Giannini Foundation of Agricultural Economics • University of California Much attention has been given to the introduction of biofuels assuming competitive oil markets. This paper argues that OPEC behaves as a cartel of nations and that this suggests different outcomes than those derived under the competitive or the standard cartel models. In particular, the paper shows that the competitive mod...

For several decades, petroleum has been a commodity of vital impor-tance to the global economy, in which a number of interesting marketphenomena has occurred. This monograph represents my efforts todescribe several of these phenomenon, along with a few other elementsof the oil market. My focus is on elements related to the extractionof petroleum, and the interactions between...

The relation between the climate regulation and the multilateral trade regime is a rising issue in the field of international governance. This article presents the options available to OPEC economies related to this. It analyses the option of introducing a carbon tax or border adjustment measures in the core of the WTO regime. It demonstrates that this option is not sustainable for both institu...

The membership structure matters to ensure a durable negotiating forum in an international organization. However, July 2017, Saudi Arabia and the United Arab Emirates, on behalf of Organization Petroleum Exporting Countries (OPEC), requested Indonesia reactivate its membership, which country had suspended—for second time—in November 2016. first suspension was January 2009—annulled Government (G...

Abstract I n this paper, the behavior of the real oil price and OPEC and non-OPEC oil production during 1973-2013 are modelled. Interactions among OPEC, non-OPEC oil production, global oil consumption, and the real price of crude oil are estimated using a Structural VAR model (SVAR). After providing evidence for the structural breaks in oil price in 1996, the results indicate that, ac...