An increasing number of oil market experts argue that OPEC members substantially overstate their oil reserves. While the economic implications could be dire, the incentives for overreporting remain unclear. This paper analyzes these incentives, showing that oil exporters may overreport to raise expected future supply, thereby discouraging oil-substituting R&D and improving their own future mark...

In theory, lump-sum transfers are a way to redistribute wealth without distorting production decisions. Recent agricultural policy reforms are an unusual large-scale application of this concept. The 1996 Federal Agricultural Improvement and Reform (FAIR) Act removed most price-contingent agricultural subsidies and replaced them with Production Flexibility Contracts—lump-sum payments with few ti...

Societies with low-level food production economies occupy the vast and diverse middle ground between hunting–fishing–foraging and agriculture. Efforts by Ford, Harris, Rindos, Zvelebil, and others to characterize this “in-between” territory are discussed, and a new conceptual framework is proposed. Domestication, the central landmark of this middle ground, is situated well away from the boundar...

debt: major default risks for dc banks, shortage of cash for the lowest-income developing countries (LICs), and uncertainty and high cost of credit for middleincome developing countries (MICs), all require attention; recycling: if OPEC surpluses are not placed in Ides to permit extra imports from des (tn-cycling) Ides will cut their purchases of such imports, and will be driven towards costly b...

The relevance of this study lies in the fact that modern oil market is characterized by instability and high competition. Depletion fields, deterioration equipment for production, price volatility political conflicts negatively affect Russia’s position global energy market. New economic conditions 2021 are associated with a decrease demand products, import dependence, conservation wells to comp...

Is there a place for today's fossil fuel exporters in low-carbon future? This study explores trade channels between energy and importers using novel electricity-hydrogen-steel systems model calibrated to Norway, major natural gas producer, Germany, consumer. Under tight emission constraints, Norway can supply Germany with electricity, (blue) hydrogen, or re-import of captured CO2. Alternatively...

Energy Conservation: Heat Transfer Design Considerations Using Thermodynamic Principles M. Minnucci, J. Ni, A. Nikolova, L. Theodore Department of Chemical Engineering Manhattan College Abstract Environmental concerns involving conservation of energy issues gained increasing prominence during and immediately after the OPEC oil embargo of 1973. In addition, global population growth has led to an...