The Journal of Energy and Development, autumn 2003, volume 29, number 1

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Guy F. Caruso, “World Oil Market Status and Outlook.” This paper provides an overview of the world oil markets and energy outlook based on the for... (More) Guy F. Caruso, “World Oil Market Status and Outlook.” This paper provides an overview of the world oil markets and energy outlook based on the forecasts and research from the U.S. Department of Energy’s Energy Information Administration (EIA) as of 2003.

Sharif Ghalib, “Iraq: Its Economy and External Debt.” Despite Iraq’s significant oil and economic potential, after two decades of warfare and civil dislocation, the country’s finances have been devastated, leaving it with a massive amount of external debt. This article examines Iraq’s official external debt (owed mostly to Saudi Arabia and Kuwait.) and ways in which Iraq could repay this debt.

Robert Looney, “Oil Prices and the Iraq War: Market Interpretations of Military Developments.” Oil price movements become erratic during periods of crisis and increased uncertainty, especially immediately preceding and following the initiation of conflict in oil-producing regions. The conflict itself generates a steady stream of information available to oil traders. Focusing on the 2003 Iraq conflict, this paper examines the manner in which this information appears to have affected the New York Mercantile Exchange (NYMEX) oil futures prices.

Dag Harald Claes, “Globalization and State Oil Companies: The Case of Statoil.” In Norway, Statoil has been a shining example of state regulation and participation in industrial and economic activities. The company was established as an operative and fully state-owned enterprise. This paper discusses why and how this state regulatory model was challenged from the early 1980s onward.

Geoffrey Rothwell and Bob van der Zwaan, “Are Light-Water Reactor Energy Systems Sustainable?” This paper proposes criteria for determining “intermediate sustainability” of an energy system over the foreseeable future. The authors propose four criteria related to the maintenance of natural capital, technical capital, and social capital. They apply these criteria to light-water reactor (LWR) energy systems and the LWR industry.

Surender Kumar and D. N. Rao, “Environmental Regulation and Production Efficiency: A Case Study of the Thermal Power Sector in India.” This study uses the output distance function, which is reciprocal of the output-based Farrell measure of technical efficiency, as an analytical tool to examine the impact of environmental regulation and pollution abatement on the production efficiency of the thermal power sector in India.

Peter Fusaro, “Green Trading: The Next Financial Market.” This paper summarizes the ongoing developments of the green trading markets for greenhouse gases, renewable energy credits, and the financial value of energy efficiency.

Ming-Yuan Chen, “The Survival and Growth of U.S. Petroleum Refineries in Response to Changes of Market Conditions.” This paper presents an econometric analysis of the restructuring of U.S. petroleum refining industry during 1981-1985 in response to the deregulation of crude-oil markets. The purpose is to determine whether a discernible pattern of refinery survival and growth emerges when the industry as a whole declines in this period.
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