共查询到20条相似文献,搜索用时 15 毫秒
1.
Noel D. Uri 《Energy Conversion and Management》1982,22(1):19-29
The analysis in this paper is directed at examining the effect of energy prices on the quantity of energy demanded in the transportation sector in the United States. For motor gasoline, the suggestion is that vehicle miles travelled as well as the stock of automobiles respond to changing motor gasoline prices. For other fuels consumed in this sector, the quantity of energy consumed does respond to energy prices as well as the level of economic activity. The magnitude of the response is typically small. 相似文献
2.
The recent boom in oil prices has attracted many investors to oil companies in search of both returns and diversification benefits. This analysis of the risk factors of investing in the oil and gas industry in 34 countries finds evidence that oil price is a globally priced factor for the oil industry. The oil and gas sector in developed countries responds more strongly to oil price changes than in emerging markets. Oil and gas industry returns also respond asymmetrically to changes in oil prices; oil price rises have a greater impact than oil price drops. There is no parallel to the asymmetry of oil price changes in other industries related to commodities. If there is any asymmetry, it is in the opposite direction from oil. Negative commodity price changes have a greater impact than positive ones. The results seem to indicate that the oil and gas industry is distinguished by a pass-through effect. 相似文献
3.
Wietze Lise Vincent Linderhof Onno Kuik Claudia Kemfert Robert Östling Thomas Heinzow 《Energy Policy》2006
This paper develops a static computational game theoretic model. Illustrative results for the liberalising European electricity market are given to demonstrate the type of economic and environmental results that can be generated with the model. The model is empirically calibrated to eight Northwestern European countries, namely Belgium, Denmark, Finland, France, Germany, The Netherlands, Norway, and Sweden. Different market structures are compared, depending on the ability of firms to exercise market power, ranging from perfect competition without market power to strategic competition where large firms exercise market power. In addition, a market power reduction policy is studied where the near-monopolies in France and Belgium are demerged into smaller firms. To analyse environmental impacts, a fixed greenhouse gas emission reduction target is introduced under different market structures. The results indicate that the effects of liberalisation depend on the resulting market structure, but that a reduction in market power of large producers may be beneficial for both the consumer (i.e. lower prices) and the environment (i.e. lower greenhouse gas permit price and lower acidifying and smog emissions). 相似文献
4.
There is a considerable body of literature that has studied whether or not an adequately designed tax swap, whereby an ecotax is levied and some other tax is reduced while keeping government income constant, may achieve a so-called double dividend, that is, an increase in environmental quality and an increase in overall efficiency. Arguments in favor and against are abundant. Our position is that the issue should be empirically studied starting from an actual, non-optimal tax system structure and by way of checking the responsiveness of equilibria to revenue neutral tax regimes under alternate scenarios regarding technological substitution. With the use of a CGE model, we find that the most critical elasticity for achieving a double dividend is the substitution elasticity between labor and capital whereas the elasticity that would generate the highest reduction in carbon dioxide emissions is the substitution elasticity among energy goods. 相似文献
5.
In this paper robust elasticity estimates of coal demand for China are derived using annual data 1953–1992. In so doing, we illustrate the use of a powerful yet practically convenient and recently developed modelling procedure devised by Stock and Watson (known as Dynamic OLS (DOLS)), who provide evidence, based on Monte Carlo simulations, of this estimator being superior in small samples compared to a number of alternative estimators, as well as being able not only to accommodate higher orders of integration but also to account for possible simultaneity within regressors of a potential demand system. Furthermore, cointegration and error-correction methods are employed to derive short-run price and income elasticities. Estimated results are quite robust not only in terms of statistical prowess but also in terms of economic intuition and indicate that, over the long run, both price and income elasticities are close to unity. While short-run price and income elasticities are less (in absolute value) than their long-run counterparts, there seems to be some divergence in short-run parameters from a subsample analysis. Overall, results seem to imply that for China, coal consumption should remain relatively constant as future modernization strategies for economic development are pursued. In addition, the study has clear methodological implications for estimating the long- and short-run elasticities in a demand function in general, and in a wide variety of fields in future applied research. 相似文献
6.
In this paper we examine the empirical performance of affine jump diffusion models with stochastic volatility in a time series study of crude oil prices. We compare four different models and estimate them using the Markov Chain Monte Carlo method. The support for a stochastic volatility model including jumps in both prices and volatility is strong and the model clearly outperforms the others in terms of a superior fit to data. Our estimation method allows us to obtain a detailed study of oil prices during two periods of extreme market stress included in our sample; the Gulf war and the recent financial crisis. We also address the economic significance of model choice in two option pricing applications. The implied volatilities generated by the different estimated models are compared and we price a real option to develop an oil field. Our findings indicate that model choice can have a material effect on the option values. 相似文献
7.
Jianfang Zhang Zhengyuan Li Rui Cai Tianyu Zhang Shize Yang Lu Ma Yan Wang Yucheng Wu Jingjie Wu 《ENERGY & ENVIRONMENTAL MATERIALS》2023,6(2):e12307
Regulating the selectivity toward a target hydrocarbon product is still the focus of CO2 electroreduction. Here, we discover that the original surface Cu species in Cu gas-diffusion electrodes plays a more important role than the surface roughness, local pH, and facet in governing the selectivity toward C1 or C2 hydrocarbons. The selectivity toward C2H4 progressively increases, while CH4 decreases steadily upon lowering the Cu oxidation species fraction. At a relatively low electrodeposition voltage of 1.5 V, the Cu gas-diffusion electrode with the highest Cuδ+/Cu0 ratio favors the pathways of hydrogenation to form CH4 with maximum Faradaic efficiency of 65.4% and partial current density of 228 mA cm−2 at −0.83 V vs RHE. At 2.0 V, the Cu gas-diffusion electrode with the lowest Cuδ+/Cu0 ratio prefers C–C coupling to form C2+ products with Faradaic efficiency topping 80.1% at −0.75 V vs RHE, where the Faradaic efficiency of C2H4 accounts for 46.4% and the partial current density of C2H4 achieves 279 mA cm−2. This work demonstrates that the selectivity from CH4 to C2H4 is switchable by tuning surface Cu species composition of Cu gas-diffusion electrodes. 相似文献
8.
Carbon dioxide emissions and economic growth: Panel data evidence from developing countries 总被引:1,自引:0,他引:1
In this paper we test the Environment Kuznet's Curve (EKC) hypothesis for 43 developing countries. We suggest examining the EKC hypothesis based on the short- and long-run income elasticities; that is, if the long-run income elasticity is smaller than the short-run income elasticity then it is evident that a country has reduced carbon dioxide emissions as its income has increased. Our empirical analysis based on individual countries suggests that Jordan, Iraq, Kuwait, Yemen, Qatar, the UAE, Argentina, Mexico, Venezuela, Algeria, Kenya, Nigeria, Congo, Ghana, and South Africa—approximately 35 per cent of the sample—carbon dioxide emissions have fallen over the long run; that is, as these economies have grown emissions have fallen since the long-run income elasticity is smaller than the short-run elasticity. We also examine the EKC hypothesis for panels of countries constructed on the basis of regional location using the panel cointegration and the panel long-run estimation techniques. We find that only for the Middle Eastern and South Asian panels, the income elasticity in the long run is smaller than the short run, implying that carbon dioxide emission has fallen with a rise in income. 相似文献
9.
An update on the study by Ang [Energy Economics 9 (1987) 274–286] shows substantial changes in the relationship between energy consumption and national output across world countries from 1975 to 1997. While the ratio of commercial energy consumption to national output increases across countries as per capita income increases in 1975, the converse is observed in 1997. The cross-country energy elasticity has also dropped from values well above unity to below or close to unity. Using the 1997 data, the relationship between CO2 emissions and national output across countries is studied and the results show some interesting differences from that between energy consumption and national output. 相似文献
10.
Coal-fired power plants enjoy a significant advantage relative to gas plants in terms of cheaper fuel cost. This advantage may erode (or turn into disadvantage) depending on CO2 emission allowance price. Financial risks are further reinforced when the price of electricity is determined by natural gas-fired plants’ marginal costs. We aim to empirically assess the risks in EU coal plants’ margins up to the year 2020. Parameter values are derived from actual market data. Monte Carlo simulation allows compute the expected value and risk profile of coal plants’ earnings. Future allowance prices may spell significant risks on utilities’ balance sheets. 相似文献
11.
综述国内外炼钢电弧炉的概况,重点论述直流电弧炉的技术优越性。它具有冶炼性能良好、电耗低、电极消耗低、经济效益好,在世界各工业大国正在速迅发展,在我国处于起步阶段。 相似文献
12.
首先对欧洲各国在燃烧技术领域的研发现状进行介绍,然后介绍了宝钢研究院近年来在燃烧领域开展的研究,同时对各自的研究内容进行了对比,最后对今后钢铁行业节能工作开展的方向提出了自己的建议。 相似文献
13.
以北村水系为例,采用平面二维有限元水动力模型 RMA2 和水质模型RMA4,模拟分析了潮位影响、引水工程及水库泄水单因素水利工程水资源调度条件下河网水量水质时空变化规律,提出了3种闸、站、库联合调度方案,建立了水量水质联合调度评价指标综合评价方案.结果表明,落潮时引潮排水相结合方案为北村水系水利工程联合运行最优方案. 相似文献
14.
The persistent uncertainty about mid-century CO2 emissions targets is likely to affect not only the technological choices that energy-producing firms will make in the future but also their current investment decisions. We illustrate this effect on CO2 price and global energy transition within a MERGE-type general-equilibrium model framework, by considering simple stochastic CO2 policy scenarios. In these scenarios, economic agents know that credible long-run CO2 emissions targets will be set in 2020, with two possible outcomes: either a “hard cap” or a “soft cap”. Each scenario is characterized by the relative probabilities of both possible caps. We derive consistent stochastic trajectories—with two branches after 2020—for prices and quantities of energy commodities and CO2 emissions permits. The impact of uncertain long-run CO2 emissions targets on prices and technological trajectories is discussed. In addition, a simple marginal approach allows us to analyze the Hotelling rule with risk premia observed for certain scenarios. 相似文献
15.
This paper reports the greenhouse gas (GHG) emission intensity of the New Zealand (NZ) manufacturing sector at a combination of industry group and class levels (sub-sectors). The short-run impacts of a price on emissions are investigated with a focus on exporting activities. Sub-sectors that could be materially impacted by an expected range of emissions prices accounted for slightly over 9% of national gross domestic product. It is found that there is much variability of emission intensity within manufacturing and even within sub-sectors. An assessment of trade intensities further indicates that several emissions-intensive activities are also export-intensive. These activities are at most risk of losing competitiveness in the short-run if they are subjected to a price on GHG emissions that their competitors in other countries are not. Emissions reduction policies must take account of trade competitiveness imperatives if NZ is to meet its international GHG emissions target while maintaining manufacturing sector competitiveness. 相似文献
16.
Li4SiO4吸收CO2的实验研究 总被引:1,自引:0,他引:1
用固相法合成了用来循环使用的吸收CO2的Li4SiO4材料。通过热力学分析、X射线衍射(XRD)、热重分析(TG)确定了合成条件;用热重分析(TG)仪研究Li4SiO4吸附CO2的性能;用扫描电子显微镜(SEM)来观察Li4SiO4吸附CO2前后表面微观形貌的变化特征。结果发现,在900℃烧结2h可以合成Li4SiO4;材料在600~720℃段吸附CO2反应最为活跃,最高吸附量可达29.16%(质量分数)左右;材料吸附CO2后在750℃开始脱出CO2,到900℃左右可脱附完全,再生为Li4SiO4;CO2的体积百分含量(分压)对Li4SiO4吸附CO2的速度和吸附量有明显影响;气氛相同时,气体流量对吸附速度和吸附量的影响不明显。 相似文献
17.
Hydrogen production via electrolysis has been proposed as a way of absorbing the fluctuating electricity generated by wind power, potentially allowing the use of cheap electricity at times when it would otherwise be in surplus. We show that large-scale adoption of electrolysers would change the shape of the load–duration curve for electricity, affecting the optimal capacity mix. Nuclear power stations will replace gas-fired power stations, as they are able to run for longer periods of time. Changes in the electricity capacity mix will be much greater than changes to the pattern of prices. The long-run supply price of hydrogen will thus tend to be insensitive to the amount produced. 相似文献
18.
This paper assesses factors that potentially influence the volatility of crude oil prices and the possible linkage between this volatility and agricultural commodity markets. Stochastic volatility models are applied to weekly crude oil, corn, and wheat futures prices from November 1998 to January 2009. Model parameters are estimated using Bayesian Markov Chain Monte Carlo methods. Speculation, scalping, and petroleum inventories are found to be important in explaining the volatility of crude oil prices. Several properties of crude oil price dynamics are established, including mean-reversion, an asymmetry between returns and volatility, volatility clustering, and infrequent compound jumps. We find evidence of volatility spillover among crude oil, corn, and wheat markets after the fall of 2006. This can be largely explained by tightened interdependence between crude oil and these commodity markets induced by ethanol production. 相似文献
19.
Carbon dioxide (CO2) reduction, which is the central issue in addressing global warming, depends on the extent that clean energy can substitute for CO2 emitting coal and non-energy factors can substitute for energy factor. The purposes of this paper are to empirically investigate inter-factor/inter-fuel substitution in China and to evaluate the determinants of China's energy-related carbon intensity as well as mitigation effects of carbon tax. Considering China's rapid increase in energy consumption and the slow adjustment in substitution, the two-stage estimation method and the dynamic error correction mechanism are employed in this study. The empirical results suggest substitutability among different types of energy sources as well as substitutability among energy, labor, and capital. The magnitude of cross-price elasticities indicates that the substitutions are inelastic, which limits the scope of the Chinese government to implement substitution strategy aiming at energy conservation and environmental management. China's carbon intensity declined during 1985–2012, most of which can be attributed to labor substitution and energy price increase. However, carbon-intensive technology being embodied in China's capital investment (energy consuming equipment) has contributed to the increase in carbon intensity. A carbon tax of RMB 50/tonne could reduce 332.9 million tonnes CO2 emissions on the basis of 2012. In addition, if ignoring the feedback between inter-factor/inter-fuel substitutions, CO2 mitigation potential would be underestimated. 相似文献
20.
The aim of this study is to attempt to estimate the short-run and the long-run elasticities of demand for crude oil in Turkey by the recent autoregressive distributed lag (ARDL) bounds testing approach to cointegration. As a developing country, Turkey meets its growing demand for oil principally by foreign suppliers. Thus, the study focuses on modelling the demand for imported crude oil using annual data covering the period 1980–2005. The bounds test results reveal that a long-run cointegration relationship exists between the crude oil import and the explanatory variables: nominal price and income, but not in the model that includes real price in domestic currency. The long-run parameters are estimated through a long-run static solution of the estimated ARDL model, and then the short-run dynamics are estimated by the error correction model. The estimated models pass the diagnostic tests successfully. The findings reveal that the income and price elasticities of import demand for crude oil are inelastic both in the short run and in the long run. 相似文献