Politics & Energy eJournal最新文献

{"title":"National Oil Sentiment Index: Predictive Strength on Returns of Oil Futures","authors":"Kamiar Kordi","doi":"10.2139/ssrn.3025939","DOIUrl":"https://doi.org/10.2139/ssrn.3025939","url":null,"abstract":"This paper aims to create a composite national oil sentiment index and examine the sentiment effects on oil futures. The intent is to extrapolate this index for the US market and assess its viability and applicability to other countries in future research. Oil sentiment is measured through certain market behaviors that have conventionally signaled the attitude of buyers and sellers of oil products. In the commodities market, price and its drivers are key components in gauging market sentiment. This research will expand beyond market price and its drivers, and incorporate a holistic approach that encompasses economic uncertainty, military capability, and national energy consumption as proxy inputs.","PeriodicalId":234456,"journal":{"name":"Politics & Energy eJournal","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114326806","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Oil Rent, the Rentier State/Resource Curse Narrative and the GCC Countries","authors":"E. Rutledge","doi":"10.1111/opec.12098","DOIUrl":"https://doi.org/10.1111/opec.12098","url":null,"abstract":"Despite the fact that ‘rent’ underpins both Rentier State (RS) and Resource Curse (RC) theses, external factors that help shape perceptions of it and determine its value, are rarely factored in. The purpose of this article is to suggest reasons for this shortcoming and, with particular reference to the ‘archetypal candidate’ Gulf Cooperation Council countries, question the utility per se of the RS/RC paradigm (RS outcomes can only manifest within RC contexts). To explain the default and long‐standing utilisation of the construct across the social sciences—in spite of the frequent need to detour around contrary data—this paper points firstly to the way in which rent is now popularly perceived (from logically grounded, to excessively unwarranted) and secondly, to the fact that ‘oil’ lies at the paradigm’s heart. It is a commodity that various Western polities once had unfettered control over; no other depletable natural resource in the past century has held such global economic significance (external actors clearly have a vested interest). Lastly, to underscore the need for a reappraisal of the RS/RC analytical framework, some data are presented that demonstrate that the GCC countries have not, comparatively speaking, suffered the deleterious consequences that the paradigm stipulates.","PeriodicalId":234456,"journal":{"name":"Politics & Energy eJournal","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130960533","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"After the Oil Spills: Transformation at the JIC","authors":"Gerry Yemen, E. H. James","doi":"10.2139/ssrn.2974806","DOIUrl":"https://doi.org/10.2139/ssrn.2974806","url":null,"abstract":"What if you were responsible for the day-to-day operations at the Joint Information Center (JIC) at the Unified Incident Command for the BP Gulf of Mexico oil spill? Suitable for MBA, EMBA, GEMBA, and executive education classes, this case offers insights about leadership in complex situations. A media supplement, providing the oil spill background and a visual stakeholder analysis of the situation, may be used alone or in conjunction with this case.United States Coast Guard Reserve Senior Chief Petty Officer Barbara Voulgaris has a lot on her plate. She needs to work on the six-day-on, one-day-off rotation proposal for her new boss, who had only been there a few days. She wondered if she should talk to him about the standard operating procedure (SOP) she had started, documenting the JIC's workflow process for her replacement when she rotated out in mid-July. Would he be responsive to her ideas? What needed to be dealt with immediately and what could she put on hold? What issues were urgent? What issues were important?United States Coast Guard Reserve Senior Chief Petty Officer Barbara Voulgaris has a lot on her plate. She needs to work on the six-day-on, one-day-off rotation proposal for her new boss, who had only been there a few days. She wondered if she should talk to him about the standard operating procedure (SOP) she had started, documenting the JIC's workflow process for her replacement when she rotated out in mid-July. Would he be responsive to her ideas? What needed to be dealt with immediately and what could she put on hold? What issues were urgent? What issues were important? \u0000Excerpt \u0000UVA-OB-1011 \u0000Aug. 18, 2010 \u0000“How many miles of shoreline are impacted?” the reporter asked. \u0000“We don't really have good figures at this point, because we're dealing with four states,” United States Coast Guard Reserve Senior Chief Petty Officer Barbara Voulgaris replied. “So it is virtually impossible to have an exact number of miles.” \u0000“How can you not know that, and when do you expect you will be able to answer my question?” \u0000. . .","PeriodicalId":234456,"journal":{"name":"Politics & Energy eJournal","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116579168","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"New Challenges in Energy Efficiency in the European Union: A Consumer Perspective","authors":"Cosmo Graham","doi":"10.2307/j.ctt22nmdd9.14","DOIUrl":"https://doi.org/10.2307/j.ctt22nmdd9.14","url":null,"abstract":"In November 2016, the European Commission presented an ambitious package of measures for a consumer centred clean energy transition with a central objective of cutting CO2 emissions in the EU by at least 40% by 2030. The proposals had three main goals: putting energy efficiency first, achieving global leadership in renewable energies and providing a fair deal for consumers. The aim of this paper is to focus on two aspects of the consumer side of this package: how the market is envisaged to work for consumers in general and the protections which are envisaged for consumers in vulnerable circumstances and those at risk of energy poverty. \u0000It is often said that there are three main objectives in energy policy: security of supply, protection of the environment and affordability and that this creates a “regulatory trilemma” because policies to achieve one policy can undermine the objectives of another policy. This paper argues that the Commission’s prioritisation of energy efficiency and the development of renewables is likely to make energy more expensive. There are proposals in the package aimed at ensuring better consumer engagement with the energy market but this paper argues, based on the experience of the UK market, it is unclear that these will work effectively without further policy development. Although the package recognises the position of the energy poor and consumers in vulnerable circumstances there are no supporting proposals which would address their position.","PeriodicalId":234456,"journal":{"name":"Politics & Energy eJournal","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134254468","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Flexible Demand and Supply As Enablers of Variable Energy Integration","authors":"Hannu Huuki, Santtu Karhinen, Maria Kopsakangas-Savolainen, R. Svento","doi":"10.2139/ssrn.2966053","DOIUrl":"https://doi.org/10.2139/ssrn.2966053","url":null,"abstract":"Abstract This article analyses the impact of the interplay between the demand response, wind penetration and hydropower in the Nordic power market. Long-term equilibrium model is developed, in which the thermal power capacity adjusts to the zero-profit level over varying real-time pricing adoption rates and wind power shares. The results show that an increased demand response decreases the amount of thermal power capacity and improves the utilization rate of thermal power and the value of wind power. There is a decreasing marginal gain from an increasing demand response adoption with respect to the thermal utilization and wind value factor. However, the demand response itself does not lead to lower CO2 emissions or reduced variation in hydropower generation.","PeriodicalId":234456,"journal":{"name":"Politics & Energy eJournal","volume":"67 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126284127","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Who Pays the Corporate Tax? Insights from the Literature and Evidence for Canadian Provinces","authors":"K. Mckenzie, Ergete Ferede","doi":"10.2139/ssrn.2957894","DOIUrl":"https://doi.org/10.2139/ssrn.2957894","url":null,"abstract":"Who bears the burden, or incidence, of the corporate income tax (CIT)? This is an important, if not somewhat contentious, policy issue. In this paper we provide a discussion of the existing research on the question, viewing it through a Canadian policy lens. We also use some new results from a companion technical paper, which undertakes one of the few empirical investigations of the issue using Canadian data, to discuss the implications of increases in corporate taxes for wages in Canadian provinces. While it is clear that people, not corporate entities, ultimately bear the burden of corporate taxes, a key question is which people? The answer to this question has important implications for the equity, or fairness, of the tax system. Much of the recent focus in policy discussions concerns the allocation of the burden of the CIT between owners of capital and labour. Since income from capital tends to be concentrated with wealthier individuals, if the burden of the CIT falls mostly on the owners of capital, it increases the progressivity of the tax system. On the other hand, if the tax is borne mostly by labour through lower wages, the CIT is less progressive. Much of the research into the incidence of the CIT has employed theoretical simulation models. Early models of this type, which were based on a closed economy with fixed supplies of labour and capital, suggested that most of the burden of the CIT would be borne by the owners of capital throughout the economy, and not just the shareholders of firms in the corporate sector. Subsequent extensions of those models into a small open economy setting,  where capital and goods are highly mobile between jurisdictions (countries, provinces), predict that most of the burden of the CIT will be borne by other inputs that are relatively inelastic in supply, such as labour. These small open economy models are particularly relevant for Canada. Viewing the results of these models through a Canadian lens, we conclude that there is good reason to expect that much of the burden of corporate taxes in Canada, particularly those levied by provincial governments, will fall on labour through lower wages. While useful, the predictions of these simulation models should be viewed with caution, largely because of the sensitivity of the results to the underlying assumptions. A nascent empirical literature has emerged that provides econometric-based estimates of the distribution of the burden of corporate taxes. While this research is relatively new, our reading is that the evidence is mounting that corporate taxes are indeed borne to a significant extent by labour through lower wages. However, there is very little empirical work done in an explicitly Canadian context. In a companion technical paper we employ Canadian data to examine the impact of provincial corporate taxes on wages. Our results suggest that, consistent with the predictions of the open economy simulation models, provincial corporate taxes adversely affect th","PeriodicalId":234456,"journal":{"name":"Politics & Energy eJournal","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-04-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132625660","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Risk and Abnormal Returns in Markets for Congestion Revenue Rights","authors":"Rimvydas Baltaduonis, Samuel Bonar, J. Carnés, E. Mastrangelo","doi":"10.2139/ssrn.2946987","DOIUrl":"https://doi.org/10.2139/ssrn.2946987","url":null,"abstract":"In organized energy markets that use locational pricing, power generators and energy suppliers procure financial transmission rights (FTRs) to hedge against grid con- gestion charges, while third-party speculators attempt to capture a return with these extremely volatile contracts. This paper develops a novel methodology for estimating the systematic risk of individual FTRs and detecting the presence of abnormal returns among these financial instruments. The prevalence of congestion paths with abnormal returns could be used by policy experts as an efficiency measure when assessing the performance of FTR markets. Being the only organized energy market in the Western Interconnection, California has implemented a version of FTRs officially known as congestion revenue rights (CRRs). This paper applies the proposed methodology to all auctioned CRRs from 2009 to 2015. Our analysis identifies the paths that exhibit persistent abnormal returns, with the majority of them being positive. We also compare the patterns of risk and abnormal returns between on-peak and off-peak CRRs, and find no significant differences.","PeriodicalId":234456,"journal":{"name":"Politics & Energy eJournal","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125942264","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Fracking the Sacred: Resolving the Tension between Unconventional Oil and Gas Development and Tribal Cultural Resources","authors":"H. M. Hoffmann","doi":"10.2139/SSRN.2776722","DOIUrl":"https://doi.org/10.2139/SSRN.2776722","url":null,"abstract":"Unconventional oil and gas development and the infrastructure it requires are surging in the United States, despite the inconsistent market for fossil fuels. The relative strength of the United States’ unconventional oil and gas reserves is enormous; this nation is home to the second largest reserves of “tight oil” in the world and the fourth largest shale gas reserves, both of which are slated for extensive further development. Although federal and tribal lands make up a relatively small percentage of the total oil and gas producing lands in the country, that percentage becomes significant when analyzed against the other values Congress has designated for these lands. One competing value is the trove of cultural resources of indigenous Americans. These cultural resources are virtually everywhere; they do not observe political or jurisdictional boundaries, and they are continually threatened by unconventional oil and gas operations. The recent controversy over the Dakota Access Pipeline (DAPL) and the threat it poses to the cultural resources of the Standing Rock Sioux Tribe illustrates this tension all too well. And that is but one example. This article will focus on DAPL and the Standing Rock Sioux tribe’s sacred sites along the Missouri River, along with three other prominent areas where unconventional oil and gas development threatens cultural resources: the greater Chaco Canyon region in northwestern New Mexico and southern Utah, the Bears Ears region of southeastern Utah, and the Blackfeet Reservation in western Montana. All are located above large oil and gas reserves proposed for hydraulic fracturing or tar sands development., or along the transport route to move crude oil to a refining location. Despite tribal objections to the siting of the unconventional oil and gas developments in these areas of great cultural value, federal law does little to protect tribal values. The reason for this is a combination of international and domestic demand for the oil and gas reserves, and highly discretionary federal and tribal mineral leasing and cultural protection laws. This Article will begin by defining unconventional oil and gas development and explain the various extraction techniques and processes. Then it will highlight three examples of cultural resources on federal and tribal lands in the United States facing threats from existing or proposed unconventional oil and gas development. Following this discussion, the Article will explain relevant laws governing oil and gas exploration on federal public lands, including the newly promulgated BLM fracking rule, and on tribal lands. Then, the various laws related to cultural resource protection in the United States will be discussed, with a focus on the intersection between unconventional mineral development and protection of cultural resources in particular. Part V will conclude with some recommendations for reconciling the statutory disconnect.","PeriodicalId":234456,"journal":{"name":"Politics & Energy eJournal","volume":"53 72 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-03-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116098882","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Towards Ghana's Energy Security: An Analyses of Existing Natural Gas Legal Frameworks in Ghana","authors":"L. Ahunu, I. Ackah","doi":"10.2139/SSRN.2928266","DOIUrl":"https://doi.org/10.2139/SSRN.2928266","url":null,"abstract":"Natural gas is considered one of the ultimate fuel for power generation and domestic consumption in the 21st Century due to its attractive environmental qualities. Due to this, the government of Ghana introduced a subsidized cylinder policy in the early 1990s to encourage the consumption of natural gas instead of charcoal and prevent deforestation. In addition, after the electricity reforms, policy makers initiated moves towards the construction of gas-fired thermal plants to augment the rain-fed power generation. Despite these policy interventions, Ghana has one of the highest rate of deforestation in the world. Again, over the past two decades, the country has experiences major load shedding and inconsistent power supply. The question is, what has been the effect of existing regulatory frameworks and policies on natural gas utilization in Ghana? Since Ghana requires investment in the gas and electricity sector to boost power supply, this study examines the existing frameworks and policies on natural gas and also provide recommendations for effective gas supply and utilization.","PeriodicalId":234456,"journal":{"name":"Politics & Energy eJournal","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131644156","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Merit Order Effect of Czech Renewable Energy","authors":"Petra Luňáčková, J. Pr̊uša, K. Janda","doi":"10.2139/ssrn.2927836","DOIUrl":"https://doi.org/10.2139/ssrn.2927836","url":null,"abstract":"We assess the impact of photovoltaic power plants and other renewable sources on the electricity supply curve in the Czech Republic. The merit order effect is estimated as the elasticity of electricity spot price with respect to change in supply of electricity from renewable sources. Data for the Czech electricity spot market from 2010 to 2015 are analyzed as this is the period with the steepest increase in a renewable generation capacity. The effect is estimated separately for solar and other renewable sources. We find a significant difference between these two groups. Our results show that based on hourly, daily and weekly data energy produced by Czech solar power plants does not decrease electricity spot price, creating double cost to the end consumer. However, the merit order effect based on averaged daily and weekly data is shown to exist for other renewable sources excluding solar (mainly water and wind). This contributes to the conclusion that the Czech renewables policy that prefers solar to other renewable sources may be considered as suboptimal.","PeriodicalId":234456,"journal":{"name":"Politics & Energy eJournal","volume":"38 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-03-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114012343","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}