Oil Market Dynamics through the Lens of the 2002-2009 Price Cycle

Oxford Institute of Energy Studies / by Bassam Fattouh http://www.oxfordenergy.org/pdfs/WPM39.pdf [Website]During the period 2002 to 2008 the oil market experienced a sustained increase in prices with the annual average price rising year-on-year for seven consecutive years. This boom ended with a spectacular collapse towards the end of 2008. These sharp price movements have captured public … Continue reading »

Emissions Trading with Profit-Neutral Permit Allocations

Oxford Institute for Energy Studies / by Cameron Hepburn, John K.-H. Quah and Robert A. Ritz http://www.oxfordenergy.org/pdfs/EV48.pdf [Abstract] This paper examines the impact of an emissions trading scheme (ETS) on industry output, price, costs, emissions, market shares, and pro…ts. We develop formulae for the number of emissions permits that have to be freely allocated to … Continue reading »