The workshop on “Recent evolutions of oil and commodity prices”, organized by FEEM, focused on the decline in the oil price in 2014. This is explained by a complex set of factors. It had implications on forecasting the price of oil and on oil price volatility and uncertainty, which increased.
Following the International Conference on “The Recent Evolutions of Oil and Commodity Prices” organized by FEEM on 4-5 June, 2015 Re3 interviews energy experts Leo Drollas, Vincent Kaminski, Lutz Kilian, Charles F. Mason, Apostolos Serletis and Adonis Yatchew on the drop in oil prices and their research on this issue.
We discuss the concepts of macroeconomic uncertainty, oil price uncertainty and oil price shocks. Given the relevance of oil and macroeconomic uncertainty, we illustrate how economic uncertainty can be defined and measured. We describe our proposed measure of oil price uncertainty and we illustrate the contribution of its underlying components.
The jihadist group formerly known as ISIS, which already controls vast areas of Syria and Iraq, has recently proclaimed the restoration of the caliphate. This article discusses the presence of a jihadist state in the Middle East, which represents a formidable threat to the Arab state system.
John M. Deutch – Emeritus Institute Professor at the MIT - addresses the consequences related to the unconventional oil revolution, focusing on US foreign policy, the driving forces leading towards a new world energy balance, the role of new players in a renewed energy scenario and the political, sociological and geostrategic dynamics.
Concern over access to resources is high in EU political consciousness, given recent political instability and resource nationalism in resource-rich nations. The article offers an overview of the EU project POLINARES, aimed at identifying the challenges related to competition for access to resources, and at proposing approaches to collaborative solutions.
Following the International Conference on “Oil Price Forecasts and Trends” organized by FEEM on May 23-24, 2013, Re3 interviews energy experts Bahattin Buyuksahin, Leo Drollas, John Elder, Wincenty Kaminski, Charles F. Mason and James Smith on the key issues of oil price forecasts and international energy markets.
Is there a causal relationship between oil prices and autocracy? This article argues the importance of going beyond deterministic formulations to investigate this relationship, and to use the analytical tools provided by the Rentier State Theory to gain a better understanding of the Arab uprisings and their aftermath.
China’s global quest for resources – in particular, oil and natural gas - has received unprecedented worldwide attention. But are the stakes raised unnecessarily high? In this article ZhongXiang Zhang, Distinguished Professor and Chair at Fudan University, China seeks to clarify these points.
Francesco Gattei from Eni gives an overview of the industry perspective on the important issue of energy security, topic of his talk at the plenary session "Energy supply and security" at the 12th IAEE European Energy Conference.
Between now and 2050, humanity must face a double problem: the growing scarcity of oil and the accumulation of greenhouse gases in the atmosphere. Solving this complicated riddle may appear an even harder task after the Fukushima disaster. This article focuses on a joint interdisciplinary research effort to solve this puzzle.
The sharp swings in oil prices and the marked increase in volatility during the latest 2008-2009 price cycle and more recently in 2011 raise concerns about the role of speculators in the oil market. Observers in the oil industry and in academic institutions have opposing views on the key drivers of oil prices.
For some years now, the price of oil has been out of control. None of the industry players are able to set the price level or influence its movement. Some consumers still believe that the oil price is determined within the context of the power balance between producers and consumers, but since the end of 1998, no one has been able to forecast the oil price correctly.
In this study real oil price dynamics have been assessed over a few important episodes since the 1990s. The evidence provides support to the demand side view: in this respect, macroeconomic shocks would appear to be the major upward driver of the real oil price over the whole period investigated.
This article contributes to the literature in two directions. First, it investigates the behaviour of futures prices returns for different energy and agricultural commodities, over the period 1986-2010. Second, it measures the market vulnerability to financial speculation for energy commodities over the period 1992-2010.
On the occasion of the international workshop on “Financial Speculation in the Oil Market and the Determinants of the Oil Price”, leading world experts were interviewed on the financial speculation in the oil market and its effects on the price of oil. We here report the interview held with Bahattin Buyuksahin, Senior Oil Market Analyst, International Energy Agency.
On the occasion of the international workshop on “Financial Speculation in the Oil Market and the Determinants of the Oil Price”, leading world experts were interviwed on the financial speculation in the oil market and its effects on the price of oil. We here report the interview held with Leo P. Drollas, Director and Chief Economist, Centre for Global Energy Studies.
IEW N. 2013.01
Water and Sewerage Industries
European Monetary Union
EU Energy Policy
Foreign Direct Investment