Market Power Discussion Reply
Article 1 Huppmann, D., & Holz, F. (2012). Crude oil market power—a shift in recent years?. The Energy Journal, 33(4).
This article talks about the oil market structure and how it shifted during the last 20 years. The article states that before the 2008 turmoil event with Saudi Arabia being the leader of the industry the prices came closer to the benchmark. This article will help me to explain what is going on now with the market and to explain the volatility of it for such big events as a pandemic.
Article 2 Holditch, S. A., & Chianelli, R. R. (2008). Factors that will influence oil and gas supply and demand in the 21st century. MRS bulletin, 33(4), 317-323.
This article talks about what will affect the supply and demand for the oil market. The article states that there will be 50- 60% growth for energy by 2030. There will be a growth in the demand because as a primary source of energy there will be more supply to meet all the demand. This article will help me to explain the reasons why the demand and supply will increase during the next 10 years. It will also help me develop the paper by talking about the current situation and the need for primary sources all around the globe.
Article 3 Lin, C. Y. C. (2008). Estimating supply and demand in the world oil market. the Journal of Energy and Development, 34(1/2), 1-32.
This article talks about the importance of oil and oil resources. The article also states that oil is not only a source of energy but also a source of political power. The article will help me to explain why oil is so important and why every country is involved in the market. Oil not only moves cars and runs factories but also drives national, political, and military from all around the world. Article 4 Kim, M. S. (2018). Impacts of supply and demand factors on declining oil prices. Energy, 155, 1059-1065. This article talks about different factors that changed the supply and demand of oil prices and the crisis that happened in 2008. The article also talks about what happened on the demand and supply curve in the united states. The article will help me develop the PA by explaining the consequences and results that the oil price decline impacted the oil market in the united states. Article 5 Mănescu, C. B., & Nuño, G. (2015). Quantitative effects of the shale oil revolution. Energy Policy, 86, 855-866.
This article talks about shale oil and the impacts that it had on the oil industry. The article states that shale oil helped the economy to grow with an increase of 0.2% in the GDP of oil importers. This article will help me explain the importance of shale oil and how it has impacted the economy. It will also help to explain the collapse in oil prices during the second half of 2014. Article 6 Maugeri, L. (2013). The shale oil boom: a US phenomenon. Harvard Kennedy School, Belfer Center for Science and International Affairs.
This article talks about shale oil and the good effects that it had on the oil industry. The article talks about the improvements in cost and technology. The article states that this oil might make the united states the largest global oil producer in a couple of years. This article will help me to explain the functions and advances that shale oil has. It will also help me to explain how shale oil benefits the united states.