There are strong empirical arguments for the socalled `Hubbert thesis’, namely that global petroleum output is now approaching its peak. Recent (2004-2005) sharp increases in oil prices, which show no signs of being a temporary `spike’, make the Hubbert theory increasingly plausible. This event would have obvious implications for prices and economic activities directly dependent on oil products...

We consider a stylised model in which two cartel members bargain over the aggregate-production quota in a world of asymmetric information. We show that when the two cartel members are sufficiently different, the probability of agreement depends on both the current state of demand and initial production. Specifically, the probability of agreement is much lower when demand is low (and initial pro...

human capital (labor quality or knowledge embedded in human beings) is one the important issues in recent decade, because concentrating on this kind of capital can improve products and can make economic growth and development. this study has been investigated effective factors on human capital, emphasis on resource abundance for opec countries in period 2000-2012. to achieve that object, arturo...

A remarkable feature of the crude oil market is a dramatic rise in oil price volatility over time which has been accompanied by a substantial fall in oil production volatility. We investigate the sources of this opposite evolution of both oil market variables. Our main …nding is that the observed volatility puzzle can be rationalized by the fact that the price elasticities of both oil supply an...

In this study, the transesterification of palm oil with methanol for biodiesel production was studied by using CaO–ZnO as a heterogeneous base catalyst prepared by incipient-wetness impregnation (IWI) and co-precipitation (CP) methods. The reaction parameters considered were molar ratio of methanol to oil, amount of catalyst, reaction temperature, and reaction time. The optimum conditions—15:1 ...

The electricity and potable water production sector in Kuwait depends solely on oil and gas fired generation technologies. Complete reliance on oil and gas has negative impact on the country's economy and environment, and hence, calls for exploration for alternative energy sources. This paper presents results of analysis of including renewable energy technologies within the generation inventory...

The energy problem in the conditions of modern economic development has acquired a particularly large scale: this is due to elevated level environmental pollution from conventional sources and their limited amount Earth’s interior. This forced countries develop new, renewable sources. However, it relevant consider prospects for exporting countries, namely oil supplier states. Thus, purpose stud...