Skip to main content
SpringerLink
Log in

World oil market simulation

  • Chapter
International Energy Economics

Part of the book series: International Studies in Economic Modelling ((ISIM))

  • 142 Accesses

Abstract

Most of the models used to analyse the world oil market can be categorized under two broad headings: (i) recursive simulation models and (ii) intertemporal optimization models.1 Both types assume that OPEC operates as a cartel, although the way in which OPEC behaviour is modelled varies.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 169.00
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 219.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 219.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Bibliography

  • Adelman, M. A. and Jacoby, H. D. (1979) Alternative Methods of Oil Supply Forecasting. Advances in the Economics of Energy and Resources, 2, 1–38.

    Google Scholar 

  • Adelman, M. A. (1980) Energy-income Coefficients and Ratios: their Use and Abuse. Energy Economics, 2, 2–4.

    Article  Google Scholar 

  • Bohi, D. R. (1982) Price Elasticities of Demand for Energy — Evaluating the Estimates, Final report on Research Project 1220–1, EPRI EA-2612, Electric Power Reseach Institute, Palo Alto. Ca.

    Google Scholar 

  • British Petroleum, (1979). Oil Crisis... Again?, brief by Policy Review Unit, British Petroleum Company Ltd.

    Google Scholar 

  • British Petroleum (various years) Statistical Review of World Energy.

    Google Scholar 

  • Brown, S. P. A. and Phillips, K. R. (1984) The Effects of Oil Prices and Exchange Rates on World Oil Consumption. Federal Reserve Bank of Dallas Economic Review, July.

    Google Scholar 

  • Chase Econometrics (1986) The Next Oil Shock, Bala Cynwyd, PA.

    Google Scholar 

  • Chevron Corporation (1985) World Energy Outlook. Economic Department, San Francisco.

    Google Scholar 

  • Choe, B. J. (1984) ‘A Model of World Energy Markets and OPEC Pricing’. World Bank staff working papers no. 633.

    Google Scholar 

  • Daly, G., Griffin, J. M. and Steele, H. B. (1982) Recent Oil Price Escalations: Implications for OPEC Stability, in OPEC Behaviour and World Oil Prices, (ed J. M. Griffin and D. J. Treece), London, Allen and Unwin.

    Google Scholar 

  • EIA (Energy Information Administration) (1985) Annual Energy Outlook 1984, US Department of Energy, Washington, DC, January.

    Google Scholar 

  • EIA (Energy Information Administration) (1985) The Oil Market Simulation Model: Model Documentation Report, US Department of Energy, Washington, DC, May.

    Google Scholar 

  • EIA (Energy Information Administration) (1986) International Energy Outlook 1985. US Department of Energy, Washington, DC, April.

    Google Scholar 

  • EIA (Energy Information Administration) (1986) Monthly Energy Review. US Department of Energy, Washington, DC, December.

    Google Scholar 

  • EMF (Energy Modeling Forum) (1980) Aggregate Elasticity of Energy Demand, EMF, 4, Summary Report on Research Project 875, EPRI EA-1559. Electric Power Research Institute, Palo Alto, Ca.

    Google Scholar 

  • EMF (Energy Modeling Forum), (1982) US Oil and Gas Supply, EMF-5, Summary Report. Stanford University Energy Modeling Forum, Stanford, Ca.

    Google Scholar 

  • EMF (Energy Modeling Forum) (1982) World Oil, EMF-6, Summary Report. Stanford University Energy Modeling Forum, Stanford, Ca.

    Google Scholar 

  • Gately, D. (1983) OPEC: Retrospective and Prospects 1973–1990. European Economic Review, 21, 313–31.

    Article  Google Scholar 

  • Gately, D. (1984) A Ten Year Retrospective: OPEC and the World Oil Market. Journal of Economic Literature, 22, 1100–14.

    Google Scholar 

  • Gately, D. (1986) Lessons from the 1986 Oil Price Collapse. Bookings Papers and Economic Activity, 2. 237–84.

    Article  Google Scholar 

  • Grossling, B. F. and Nielsen, D. T. (1985) In Search of Oil. Financial Times Business Information, London.

    Google Scholar 

  • Hogan, W. W. and Leiby, P. N. (1985) Oil Market Risk Analysis, Report of the Harvard Energy Security Project, discussion paper no. H-85-03. Kennedy School of Government, Harvard University, Cambridge, Mass.

    Google Scholar 

  • Hubbert, M. K. (1979) Hubbert Estimates from 1956–1974 of US Oil and Gas, in Methods and Models for Assessing Energy Resources (ed. N. Grenon), Pergamon Press, Oxford.

    Google Scholar 

  • Huntington, H. G. (1985) The US Dollar and the World Oil Market. Energy Policy, August pp. 299–306.

    Google Scholar 

  • Huntington, H. G. (1987) A Reply: the US dollar and the World Oil Market. Energy Policy, April.

    Google Scholar 

  • International Energy Agency, (1986) Energy Policies and Programmes of IEA Countries: 1984 Review. OECD IEA, Paris.

    Google Scholar 

  • International Monetary Fund (1986) International Financial Statistics Yearbook.

    Google Scholar 

  • Kravis, I., Heston, A. and Summers, R. (1980) International comparisons of Real Product and its Compositions; 1950–1977. Review of Income and Wealth, March.

    Google Scholar 

  • Jenkins, G. (1985) Oil Economists Handbook. Elsevier, London.

    Google Scholar 

  • Marshalla, R. A., Nesbitt, D. M., Haas, S. M. et al. (1985) A Model of the World Oil Market with an OPEC Cartel. Energy, 10, 1089–103.

    Article  Google Scholar 

  • Marshalla, R. A. and Nesbitt, D. M. (1986) Future World Oil Prices and Production Levels: an Economic Analysis. Enegy Journal, 7, 1–22.

    Google Scholar 

  • Masters, C. et al. (1987) World Resources of Crude Oil, Natural Gas, Natural Bitumen and Shale Oil. US Geological Survey, Reston, Va.

    Google Scholar 

  • Morrison, M. B. (1987) Will Oil Demand Recover? A Challenge to the Consensus. Petroleum Review, July.

    Google Scholar 

  • Nehring, R. (1978) Giant Oilfields and World Oil Resources. Rand Corporation for the CIA.

    Google Scholar 

  • Odell, P. R. and Rosing, K. E. (1980) The Future of Oil. Kogan Page, London.

    Google Scholar 

  • Oil and Gas Journal (1985) World Oil and Gas at a Glance, OGJ, 30 December.

    Google Scholar 

  • OPEC (1983) Annual Statistical Bulletin. OPEC, Vienna.

    Google Scholar 

  • Pindyck, R. S. (1982) OPEC Oil Pricing and the Implications for Consumers and Producers, in OPEC Behaviour and World Oil Prices (eds J. M. Griffin and D. J. Taece), Allen and Unwin, London.

    Google Scholar 

  • Petroleum Intelligence Weekly, various.

    Google Scholar 

  • Roy, D. J. (1987) International Comparisons of Real Value-Added Productivity and Energy Intensity in 1980. Economic Trends, no. 404, June.

    Google Scholar 

  • Shell, (1986) The World Oil Scene and OPEC. Shell Briefing Service no. 2.

    Google Scholar 

  • Spanos, A. (1986) Statistical Foundations of Econometric Modelling. Cambridge University Press, Cambridge.

    Book  Google Scholar 

  • Summers R. and Heston, A. (1984) Improved International Comparisons of Real Product and Its Compositions: 1950–1980. Review of Income and Wealth, series 30. no. 2 June.

    Google Scholar 

  • Sweeney, J. L. and Boskin, M. J. (1985) Analysing Impacts of Potential Policy Changes on US Oil Security. Energy Journal, 6, special tax issue, 89–108.

    Google Scholar 

  • US Department of Energy (1987) Energy Security — A Report to the President of the United States. US DOE, Washington, DC.

    Google Scholar 

  • Verleger, P. K. (1982) The Determinants of Official OPEC Crude Prices. Review of Economics and Statistics, 64, 177–83.

    Article  Google Scholar 

  • Weyant, J. P. and Kline, D. M. (1982) OPEC and the Oil Glut: Outlook for Oil Export Revenues during the 1980s and 1990s. OPEC Review, Winter, pp. 333–64.

    Google Scholar 

Download references

Authors
  1. Nick Baldwin
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Richard Prosser
    View author publications

    You can also search for this author in PubMed Google Scholar

Editor information

Editors and Affiliations

  1. Department of Economics, Gothenburg University, Sweden

    Thomas Sterner

Rights and permissions

Reprints and permissions

Copyright information

© 1992 Springer Science+Business Media Dordrecht

About this chapter

Cite this chapter

Baldwin, N., Prosser, R. (1992). World oil market simulation. In: Sterner, T. (eds) International Energy Economics. International Studies in Economic Modelling. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-2334-1_15

Download citation

  • DOI: https://doi.org/10.1007/978-94-011-2334-1_15

  • Publisher Name: Springer, Dordrecht

  • Print ISBN: 978-94-010-5031-9

  • Online ISBN: 978-94-011-2334-1

  • eBook Packages: Springer Book Archive

Publish with us

Policies and ethics

Search

Navigation