The international oil industry in the 1980s

Few industries have undergone such rapid changes during the last ten years as the international oil industry. During this decade, there have been radical changes in the conditions under which international oil companies acquire and trade crude oil. In addition to the changes in the upstream sector the two quantum jumps in oil prices have drastically altered the conditions of downstream operations. Since 1979 oil demand fell more sharply than total energy demand, thereby reducing its relative importance in the energy economy. These events initiated a far-reaching adjustment process which is likely to continue.     

Europe’s energy policy and the task ahead

The oil shock of 1973 and the subsequent world recession have drastically demonstrated the weakness of countries dependent on external energy supplies. In the following, Guido Brunner, the competent Member of the Commission of the European Communities, describes the changes we are facing in the energy field and what the Community is doing to face up to them.     

Europe’s energy policy and the task ahead

The oil shock of 1973 and the subsequent world recession have drastically demonstrated the weakness of countries dependent on external energy supplies. In the following, Guido Brunner, the competent Member of the Commission of the European Communities, describes the changes we are facing in the energy field and what the Community is doing to face up to them.

     

报告精粹

包容性商业模式开启发展之门 据美国哈佛大学肯尼迪政治学院和国际金融公司的报告《发展包容性的商业模式》，公司可以通过有利润的、负责任的、具有包容性的商业活动和投资来帮助减轻全球贫困问题。报告全面分析了可口可乐公司一项在全球25个国家实施的配送中心模型如何在解决了公司核心业务需要的同时，亦为实现千年发展目标做出了贡献。     

Oil and the economy: evolution not revolution

Oil price shocks have had significant effects on the U.S. economy, keeping energy supply, energy policy, and energy security always in focus. The U.S. energy industry has become more efficient and productive, with increased output despite a smaller energy sector. Since the oil price shocks of the 70s, both the impact of oil price shocks and the way we think about them have changed. The impact of an oil price shock on GDP and core inflation is much smaller in magnitude than in the past and depends on the source of the price shock. The recent shale boom in the U.S. has significantly increased oil production to a record high. The short-cycle supply response of shale producers to price changes have trimmed the peaks and troughs of oil prices in the medium term. The shale boom has lowered our dependence on foreign oil and made us less vulnerable to a classic oil supply shock, but we need to contemplate the vulnerabilities that arise from the externalities of our energy use, which will become more critical as we go forward.     

Technical self-sufficiency,pricing independence: a Penrosean perspective on China’s emergence as a major oil refiner since the 1960s

International embargos and the withdrawal of Soviet technical expertise had by the early 1960s effectively engrained China’s approach to energy and technical self-sufficiency. Chinese officials cited reasons similar to those advanced by Edith Penrose in her critique of the international oil companies’ (IOC’s) investments. Drawing on Penrose’s approach, this article shows that although self-sufficiency led to significant progress in primary capacity, self-sufficiency had to be reconciled with increasing demand for more complex petrochemicals. Modernisation increased China’s reliance on the IOC’s technology and reduced pricing independence, confirming a historical regularity in the market imperfections underpinning the power of the IOCs.     

中国石油战略问题思考和对策分析

目前,中国油气储量、产量有明显的上升,但天然气勘探开发明显滞后于世界其它国家,油气资源消耗中存在五个方面的问题。根据未来油气资源的需求,我国应调整石油消费结构,提高油气资源利用效益;不断提高天然气在我国能源利用的比例;开辟新的油气探区,保障中国海洋石油资源的权益;加强国外油气勘探开发,开展国际石油贸易;加强能源勘探开发、利用相关的立法,建立完善的石油战略储备制度;加强油气新能源的勘探开发和综合利用技术研究,增加油气来源的多元化。     

The expansion of branding in international marketing: The case of olive oil, 1870s–1930s

Abstract

Drawing on a variety of sources, this article investigates the emergence and expansion of branding in the international olive oil markets prior to World War II. It documents the rapid growth of the world trade in packaged olive oil from the 1870s onwards and shows that the main destinations of this consumer-ready product were in the Americas. In this respect, it complements previous findings based on the use of trademark registration figures. The article then argues that the expansion of canned and branded olive oil exports to the New World was the result of three interconnected factors: the mass migration of southern Europeans in the late nineteenth century and the formation of a new market on the other side of the Atlantic; significant transformations in the commodity chain of the product in the Americas during the first third of the twentieth century; and the problems of quality uncertainty and fraud in the emerging New World markets for olive oil. By analysing these factors, this study also provides evidence to further the debate on the purpose of branding and modern marketing.     

俄罗斯能源战略的亚太取向——俄罗斯石油天然气战略的地缘取向

根据俄罗斯推出的国际能源发展战略,俄仍将以能源为杠杆加强其在世界的地位,利用能源因素发展国际合作关系,对能源、经济等问题施加影响。今后俄燃料和能源部门的主要出口战略将倾向于进入亚太地区市场,即开发东西伯利亚和远东地区新油气,拓宽出口渠道,保证石油天然气产品的出口安全。     

Energy and oil in Eastern Europe— Status and prospects

The energy economies of the states in Eastern Europe—East Germany, Poland, Hungary, Czechoslovakia, Bulgaria and Romania—are in a state of transition.¹ This is just one aspect of their overall transition from communism to more liberal political and economic systems. Future developments of the energy sectors in Eastern Europe and the Soviet Union will have important implications for world oil and energy market developments, since these countries comprise, as a group, the world's largest oil and gas producers, and they are the second largest energy consumers in the world.     

The role of oil and gas in China's energy strategy: an overview

China is well endowed with energy resources, having large quantities of coal, oil, gas and hydropower, as well as tremendous solar, wind and biomass energy potential. It even has its own uranium. To date, the country has relied mainly on coal and hydropower to generate its electricity and on oil to power its vehicles. However, with climate change and consequent rising sea levels, increased incidence of drought, intense storms, etc., China, having become the world's largest emitter of CO_2, is under strong international pressure to re-examine its energy strategy and find ways to reduce its carbon emissions. Thus, the government plans to greatly increase its use of natural gas in power generation. Gas emits less than half the CO₂ that coal emits. It is argued here that over the next 20 years, massive imports of gas via pipeline and liquefied natural gas tankers, combined with the development of unconventional gas reserves in the country may partly substitute for the large quantities of coal currently being used to generate electricity, but will not likely completely replace them. As for transport fuels, China, like all other countries, has little choice but to continue relying on oil regardless of whether it is imported or China develops its own large-scale shale oil operations. There is no alternate fuel of the same density available at the same or better price. The use of biofuels and electric/hybrid vehicles will not supplant the use of gasoline or diesel in the near future. Thus, the role of oil and gas in China's energy strategy are set to remain very significant over the next 20 years.     

国际油价与人民币汇率的非对称溢出效应研究--基于VEC-BEKK-GARCH模型

石油作为重要的战略能源,其价格波动对全球经济的运行和发展会产生极大的影响。为测算国际油价与人民币汇率的均衡关系及非对称溢出效应,选取2008年1月~2019年7月的每日数据,在平稳性检验的基础上,综合运用协整检验和脉冲响应函数等方式,对二者的均值溢出效应进行测量;在VECBEKK-GARCH模型的支撑下,对其非对称波动溢出效应水平进行测算。研究结果表明:国际油价与人民币汇率的协整关系和均值溢出效应处于长期均衡状态;二者的非对称波动溢出效应是双向的,国际油价会随人民币汇率的变化呈现出时变性和持续性特征,而国际油价变动具备持续性特征时,人民币汇率随之产生变化。这种非对称波动溢出效应表明,无论国际油价如何变化,对人民币汇率的冲击都是非对称的。     

我国环境质量和能源消费的灰色关联分析

经济发展、环境质量和能源消费互相制约。以2003-2008年我国的主要环境质量指标和能源消费指标数据为依据,用灰色关联分析方法对环境质量和能源消费之间的关系进行研究,结果表明煤炭、原油、汽油、煤油和燃料油对环境的污染比电力和柴油大,可以通过优化能源消费结构来改善我国的环境质量。     

The first wave of the Soviet oil offensive: The Anglo-American Alliance and the flow of ‘Red Oil’ to Finland during the 1950s

During the 1950s, many observers regarded the expansion of Soviet oil exports as a serious threat to Western political and economic interests. Finland was the first non-communist European country that started to buy Soviet oil on a large scale. This made the country vulnerable to Soviet political pressure. An examination of the Finnish case indicates that Anglo-American governments adopted a much more complex attitude towards the emergence of the Soviet Union as an exporter of oil than the Cold War rhetoric would suggest. The US and British governments were not automatically willing to support their oil companies or to try to block Soviet oil exports. Instead of seeing Soviet oil exports to Finland simply as a threat to Western interests, the Foreign Office and the State Department considered the precise implications that Finnish purchases of Soviet oil would have on Western strategic interests on a case-by-case basis. Many other government departments were more interested in promoting their own departmental interests.     

Economic and political risks of world oil markets

The present easing on the world oil market could foster the illusion that energy problems are now resolved. During 1981 various oil-producing countries (OPEC and non-OPEC alike) found they had to cut their prices. OPEC production has had to be reduced by about one-third from the 1979 level of 31 mbd¹. Last September’s OPEC output of 20 mbd was the lowest monthly figure for 12 years and has by year-end 1981 recovered to just 22 mbd. “The OPEC is no longer able to dictate prices; there is more oil than the market can take.” These are typical recent comments, but they reflect too short-term and superficial a view. The real issue is the question whether energy supplies are secure in thelong term, too, and whether energy itself presents a danger for general economic and political developments.     

The importance of the Soviet Union for the fuel supplies of the CMEA countries

The six European member countries of the CMEA depend greatly on imports of energy, and oil and oil products in particular, from the USSR. In the coming years the Soviet Union will, however, probably be unable to satisfy all their import requirements so that they are likely to buy more oil in the world market.     

中亚国家能源政策及对策分析

中亚国家利用其优越的地缘优势和油气资源优势,实施了一系列资源立国政策,极大地推动了该地区国家经济的恢复和发展,引起了世界各国高度关注,同时,也为中国与中亚地区国家的油气资源合作带来了机遇和挑战。对中亚国家能源政策和未来能源发展趋势的分析表明,我国在中亚地区能源（油气资源）战略中应采取相应的应对策略。     

The internationalization of energy supply structures

The World Energy Conference will be held in Munich in mid-September. It will have to deal with diverse and complex problems of energy policy, for the seventies have presented tremendous challenges in the energy field. The control over oil—with 46% of the world supply still by far the most important source of energy—has been reorganized and two oil crises have exposed the flow of supplies to severe disruption and political hazards. As far as can be foreseen, the supply is unlikely to keep abreast of the world-wide rise of energy consumption. To replace the oil gradually will therefore be the major task in the energy field in the coming decades. What will be the supply position between now and the year 2000? And which structural changes will have to be effected?     

国际石油价格变动对浙江省轻纺产品出口的影响

石油是重要的能源,对现代经济生活有着巨大影响。在分析研究国际石油价格变动对浙江省轻纺产品出口影响的基础上,提出了相关应对策略。     

Exchange Controls and Multinational Enterprise: The Sterling–Dollar Oil Controversy in the 1950s

This article describes the impact of exchange control policy on multinational oil companies in the 1950s. The analysis contributes to an understanding of the two-way relationship between MNCs and exchange control policy. While the initial purpose was to curtail the short-term dollar drain, the intention of the policy in the longer term was to overcome the continued payments imbalance between the United States and the United Kingdom by encouraging US firms to establish subsidiaries in the UK. In addition, the balance of payments and British-owned suppliers to the oil industry were helped by the agreements negotiated between the government and American companies which encouraged the latter to source their operations from within the sterling area.