Crude and refined oil prices have been relatively high and volatile on a sustained basis since 1999. This paper considers the pass through of oil prices into consumer liquid (i.e. petrol, diesel and heating) fuel prices in such an environment.The pass through of oil prices into consumer liquid fuel prices has already been addressed extensively in the literature. Nonetheless much of this literature has either focused on the United States or on a time period when oil prices were relatively stable, or has used monthly data. The main contribution of this paper is a comprehensive combination of many features that have been considered before but rarely jointly. These features include: (1) the analysis of the euro area as an aggregate and a large number of countries (the initial 12 member states); (2) the consideration of different time periods; (3) the modelling of the data in raw levels rather than in log levels. This turns out to have important implications for our findings; (4) the use of high frequency (weekly) data, which, as results will suggest, are the lowest frequency one should consider; (5) the investigation of the different stages of the production chain from crude oil prices to retail distribution — refining costs and margins, distribution and retailing costs and margins; (6) the examination of prices including and excluding taxes — excise and value-added; (7) the modelling of prices for three fuel types — passenger car petrol and diesel separately and home heating fuel oil; (8) lastly we also address the issue of possible asymmetries, allowing for the pass through to vary according to (a) whether price are increasing or decreasing and (b) whether price levels are above or below their equilibrium level.The main findings are as follows: First, as distribution and retailing costs and margins have been broadly stable on average, the modelling of the relationship between consumer prices excluding taxes and upstream prices in raw levels rather than in logarithms has important implications for the stability of estimates of pass through when oil price levels rise significantly. Second, considering spot prices for refined prices improves significantly the fit of the estimated models relative to using crude oil prices. It also results in more economically meaningful results concerning the extent of pass through. Third, oil price pass through occurs quickly, with 90% occurring within three to five weeks. Fourth, using a relatively broad specification allowing for asymmetry in the pass through from upstream to downstream prices, there is little evidence of statistically significant asymmetries. Furthermore, even where asymmetry is found to be statistically significant, it is generally not economically significant. Lastly, these results generally hold across most euro area countries with few exceptions. 相似文献
Different mincing methods in the preparation of refrigerated whiting burgers had a significant effect on the products' quality during storage ( P < 0.05). The burgers containing pre-cooked mince products (PCMP) had the lowest microbial load with longest sensory shelf life (10 days). Oven drying of dry ingredients with subsequent hygienic practices markedly decreased microbial load in final products, from 5.30 to <1.47 log CFU g−1 for PCMP, 5.80–2.45 log CFU g−1 for washed mince products (WMP), 5.65–2.14 log CFU g−1 for unwashed mince products. The lowest trimethylamine and total volatile basic nitrogen (TVB-N) were observed with WMP reaching 14.7 and 42.03 mg per 100 g, respectively, at the end of storage. The differences in average surface colours of samples with different preparations and different additives were significant after mincing, but decreased after addition of ingredients, and after cooking. This study indicates the possibility of using pre-cooking as a method for formulated fish mince-based products as it had the highest consumer acceptance as well as longer sensory shelf life despite its higher values of trimethylamine and TVB-N compared with WMP. 相似文献
Experimental investigation shows that UV/hydrogen peroxide (H2O2) oxidation of a more concentrated phenolic wastewater can lead to economical savings. The savings can be achieved by the
lower amount of H2O2 required and time needed to treat the wastewater. Phenolic wastewater can be concentrated by treating the bulk wastewater
with activated carbon. The concentrated wastewater that is generated from activated carbon regeneration (assumed to be fully
regenerated by steam) can then be treated with UV/H2O2. Experimental results show that H2O2 concentration goes through an optimum value where adding any more H2O2 will result in less effective removal of contaminants. Conductivity of treated wastewater increases sharply then drops down.
This could be attributed to the presence of high molecular compounds, inorganic acids, and OH radicals. 相似文献
In this study, medium density fiberboard panels were produced by adding different ratios of some amine compounds to urea formaldehyde resin, which had 1:1.17 mol ratios. The formaldehyde contents, physical, and mechanical properties of medium density fiberboard panels were determined according to EN standard methods.In this study, it was determined that the formaldehyde emission emitted from medium density fiberboard panels decreased by adding urea, propylamine, methylamine, ethylamine, and cyclopentylamine solution. It was found that the water absorption and thickness swelling values increased slightly; however, the internal bond strength, modulus of rupture, and modulus of elasticity of medium density fiberboard panels also increased substantially, but these properties of medium density fiberboard panels decreased by adding higher ratios of urea solution. It was found that the formaldehyde emission of medium density fiberboard panels decreased 16.5% by using a 16% rate of urea formaldehyde resin and 0.8% rate of urea and ethylamine solution. These decreases were determined as 57% for cyclopentylamine solution addition, 41% for propylamine solution addition, and 48% for methylamine solution addition. 相似文献
Using Mycobacterium smegmatis as a rapidly growing host, six mycobacteriophages were isolated from a variety of environmental sources and characterised by restriction endonuclease digestion. All six phages had long, non-contractile tails and isometric heads characteristic of Siphoviridae and were relatively heat-stable up to 72 °C and generally retained infectivity at pH4–pH10 for 60 min. Each individual phage, when tested against M. smegmatis in both growth media and reconstituted milk, typically reduced host numbers by up to 7 logs. When all 6 phages were combined as a cocktail in milk, a strong bactericidal effect on M. smegmatis was observed over 96 h, evidenced by a 9-log reduction in host cell numbers. These results achieved against M. smegmatis, indicate that mycophages may have a potential application as anti-mycobacterial agents when used against more virulent pathogens such as Mycobacterium avium subsp. paratuberculosis, which has been detected in both raw and pasteurised milk. 相似文献
In this review, we aim to describe the mechanisms by which LAB can fulfil the novel role of efficient cell factory for the production of functional biomolecules and food ingredients to enhance the quality of cereal-based beverages. LAB fermentation is a safe, economical, and traditional method of food preservation foremost, as well as having the additional benefits of flavor, texture, and nutrition amelioration. Additionally, LAB fermentation in known to render cereal-based foods and beverages safe, in a chemical-free, consumer-friendly manner, from an antinutrient and toxigenic perspective.
Huge market opportunities and potential exist for food manufacturers who can provide the ideal functional beverage fulfilling consumer needs. Newly developed fermented cereal-based beverages must address markets globally including, high-nutrition markets (developing countries), lifestyle choice consumers (vegetarian, vegan, low-fat, low-salt, low-calorie), food-related non-communicable disease sufferers (cardiovascular disease, diabetes), and green label consumers (Western countries). To fulfil these recommendations, a suitable LAB starter culture and cereal-based raw materials must be developed. These strains would be suitable for the biopreservation of cereal beverages and, ideally, would be highly antifungal, anti-mycotoxigenic, mycotoxin-binding and proteolytic (neutralize toxic peptides and release flavor-contributing amino acids) with an ability to ferment cereals, whilst synthesizing oligosaccharides, thus presenting a major opportunity for the development of safe cereal-based prebiotic functional beverages to compete with and replace the existing dairy versions. 相似文献
The effects of hydrophobicity of the cathode catalyst layer on the performance of a PEM fuel cell are studied. The surface contact angle is measured to understand the changes of the hydrophobicity of the cathode catalyst layer upon the addition of hydrophobic dimethyl silicone oil (DSO). The results show that the contact angle increases with the DSO loadings in the cathode catalyst layer ranging from 0 to 0.65 mg/cm2. The subsequent electrochemical measurements of the fuel cells with various cathodes reveal that the addition of DSO in the cathode catalyst layer can effectively prevent the cathode flooding at high current density, thus leading to a much higher limiting current density and the maximum power density when compared to the fuel cell with a normal cathode. An optimal DSO loading in the cathode catalyst layer is found to be around 0.5 mg/cm2 under the testing conditions in this work. The fuel cell with cathode loaded with 0.5 mg/cm2 can reach the maximum power density of 356 mW/cm2 in H2/air (or 709 mW/cm2 in H2/O2) at room temperature, which is around 2.5 times in H2/air (or 1.8 times in H2/O2) of that with normal cathode. All of the results indicate that the hydrophobicity of the cathode catalyst layer plays a crucial role in the water management of the fuel cell. The possible function of the DSO on improved oxygen solubility for the oxygen starved cathode during flooding warrants some further investigation. 相似文献