A new recursive regression methodology is introduced to analyze the bubble characteristics of various financial time series during the subprime crisis. The methods modify a technique proposed in Phillips, Wu, and Yu (2011) and provide a technology for identifying bubble behavior with consistent dating of their origi-nation and collapse. The tests serve as an early warning diagnostic of bubble a...

most of the year kept prospectors at bay, there was little to regulate. But as global warming thaws the ocean’s layers, oil giants, shipping companies and even the odd enterprising tourist operator are casting their eyes towards the high north. The biggest boom could be in oil and gas. The US Geological Survey surprised some experts when it declared that a quarter of the world’s undiscovered re...

The past oil crises have caused dramatic improvements in fuel efficiency in all industrial sectors. The aviation sector-aircraft manufacturers and airlines-has also made significant efforts to improve the fuel efficiency through more advanced jet engines, high-lift wing designs, and lighter airframe materials. However, the innovations in energy-saving aircraft technologies do not coincide with ...

The ubiquitous Made in China stickers and labels on consumer products remind us daily of China’s incredible economic rise. The world is accustomed to this powerful phenomenon and seems to expect that China’s economy will grow at 10 percent annually for at least another decade. Such remarkable economic progress has lifted millions of Chinese out of poverty and also substantially benefited the gl...

Nigeria’s foreign exchange reserves, which was US$5.4 billion in 1999, rose to an overwhelming level of US$51.3 billion at end-2007 and further to US$53.0 billion in 2008, but owing to the crash in the international price of crude oil in 2008 and the aftermath of the global financial crisis, the reserve declined to US$42.4 billion in 2009. In trying to determine the optimum level, the paper ado...

This paper uses annual data on world oil price and consumption from 1965 to 2006 to calibrate a Hotelling model of optimal nonrenewable resource extraction. Numerical solutions are generated for various specifications of the elasticity of demand for both isoelastic demand and linear demand under each of two possible market structures: perfect competition and monopoly. Prior to the 1973 oil cris...

he late Nobel laureate Richard Smalley often said that “energy is the single greatest challenge facing humanity.” Energy needs in the U.S. and the world continue to increase, driving demand at an unsustainable pace. Possible options are carbon-based alternatives to oil, such as methane hydrates and the conversion of coal into methane gas, and the use of less readily available oil reservoirs and...

The history of ethanol-petrol blend application is summariserd. Past and future changes in the design of automotive engines are outlined. The properties of ethanol and petrol and their blends are compared. Early and recent reports on the performance of ethanol blends are summarised. The oil crisis coupled with the fact that likely contenders to replace present engines will operate efficiently o...

Worldwide energy crisis forced the researchers to explore for new and alternate sources of energy. For the developing countries this problems are acute. Generation of any kind of waste is a problem to the environment. Some wastes have the characteristics of producing energy by different thermochemical conversion. In the present work, waste tires were pyrolysed in a fixed bed reactor. The influe...

Abstract Background: In making investment decisions, asset risk and return are two crucial criteria on which investors base their decision. Objectives: This paper provides analysis compares different traditional alternative investments with special emphasis the COVID-19 crisis. Assets included in stocks, bonds, commodities, real estate, foreign exchange, cryptocurrencies, renewable energy sourc...