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ID:
160575
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| Summary/Abstract |
Does trading oil promote peace between rival countries? Despite the optimism of liberal theories on the value of economic interdependence, countries worry more about the possibility of being cut off from vital oil supplies than about forgoing the potential economic gains of trade. The 1979 Israeli-Egyptian peace is an exception to this rule, as the inclusion of oil trade agreements during negotiations succeeded and eventually became a positive aspect of the relations between the two states. However, this resulted not from the promotion of economic interdependence during negotiations, but from its avoidance. The United States guaranteed to compensate Israel for any breach in the oil agreement. This permitted Israel and Egypt to trade freely without imminent concern of becoming too dependent on one another. In consequence, they slowly built mutual trust over the years. Israeli and US declassified documents shed light on the creation of this unique oil trade agreement during the final phase of peace negotiations. We argue that a third-party guarantee to compensate for a breach in energy trade is often a necessary condition for such deals to succeed, provided that the guarantor meets certain preconditions unique to energy trade.
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| 2 |
ID:
118884
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| 3 |
ID:
184634
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| 4 |
ID:
112320
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| Publication |
2012.
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| Summary/Abstract |
Crude oil is a homogeneous good traded on specialised exchanges and quoted and invoiced predominantly in US dollars. Despite the strong case for the use of the US dollar as a vehicle currency in the oil trade, we provide an alternative view. We develop a simple network effects model to identify the conditions under which either a complete switch in the oil invoicing currency or parallel invoicing in different currencies is possible and economically sensible. We calibrate the model using low actual values for the transaction costs of using euro and/or US dollars, as well as a proxy for information costs, which decline with the increase in the use of the new currency. The results show that there will be a switch to parallel invoicing in both currencies when two conditions are met: first, oil exporters expect that a certain minimum number of other oil exporters will also start using the new currency; and second, the information costs associated with quoting oil contracts in two currencies are low.
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| 5 |
ID:
005100
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| Publication |
Cambridge, Cambridge University Press, 1993.
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| Description |
xv,306p.
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| Standard Number |
0521331439
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Copies: C:1/I:0,R:0,Q:0
Circulation
| Accession# | Call# | Current Location | Status | Policy | Location |
| 036242 | 338.27282/HAR 036242 | Main | On Shelf | General | |
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| 6 |
ID:
050213
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| Publication |
Cambridge, Woodhead Publishing Limited, 2002.
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| Standard Number |
185573074X
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Copies: C:1/I:0,R:0,Q:0
Circulation
| Accession# | Call# | Current Location | Status | Policy | Location |
| 047508 | 380.142282/LON 047508 | Main | On Shelf | General | |
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| 7 |
ID:
144905
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| Summary/Abstract |
Since China became a net oil importer in 1993, oil refineries have played integral roles in China's quest for oil security. And yet, the capacity, security, and configurations of refineries were rarely featured in the discussions about China's oil policy. To fill this gap, this paper explains the basics of refinery economics and technology, and details the development in China's refining industry since the early 1990s. By taking refineries into consideration, it then revisits and reassesses the existing literature regarding the motives and drivers behind China's foreign oil policy, its effectiveness, and the political interactions between China and crude oil producers.
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| 8 |
ID:
188939
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| Summary/Abstract |
This paper makes use of interdependence theory to analyse the historical development of the economic relations between the GCC countries and the United States. The focus will be on oil and arms trade between the GCC countries and the United States. The results show that while the military and security dependence of the GCC countries on the United States remains relatively intact, the dependence of the United States on the natural resources of the GCC region has decreased. In light of this, the paper suggests that the historical interdependence between the GCC countries and the United States has recently evolved into a unilateral dependence and that the GCC countries’ natural resources are directed towards Asian countries.
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| 9 |
ID:
073066
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