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Oil Stocks (oil + stock)
Selected AbstractsTERRORISM AND THE RETURNS TO OILECONOMICS & POLITICS, Issue 3 2009BROCK BLOMBERG The effect of terrorism on global oil prices has been largely explained through demand-side effects. We estimate an empirical model to re-examine the effect of terrorism on the price of global oil stocks across oil market regimes that reflect different supply constraints. We believe that terrorism will have larger impacts when global capacity is tight (i.e. when global demand is close to global supply). This means that any shock to capacity (say by conflict) should have the largest impact on profits before the first OPEC shock in the early 1970s. Since then, conflict shocks would not allow firms to exploit production in the same way, thus reducing the available profits that could be garnered by such production manipulation. If capacity constraints are binding when a conflict occurs, then we predict that a positive stock price reaction can be expected for oil firms from such a shock. We exploit a new panel dataset to investigate the relationship between oil profitability and conflict, using conflict data from the top 20 oil producing and exporting countries in the world. We show that in the later part of our sample, 1974,2005, as cartel behavior of OPEC member countries has diminished and as conflict has become more regular and thus the information surrounding it noisier, oil stock prices do not increase in response to conflict. However, in earlier capacity constrained eras, we find that oil stocks can in fact increase in response to conflict. In some cases, the impact of conflict may cause the return of oil stocks to increase by as much as 10 percentage points. [source] Does OPEC have enough spare capacity?OIL AND ENERGY TRENDS, Issue 5 2005Article first published online: 18 MAY 200 As world oil demand continues to rise strongly, OPEC is raising its own output accordingly. At present, markets seem to be adequately supplied and crude oil stocks show signs of increasing in the US and other major markets. Most OPEC countries, however, are now producing close to their physical limits and there are increasing worries that if demand goes on growing at its present rate there will be scarcely any spare output capacity available outside Saudi Arabia. [source] Improvement of thermooxidative stability of non-edible vegetable oils of Indian origin for biodegradable lubricant applicationLUBRICATION SCIENCE, Issue 4 2010P. V. Joseph Abstract For environmental reasons, as well as the dwindling source of petroleum, a new class of environmentally acceptable and renewable lubricants based on vegetable oils is available. Even though vegetable oils possess excellent lubricant-related properties, there are some concerns about using it as lubricant base oil. Still, unmodified and modified varieties of soybean, rapeseed, sunflower and canola oils have been in use in the USA and Europe. In India, with the shortage of edible oil, alternate sources of vegetable oils stocks are being explored. With this aim, a comprehensive study has been conducted earlier in the authors' laboratory. In this study, numerous options of non-edible vegetable oil sources were explored, and a few potential vegetable oils were studied in the laboratory. It was found that even though the oils performed much better in comparison with other vegetable oils, it still required improvement in thermooxidative stability. Therefore, in the later part of the study, different options were explored to improve thermooxidative stability. With a background on the initial studies of the authors as described above, the present paper deals with the studies on improvement of these non-edible candidate vegetable oils of Indian origin for lubricant by treating with selected antioxidants for applying them in lubricants. Copyright © 2010 John Wiley & Sons, Ltd. [source] | ||||||||||