Geochemical exploration in the Montseny Mountains (NE Spain)

A five year program of systematic multi-element geochemical exploration of the Catalonian Coastal Ranges has been initiated by the Geological Survey of Autonomic Government of Catalonia (Generalitat de Catalunya) and the Department of Geological and Geophysical Exploration (University of Barcelona). This paper reports the first stage results of this regional survey, covering an area of 530 km2 in the Montseny Mountains, NE of Barcelona (Spain). Stream sediments for metals and stream waters for fluoride were chosen because of the regional characteristics. Four target areas for future tactic survey were recognized after the prospect. The most important is a 40 km* zone in the Canoves-Vilamajor area, with high base metal values accompanied by Cd, Ni, Co, As and Sb anomalies. Keywords: Catalanides. Geochemical exploration. Stream sediments. Base metal anomalies. Principal Component Analysis.

Prospección geoquímica de flúor en las aguas superficiales del macizo Montseny (Barcelona y Girona)

En el Macizo Montseny-Guilleries se conocen antiguas explotaciones de fluorita y fluorita-baritina (Osor, Tagamanent, Espinelves, Sant Marcal, etc). Es por el1o que se ha utilizado el método de prospección geoquímica de flúor en aguas superficiales para detectar posibles zonas de interés hasta ahora desconocidas.

A detailed stream sediment Geochemical survey in the Canoves St. Pere de Vilamajor area (Montseny massif. NE Spain)

Se ha realizado una prospección geoquímica táctica de sedimentos aluviales en el Brea de Cánoves-St. Pere de Vilamajor (Macizo del Montseny, Barcelona), como consecuencia de una exploración geoquimica estratégica de sedimentos aluviales previa, en la que se localizó un Brea anómala en Pb, Zn, Cu, As, Cd, Ni, y Co. El Brea estudiada tiene 35 km2 y esta constituida por materiales sedimentarios y volcánicos del Paleozoico, metamorfizados en mayor o menor grado e intruidos por el granito de Vallfornés, y materiales detríticos terciarios...

Fluid flow processes at basin scale

S u b s u r face fluid flow plays a significant role in many geologic processes and is increasingly being studied in the scale of sedimentary basins and geologic time perspective. Many economic resources such as petroleum and mineral deposits are products of basin scale fluid flow operating over large periods of time. Such ancient flow systems can be studied through analysis of diagenetic alterations and fluid inclusions to constrain physical and chemical conditions of fluids and rocks during their paleohy d r og e o l ogic evolution. Basin simulation models are useful to complement the paleohy d r og e o l ogic record preserved in the rocks and to derive conceptual models on hydraulic basin evolution and generation of economic resources. Different types of fluid flow regimes may evo l ve during basin evolution. The most important with respect to flow rates and capacity for transport of solutes and thermal energy is gr avitational fluid flow driven by the topographic configuration of a basin. Such flow systems require the basin to be elevated above sea level. Consolidational fluid flow is the principal fluid migration process in basins below sea level, caused by loading of compressible rocks. Flow rates of such systems are several orders of magnitude below topogr a p hy driven flow. Howeve r, consolidation may create significant fluid ove rpressure. Episodic dewatering of ove rpressured compart m e n t s m ay cause sudden fluid release with elevated flow velocities and may cause a transient local thermal and chemical disequilibrium betwe e n fluid and rock. This paper gives an ove rv i ew on subsurface fluid flow processes at basin scale and presents examples related to the Pe n e d è s basin in the central Catalan continental margin including the offshore Barcelona half-graben and the compressive South-Pyrenean basin.

Geometria y depositos de las cubetas glaciolacustres del Pirineo

Mediante la combinación de métodos geomorfológicos y sondeos eléctricos, se han estudiado 6 cubetas lacustres cuaternarias de origen glacial en el Pirineo. Esterri d'Aneu, Benasque y Bono son unos claros ejemplos de cubetas de sobreexcavación glacial. El Seminari de Vilaller constituye un ambiente lacustre proglacial debido a un cierre morrénico. El lago de Taüll como ejemplo de un ambiente lacustre yuxtaglacial debido también a una obturación morrénica y la laguna de Les Basses d'Ules, en el valle de Arán, formada a partir de procesos de fracturación del substrato rocoso después de la retirada del glaciar del Garona. Debido al elevado contraste entre la resistividad de los diferentes materiales cuaternarios de recubrimiento y el substrato rocoso, se ha podido determinar mediante sondeos eléctricos el espesor del cuaternario y diferenciar las diversas formaciones que lo constituyen. En general, aparecen 3 formaciones cuaternarias sobre el substrato rocoso paleowico: una unidad glaciolacustre que es relativamente conductora, una unidad fluviodeltaica de resistividad variable pero con valores más elevados que la anterior, y una unidad superior de resistividades muy variables según la cubeta y que, en general, es más resistente. La potencia del relleno cuaternario es muy variable según la cubeta. Así encontramos espesores de más de 300 metros de media en la cubeta de Esterri d'Aneu y de tan solo unos pocos metros en Les Basses d'Ules.

Estudio geoeléctrico de la depresión de la Selva (Girona)

Mediante la interpretación de una campaña de sondeos eléctricos se caracterizan las resistividades del Neogeno de la depresión de La Selva así como su potencia. En general estas resistividades están comprendidas entre 10 y 30 0hm.m característicos, en general, de formaciones predominantemente arcillosas. La presencia de materiales arcósicos y de basaltos en el Plioceno se caracteriza por resistividades superiores. El mapa de isobatas del basamento resistivo paleozoico muestra la irregularidad del fondo de la cubeta, destacando zonas deprimidas con potencias de sedimentos neógenos de más de 300 m separadas por umbrales en 1os que el basamento está a muy poca profundidad.

Prospección sísmica en el Glaciar Johnsons, Isla Livingston (Antártida). (campañas antárticas 1996-1997 y 1997-1998)

Durante las campañas antárticas de 1996-97 y 1997-98, se realizaron en el glaciar Johnsons (Isla Livingston, A n t á rtida) cinco perfiles sísmicos de refracción (con un total de 2.685 m longitud) y dos perfiles de reflexión (2.980 m longitud) con el objetivo de obtener i n f o rmación sobre el grosor del hielo y la topografía del basamento. En cuanto a la sísmica de refracción, se presenta como un método e ficaz para la obtención del espesor y de la velocidad del hielo, mientras que se propone la sísmica de reflexión como la técnica más adecuada para obtener información sobre la morfología de la cubeta glacial y el contacto hielo-roca. Los resultados aportados por los anteriores métodos se han completado con un análisis minucioso de los datos de campo (estudio del frente de ondas) obteniéndose la localización de sectores con fracturas (grietas) y pudiéndose distinguir áreas de distintas características glaciológicas (zonas de acumulación y ablación). Este conocimiento de la estructura interna del glaciar mediante prospección sísmica junto con otros datos glaciológicos permitirá modelizar la dinámica del flujo del glaciar Johnsons.

Fiscal sustainability and fiscal shocks in a dollarized and oil-exporting country: Ecuador

This paper investigates the fiscal sustainability of an emerging, dollarized, oil-exporting country: Ecuador. A cointegrated VAR approach is adopted in testing, first, if the intertemporal budget constraint is satisfied in Ecuador and, second, in identifying the permanent and transitory shocks that affect a fiscal policy characterized by inertia and a heavy dependence on oil revenues. Following confirmation that the debt-GDP ratio does not place the Ecuadorian budget under any pressure, we reformulate the model and identify two forces that push the fiscal system out of equilibrium, namely, economic activity and oil revenues implemented in the government budget. We argue that Ecuador needs to recover control of its monetary policy and to promote the diversification of its economy in order that non-oil tax revenues can replace oil revenues as a pushing force. Finally, we calculate quarterly elasticities of tax revenues with respect to Ecuador’s GDP and that of eight Eurozone countries. We illustrate graphically how the Eurozone countries with low positive or high negative elasticities’ levels suffer debt problems after the crisis. This finding emphasizes the pressing need for Ecuador to strengthen the connection between its tax revenues and output, and also suggests that the convergence of these elasticities in the Eurozone might contribute to the success of an eventually future fiscal union.

One more lie: the Monday effect in Spain’s retail petrol market

Empirical evidence drawn from the economic literature points to a low level of competition in the retail petrol market. Similar evidence can be found for the Spanish market. In fact, both Spain’s antitrust authority -Comisión Nacional de la Competencia- and its energy regulator -Comisión Nacional de la Energía- have recently initiated disciplinary proceedings against the majors on the grounds of suspected price manipulation in the retail petrol market. They are accused of cutting retail prices on Mondays so as to distort the rank position of Spain in European Union statistics in a practice that has received the name of the Monday effect. Here, we analyze this effect by constructing a database that includes daily retail prices for all petrol stations in Spain in the period 2009-2012, and a more detailed database for the city of Barcelona in 2013. Our estimations confirm that: 1- in 2011 and 2012 prices fell on Mondays at retailers branded by majors; 2- prices were unchanged at stations in our two control groups; 3- prices were also seen to fall when a more detailed analysis was conducted, and this price cut was also found in 2013. In short, one more indicator of collusion in this sector and … one more lie.

Mergers and difference-in-difference estimator : why firms do not increase prices?

Difference-in-Difference (DiD) methods are being increasingly used to analyze the impact of mergers on pricing and other market equilibrium outcomes. Using evidence from an exogenous merger between two retail gasoline companies in a specific market in Spain, this paper shows how concentration did not lead to a price increase. In fact, the conjectural variation model concludes that the existence of a collusive agreement before and after the merger accounts for this result, rather than the existence of efficient gains. This result may explain empirical evidence reported in the literature according to which mergers between firms do not have significant effects on prices.

Vertical relations and local competition : an empirical approach

The analysis of vertical industry relations forms an essential element in the field of industrial organization. This paper tests hypotheses derived from transaction cost theory and the principal-agent problem in Chile’s petrol market. It shows that local competition plays an important role in the choice of a disintegrated vertical structure, and that low levels of service investment have the same effect. Conversely, the number of own-brand outlets and a high level of investment in services reduce the probability of disintegration. The paper demonstrates that vertical disintegration has a null effect on wholesale petrol prices and a positive effect on retail petrol prices of between 1.6 and 7 per cent, depending on fuel type.

Symmetric or asymmetric gasoline prices? A meta-analysis approach

The analysis of price asymmetries in the gasoline market is one of the most studied in the energy economics literature. Nevertheless, the great variability of results makes it very difficult to extract conclusive results on the existence or not of asymmetries. This paper shows through a meta-analysis approach how the industry segment analysed, the quality and quantity of data, the estimator and the model used may explain this heterogeneity of results.