Oil Intensities And Oil Prices: Evidence For Latin America
Crude oil prices have dramatically increased over the past years and are now at a historical maximum in nominal terms and very close to it in real terms. It is difficult to argue, at least for net oil importers, that higher oil prices have a positive impact on welfare. In fact, the negative relation...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2008
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| Schlagworte: | |
| Online-Zugang: | BSB01 EUV01 HTW01 FHI01 IOS01 Volltext |
| Zusammenfassung: | Crude oil prices have dramatically increased over the past years and are now at a historical maximum in nominal terms and very close to it in real terms. It is difficult to argue, at least for net oil importers, that higher oil prices have a positive impact on welfare. In fact, the negative relationship between oil prices and economic activity has been well documented in the literature. Yet, to the extent that higher oil prices lead to lower oil consumption, it would be possible to argue that not all the effects of a price increase are negative. Climate change concerns have been on the rise in recent years and fossil fuel consumption is generally viewed as one of the main causes behind it. Thus this paper explores whether higher oil prices contribute to lowering oil intensities (that is, oil consumption per unit of gross domestic product). The findings show that following an increase in oil prices, OECD countries tend to reduce oil intensity. However, the same result does not hold for Latin America (and more generally for middle-income countries) where oil intensities appear to be unaffected by oil prices. The paper also explores why this is so |
| Beschreibung: | 1 Online-Ressource (23 Seiten)) |
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| 520 | 3 | |a Crude oil prices have dramatically increased over the past years and are now at a historical maximum in nominal terms and very close to it in real terms. It is difficult to argue, at least for net oil importers, that higher oil prices have a positive impact on welfare. In fact, the negative relationship between oil prices and economic activity has been well documented in the literature. Yet, to the extent that higher oil prices lead to lower oil consumption, it would be possible to argue that not all the effects of a price increase are negative. Climate change concerns have been on the rise in recent years and fossil fuel consumption is generally viewed as one of the main causes behind it. Thus this paper explores whether higher oil prices contribute to lowering oil intensities (that is, oil consumption per unit of gross domestic product). The findings show that following an increase in oil prices, OECD countries tend to reduce oil intensity. However, the same result does not hold for Latin America (and more generally for middle-income countries) where oil intensities appear to be unaffected by oil prices. The paper also explores why this is so | |
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| spelling | Alaimo, Veronica Verfasser aut Oil Intensities And Oil Prices Evidence For Latin America Alaimo, Veronica Washington, D.C The World Bank 2008 1 Online-Ressource (23 Seiten)) txt rdacontent c rdamedia cr rdacarrier Crude oil prices have dramatically increased over the past years and are now at a historical maximum in nominal terms and very close to it in real terms. It is difficult to argue, at least for net oil importers, that higher oil prices have a positive impact on welfare. In fact, the negative relationship between oil prices and economic activity has been well documented in the literature. Yet, to the extent that higher oil prices lead to lower oil consumption, it would be possible to argue that not all the effects of a price increase are negative. Climate change concerns have been on the rise in recent years and fossil fuel consumption is generally viewed as one of the main causes behind it. Thus this paper explores whether higher oil prices contribute to lowering oil intensities (that is, oil consumption per unit of gross domestic product). The findings show that following an increase in oil prices, OECD countries tend to reduce oil intensity. However, the same result does not hold for Latin America (and more generally for middle-income countries) where oil intensities appear to be unaffected by oil prices. The paper also explores why this is so Online-Ausg Climate change Crude oil Energy Energy Demand Energy Production and Transportation Environment Environment and Energy Efficiency Fossil Fossil fuel Fossil fuel consumption Gross domestic product Macroeconomics and Economic Growth Markets and Market Access Net oil Oil Oil Refining & Gas Industry Oil consumption Oil prices Lopez, Humberto Sonstige oth Alaimo, Veronica Sonstige oth Alaimo, Veronica Oil Intensities And Oil Prices http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4640 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Alaimo, Veronica Oil Intensities And Oil Prices Evidence For Latin America Climate change Crude oil Energy Energy Demand Energy Production and Transportation Environment Environment and Energy Efficiency Fossil Fossil fuel Fossil fuel consumption Gross domestic product Macroeconomics and Economic Growth Markets and Market Access Net oil Oil Oil Refining & Gas Industry Oil consumption Oil prices |
| title | Oil Intensities And Oil Prices Evidence For Latin America |
| title_auth | Oil Intensities And Oil Prices Evidence For Latin America |
| title_exact_search | Oil Intensities And Oil Prices Evidence For Latin America |
| title_exact_search_txtP | Oil Intensities And Oil Prices Evidence For Latin America |
| title_full | Oil Intensities And Oil Prices Evidence For Latin America Alaimo, Veronica |
| title_fullStr | Oil Intensities And Oil Prices Evidence For Latin America Alaimo, Veronica |
| title_full_unstemmed | Oil Intensities And Oil Prices Evidence For Latin America Alaimo, Veronica |
| title_short | Oil Intensities And Oil Prices |
| title_sort | oil intensities and oil prices evidence for latin america |
| title_sub | Evidence For Latin America |
| topic | Climate change Crude oil Energy Energy Demand Energy Production and Transportation Environment Environment and Energy Efficiency Fossil Fossil fuel Fossil fuel consumption Gross domestic product Macroeconomics and Economic Growth Markets and Market Access Net oil Oil Oil Refining & Gas Industry Oil consumption Oil prices |
| topic_facet | Climate change Crude oil Energy Energy Demand Energy Production and Transportation Environment Environment and Energy Efficiency Fossil Fossil fuel Fossil fuel consumption Gross domestic product Macroeconomics and Economic Growth Markets and Market Access Net oil Oil Oil Refining & Gas Industry Oil consumption Oil prices |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4640 |
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