It's a fair bet that most of what you think you know about oil prices is wrong. Despite the massive price fluctuations of the past decade, the received wisdom on the subject has remained fundamentally unchanged since the 1970s. When asked, most people - including politicians, financial analysts and pundits - will respond with a tired litany of reasons ranging from increased Chinese and Indian competition for diminishing resources and tensions in the Middle East, to manipulation by OPEC and exorbitant petrol taxes in the EU. Yet the facts belie these explanations. For instance, what really happened in late 2008 when, in just a few weeks, oil prices plummeted from $144 dollars to $37 dollars a barrel? Did Chinese and Indian demand suddenly dry up? Did Middle East conflicts magically resolve themselves? Did OPEC flood the market with crude? In each case the answer is a definitive no - quite the opposite in fact. Industry expert Salvatore Carollo explains that the truth behind today's increasingly volatile oil market is that over the past two decades oil prices have come untethered from all classical notions of supply and demand and have transcended any country's, consortium's, cartel's, or corporate entity's powers to control them. At play is a subtler, more complex game than most analysts realise (or are unwilling to admit to), a very dangerous game involving runaway financial speculation, self-defeating government policymaking and a concerted disinvestment in refinery capacity among the oil majors. In "Understanding Oil Prices" Carollo identifies the key players in this dangerous game, exploring their competing interests and motivations, their moves and countermoves. Beginning with the1976 oil embargo and moving through the 1986 Chernobyl incident, the implementation of the US Clean Air Act Amendments of 1990, and the precipitous expansion of the oil futures market since the turn of the century, he traces the vast structural changes which have occurred within the oil industry over the past four decades, identifying their economic, social and geopolitical drivers, and analysing their fallout in the global economy. He explores the oil industry's decision to scale down refining capacity in the face of increasing demand and the effects of global shortages of petrol, diesel, jet fuel, fuel oil, chemical feedstocks, lubricants and other essential finished products, and describes how, beginning in the year 2000, the oil futures market detached itself almost completely from the crude market, leading to the assetization of oil, and the crippling impact reckless speculation in oil futures has had on the global economy. Finally he proposes new, more sophisticated models that economists and financial analysts can use to make sense of today's oil market, while offering industry leaders and government policymakers prescriptions for stabilising the market to ensure a relatively steady flow of affordable oil. A concise, authoritative guide to understanding the complex, oft misunderstood oil markets, "Understanding Oil Prices" is an important resource for energy market participants, commodity traders and investors, as well as business journalists and government policymakers alike.
陈河,男,原名陈小卫,生于浙江温州,年少时当过兵,曾担任温州市作家协会副主席。1994年出国,在阿尔巴尼亚经营药品生意。1999年移民加拿大,定居多伦多。主要作...
何炳棣,中央研究院院士。國立清華大學文學士、美國哥倫比亞大學哲學博士。美國芝加哥大學歷史系湯遜講座教授、美國加州大學Irvine分校傑出訪問教授。著作:《中國會...
油品计量化验技术与管理 内容简介 《油品计量化验技术与管理》内容包括油品计量技术、油品化验技术、油品数量管理和油品质量管理等4部分。详细介绍了油品计量的法规体系...
中国现代果树病虫原色图鉴 全彩大全版 内容简介 《中国现代果树病虫原色图鉴(全彩大全版)(精) 》通过2010张彩图、390幅病原菌墨线图,180万文字 ,详细...
婚姻.家庭和遗产继承 内容简介 这是一个以罗马法《民法大全》原始文献中有关婚姻、家庭和遗产继承为主题的翻译作品。1995年在北京出版的有关这些主题的第II册和第...
金一南:国防大学战略教研部教授,少将军衔,博士生导师,全国模范教师,全军优秀教师,连续三届国防大学“杰出教授”。曾赴美国国防大学和英国皇家军事科学院学习,主要研...
女科要旨-中医女科十大名著-大字本 本书特色 《女科要旨》为清代名医陈修园所著。全书共四卷,卷一论调经、种子;卷二论胎前;卷三论产后;卷四论杂病、外科。书中就上...
伤科卷 本书特色 中医名著浩如烟海,积淀了数以千年的精华,养育了难以计数的英才,昭示着绚丽无比的辉煌。历史证明,中医的成才之路,非经典名著滋养下的躬身实践,...
AppliedVeterinaryClinicalNutritionprovidescurrent,clinicallyrelevantnutritionala...
Howdowepracticejournalisminadigitalworld,inwhichtheoldrulesnolongerapply?Thistex...
Readersinterestinanoverviewofimportantaspectsofthestrategyfieldwillfindthisbooka...
史景迁(Jonathan D,Spence),世界著名汉学家,现任美国历史学会主席。史氏以研究中国历史见长(从他取名蕴含景仰司马迁之意可见他对此专业的热爱)。他...
村上春树(1949— ),日本著名作家。京都府人。毕业于早稻田大学文学部。1979年以处女作《且听风吟》获群像信任文学奖。主要著作有《挪威的森林》、《世界尽头与...
(日)前坂俊之 Maesaka Toshiyuki1943年出生于日本国冈山县,毕业于庆应义塾大学经济学部,1969年进入《每日新闻》东京总部工作。现为日本静冈...
问题始于威尼斯。这是爱尔琦和米哈伊在意大利蜜月旅行的第一站。在那里,爱尔琦发现她的新婚丈夫经常独自一人在小巷里徘徊。问题在拉文纳继续出现。当夫妇二人坐在露天咖啡...
葛兆光,上海复旦大学文史研究院院长,复旦大学历史系教授,博士生导师.原籍福建,1950年生于上海,1977年考入北京大学中文系古典文献专业,1984年同专业研究...
The technical analysis classic-revised and updated to help you succeed, even dur...
作品目录《中国大乘佛学 上》目录: 弁言 一 中国大乘佛学——引论 二 中国大乘佛学前奏——六家七宗 三 僧肇三论 四 道生的“佛
“知识创造理论之父”野中郁次郎作品,陈劲、陈春花作序推荐带你在"共同善"的基础上,建立起系统性知识创造框架,重建商业模式,打造组织发展新格局◎内容简介经过20多...
《R语言数据可视化之美》内容简介:本书主要介绍如何使用R中的ggplot2包及其拓展包,以及ggraph、circlize和plot3D等包绘制专业图表