English  |  正體中文  |  简体中文  |  Items with full text/Total items : 52048/87179 (60%)
Visitors : 8880283      Online Users : 121
RC Version 7.0 © Powered By DSPACE, MIT. Enhanced by NTU Library & TKU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/66351

    Title: Oil and the World Economy
    Authors: 柯大衛;Kleykamp, David
    Contributors: 淡江大學經濟學系
    Keywords: oil;speculation;geopolitical risk;OPEC;peak oil;strategic petroleum;reserves
    Date: 2008-10
    Issue Date: 2011-10-22 17:35:24 (UTC+8)
    Publisher: 新北市:淡江大學國際研究學院
    Abstract: The recent stupendous rise in the price of crude oil has led economists to propose many different reasons for this phenomenon. The fact that oil is a commodity traded on worldwide markets and used by every country in the world makes it difficult to assess these claims quantitatively and scientifically. This paper proposes seven separate, but interrelated, reasons for the rise in the value of crude oil and evaluates each of these quantitatively using a variety of methods and data sets. These include (1) rising costs and peak oil, (2) rising world demand, (3) increased speculation and spot storage, (4) increased hedging of US dollar assets, (5) greater assertiveness of OPEC and multinational corporations, (6) higher geopolitical risk premiums, and (7) increased additions to global strategic petroleum reserves. It is found that the world has roughly 45 years of oil remaining using Hotelling's Rule to estimate the time to exhaustion of the current known reserves. In addition, it is shown that about 40% of the current high price of oil is due to increased demand, another 10-20% is due to increased geopolitical risk, and the residual 40-50% is due to increased speculation and preemptive storage of oil. It is projected that with oil reserves reaching satisfactory levels, the price of oil should revert back to levels slightly below $100 per barrel during the remainder of 2008 and during 2009.
    Relation: Tamkang Journal of International Affairs=淡江國際研究 12(2), pp.51-117
    Appears in Collections:[經濟學系暨研究所] 期刊論文

    Files in This Item:

    File SizeFormat

    All items in 機構典藏 are protected by copyright, with all rights reserved.

    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library & TKU Library IR teams. Copyright ©   - Feedback