Descript |
xxv, 168 p. : ill., map |
Edition |
2nd ed. |
Contents |
Foreword xiii Preface xv Quick Reference Guide xix List of Figures xxiii List of Tables xxvii List of Boxes xxix 1 TheWorld Crude Oil Paradoxes 1 2 The Market Events from 2008 to 2011 7 World Energy Policy 8 The Financial Crisis and the Oil Market 10 Fundamentals or Financial Speculation? 17 Demand/Supply of Gasoline and Gasoil 21 WTI - Brent Differential 24 3 Evolution of the Price of Crude Oil from the 1960s up to 1999 29 1960-1980: The Oil Monopoly and the Two Crises in the 1970s 30 The 1980s: The Gradual Disappearance of OPEC 33 The Price War 35 1985-2000: From the Introduction of Brent as an International Benchmark to the Clean Air Act 37 The Suicide of OPEC 40 The Start of the Free Market 41 The Consequences of the Environmental Turnaround 44 4 Changes in the Market for Automotive Fuels 45 Evolution of Environmental Demand 45 Gasoline and its Components 50 Reforming 51 Cracking 52 Alkylation 53 Isomerization 53 Refiners Walk the Tightrope 53 The Fiscal Policy of the Industrialized Countries Regarding Fuels 55 5 World Oil Flow 63 Transformations in the Downstream 66 World Supply Structure 70 6 The Classical Model of the International Oil Market 73 7 The Short-term Model of the International Oil Market 81 8 The Brent Market 89 The Sale and Purchase Contract 90 The Forward Market for Brent (15 day Brent Contract) 94 The IPE Brent Market 100 The Divorce Between Oil Price and Oil 102 9 Principal Uses of the Forward and Futures Markets 105 Tax Spinning 105 Benchmarking 105 Hedging the Price Risks 106 Speculations on Operational Flexibilities at Loading 114 Market Structure: Contango and Backwardation 117 Procedures at the Loading Terminals 119 10 Problems of the Brent Forward Market 123 11 The European Refinery Crisis 131 12 Conclusions:We are Ourselves OPEC 155 Bibliography 163 Index 165 |
Note |
400 annual accesses. UkHlHU |
ISBN |
9781119962892 (e-book) |
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9781119962724 (hbk.) |
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