scholarly journals “Shale Revolution” in the United States as the Main Driver of the World Oil Market Transformation

2019 ◽  
Vol 12 (6) ◽  
pp. 71-93
Author(s):  
S. A. Zolina ◽  
I. A. Kopytin ◽  
O. B. Reznikova
Keyword(s):  
United States ◽  
Crude Oil ◽  
Oil Production ◽  
The United States ◽  
Oil Price ◽  
Oil Market ◽  
Oil Exports ◽  
The World ◽  
Oil Sector ◽  
The U.S

In 2018 the United States surpassed Saudi Arabia and Russia to become the largest world oil producer. The article focuses on the mechanisms through which the American shale revolution increasingly impacts functioning of the world oil market. The authors show that this impact is translated to the world oil market mainly through the trade and price channels. Lifting the ban on crude oil exports in December 2015 allowed the United States to increase rapidly supply of crude oil to the world oil market, the country’s share in the world crude oil exports reached 4,4% in 2018 and continues to rise. The U.S. share in the world petroleum products exports, on which the American oil sector places the main stake, reached 18%. In parallel with increasing oil production the U.S. considerably shrank crude oil import that forced many oil exporters to reorient to other markets. Due to high elasticity of tight oil production to the oil price increases oil from the U.S. has started to constrain the world oil price from above. According to the majority of authoritative forecasts, oil production in the U.S. will continue to increase at least until 2025. Since 2017 the tendency to the increasing expansion of supermajors into American unconventional oil sector has become noticeable, what will contribute to further strengthening of the U.S. position in the world oil market and accelerate its restructuring.  

U.S. & Soviet Agriculture

Worldview ◽  
1982 ◽  
Vol 25 (12) ◽  
pp. 8-10 ◽  
Author(s):  
Lester R. Brown
Keyword(s):  
United States ◽  
Soviet Union ◽  
The United States ◽  
The Soviet Union ◽  
Grain Trade ◽  
Oil Exports ◽  
The World ◽  
Trading Partners ◽  
Economic Considerations ◽  
The U.S

Each day two 20,000-ton freighters loaded with grain leave the United States for the Soviet Union. This flow of grain between two major adversaries is influenced by economic considerations such as the size of the Soviet grain deficit, the U.S. capacity to supply, and the Soviet ability to pay. Political considerations include the risk to both trading partners of such a heavy interdependence, whether as supplier or market.Never before has a country dominated the world grain trade as the United States does today. Its 55 per cent share of world grain exports in 1981 easily overshadows Saudi Arabia's 24 per cent share of world oil exports in 1978. And while the amount of oil traded internationally has been falling since 1979, grain shipments are continuing to grow.

Notes from the Editors, June 2020

2020 ◽  
pp. c2-63
Author(s):  
The Editors
Keyword(s):  
United States ◽  
Oil And Gas ◽  
Oil Industry ◽  
The United States ◽  
Oil Price ◽  
Tight Oil ◽  
Shale Oil ◽  
The World ◽  
The U.S

buy this issue The current massive oil glut is the product of the effects of the tight oil or shale oil revolution, which for a time turned the United States into the biggest oil and gas producer in the world. Now, suddenly as a result of an overproduction of world oil, made far worse by the sudden falloff in demand due to the COVID-19 pandemic, we are witnessing the possible euthanasia of the U.S. tight oil industry, bleeding cash even before the oil price collapse and encumbered with mountains of debt.

scholarly journals Does COVID-19 effects the United States crude oil imports price?

2021 ◽  
Vol 33 (1) ◽  
pp. 57-67
Author(s):  
Shakil Ahmad ◽  
Keyword(s):  
United States ◽  
Crude Oil ◽  
The United States ◽  
Oil Price ◽  
Crude Oil Price ◽  
Ardl Model ◽  
The World ◽  
Percent Increase ◽  
Total Death ◽  
Adf Test

Introduction. The outbreak of the new coronavirus (COVID-19) crisis monopolizes these days the worldwide public agendas. The COVID-19 pandemic makes fear and uncertainty, defeat the world economy and swelling the financial markets instability. The coronavirus pandemic has led the global economy to slam the brakes, leading to an extremely sharp drop in demand for oil. It has created a massive oil glut and raised concerns about the lack of physical storage space for it. Materials and Methods. The autoregressive distributed lag (ARDL) model has been used for decades to study the correlation between variables using a single equation time series. The ARDL model is one of the most common dynamic unrestricted models in econometric literature. In this model, the dependent variable is expressed by the lag and current values of independent and its own lag value. This paper analyzed the effect of COVID-19 pandemic on the United States (US) Crude oil imports prices, using daily data for the period December 31, 2019 to March 21, 2020. Using the ADF test for stationary and bounds testing approach to cointegration, developed within an ARDL model. Results. Finding of the study showed that the total death, have significant consequence on the crude oil price, the adverse effect shows, if 1 percent increase in total death leads to decrease the crude oil -0.001 percent. The total cases are also negative effect the crude oil price, mean one percent increase in the COVID-19 which lead to decrease crude oil price -10.23. Discussion and Conclusion. The contuse increasing of COVID-19 pandemic generates shock waves on the crude oil markets, as well as in the real economy of US and also in the world. The deepness of the new economic recession will depend on the policy reaction to the coronavirus. This research paper analyzes how the COVID-19 total death and total cases effect the US crude oil price. The results of the study show that the world COVID-19 total death is significant impact on the crude oil price, if one percent increase in the total death in the world which lead decrees the crude oil price. The total cases of COVID-19 also have negative and significant effects the crude oil price.

THE INFLUENCE OF SCOTTISH ACCOUNTANTS IN THE UNITED STATES: THE EARLY CASE OF THE SOCIETY OF ACCOUNTANTS IN EDINBURGH

1997 ◽  
Vol 24 (1) ◽  
pp. 117-141 ◽  
Author(s):  
T. A. LEE
Keyword(s):  
United States ◽  
General Theory ◽  
Research Program ◽  
The United States ◽  
The World ◽  
Early Case ◽  
The Impact ◽  
Chartered Accountants ◽  
The U.S

This study represents part of a long-term research program to investigate the influence of U.K. accountants on the development of professional accountancy in other parts of the world. It examines the impact of a small group of Scottish chartered accountants who emigrated to the U.S. in the late 1800s and early 1900s. Set against a general theory of emigration, the study's main results reveal the significant involvement of this group in the founding and development of U.S. accountancy. The influence is predominantly with respect to public accountancy and its main institutional organizations. Several of the individuals achieved considerable eminence in U.S. public accountancy.

International trade protectionist policies and in-state preferences: A link

2017 ◽  
Vol 17 (1) ◽  
pp. 31-52 ◽  
Author(s):  
Sawsan Abutabenjeh ◽  
Stephen B. Gordon ◽  
Berhanu Mengistu
Keyword(s):  
United States ◽  
Public Policy ◽  
International Trade ◽  
Policy Instruments ◽  
The United States ◽  
Policy Outcomes ◽  
The World ◽  
State Preference ◽  
Public Policy Instruments ◽  
The U.S

By implementing various forms of preference policies, countries around the world intervene in their economies for their own political and economic purposes. Likewise, twenty-five states in the U.S. have implemented in-state preference policies (NASPO, 2012) to protect and support their own vendors from out-of-state competition to achieve similar purposes. The purpose of this paper is to show the connection between protectionist public policy instruments noted in the international trade literature and the in-state preference policies within the United States. This paper argues that the reasons and the rationales for adopting these preference policies in international trade and the states' contexts are similar. Given the similarity in policy outcomes, the paper further argues that the international trade literature provides an overarching explanation to help understand what states could expect in applying in-state preference policies.

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