional quality to maximize the benefits of oil rents for non-oil sector development.
Article
Environmental Studies
Zhen Liu, Yuk Ming Tang, Ka Yin Chau, Fengsheng Chien, Wasim Iqbal, Muhammad Sadiq
Summary: South Asian countries are challenged with energy price fluctuations and external shocks, necessitating the maintenance of high levels of strategic petroleum reserves. Afghanistan is the most vulnerable in terms of energy strategic reserves, while India is the least vulnerable country in the South Asian sub-region.
Article
Business, Finance
Ahmet Faruk Aysan, Jonathan A. Batten, Giray Gozgor, Rabeh Khalfaoui, Zhamal Nanaeva
Summary: This study investigates the relationship between economic uncertainty, measured by the Twitter-based economic uncertainty index (TEU), and Metaverse stocks in different time-frequency domains. Using Wavelet Local Multiple Correlation analysis, a significant and statistically positive correlation between TEU and the Metaverse stock market is identified across all time horizons examined. This positive correlation holds even when alternative measures of economic uncertainty, such as crude oil and gold volatility, are considered. The results emphasize the importance of factoring in real-world economic uncertainty in decision-making processes involving virtual reality environments.
FINANCE RESEARCH LETTERS
(2023)
Article
Engineering, Industrial
Mustapha Nourelfath, Haitham M. S. Lababidi, Tariq Aldowaisan
Summary: Upgrading existing refining facilities is crucial for producing high-quality petroleum products that meet future market demands. This study introduces a systematic Input-Output methodology to assess the socio-economic contribution of oil and gas megaprojects. The analysis reveals positive impacts on GDP and employment from clean energy megaprojects.
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
(2022)
Article
Thermodynamics
Aktham Maghyereh, Hussein Abdoh
Summary: This study investigates the time frequency and quantile dynamics of the dependence among stock prices of clean energy companies, oil & gas companies, and shocks to crude oil prices. The empirical results suggest that the impact of oil supply shocks on clean energy firms is mainly short-term, while the impact of aggregate demand shocks is mainly long and intermediate term. Overall, oil supply shocks have a larger impact on oil & gas stock returns than on clean energy stock returns.
Article
Thermodynamics
Xia Chen, Md Atikur Rahaman, Muntasir Murshed, Haider Mahmood, Md Afzal Hossain
Summary: This study assesses the impacts of petroleum consumption, economic growth, and technological innovation on carbon emissions in Bangladesh. The findings show that higher petroleum consumption and economic growth boost carbon emissions, while technological innovation reduces emissions. Recommendations include reducing dependency on petroleum, integrating environmental objectives into economic growth policies, and developing technology.