The role of the terms of trade in the trade channel of transmission of oil price shocks

This paper highlights the role of the terms of trade in the trade channel of propagation of oil price shocks both empirically and theoretically. Empirically, I show that oil price shocks have a large, persistent and statistically significant impact on the US terms of trade. Theoretically, I add oil in the model by Corsetti and Pesenti (2005) and analyse under what conditions the terms of trade plays a relevant role in the international transmission of oil price shocks. With nominal price rigidities and full exchange rate pass-through positive oil price shocks depreciate the currency of the oil importing country. The subsequent negative wealth effect adds to the recessive effect of the supply channel and may trongly reduce the consumption in the oil importing country economy. Without exchange rate pass-through oil shocks transmit to the economy only through the supply channel. The model suggests that a change in the exchange rate pass-through might contribute to explain the evidence of a weaker impact of oil price shocks on the macroeconomic activity in recent times.

Growth in an oil abundant economy: The case of Venezuela

This paper has been presented at DEGIT-X held in México 2005.-- Revised: 2008-08.

膨胀岩中油井套管力学响应分析

针对存在混凝土衬砌与否两种情况,对油井套管 ? 膨胀围岩体系进行了三维轴对称有限元分析.结果表明,在围岩产生的膨胀压力下,存在混凝土衬砌时,径向位移最大值发生于混凝土衬砌与膨胀岩交界处;没有混凝土衬砌时,径向位移最大值在油井套管与膨胀岩的交界处.故完好的混凝土衬砌能明显地减缓膨胀岩对油管套管的挤压作用.在围岩膨胀压力下,油井套管容易发生颈缩现象.

Can the change in the composition of the US GDP explain the Great Moderation? A test via oil price shocks

The paper investigates whether the growing GDP share of the services sector can contribute to explain the great moderation in the US. We identify and analyze three oil price shocks and use a SVAR analysis to measure their economic impact on the US economy at both the aggregate and the sectoral level. We find mixed support for the explanation of the great moderation in terms of shrinking oil shock volatilities and observe that increases (decreases) in oil shock volatilities are contrasted by a weakening (strengthening) in their transmission mechanism. Across sectors, services are the least affected by any oil shock. As the contribution of services to the GDP volatility increases over time, we conclude that a composition effect contributed to moderate the conditional volatility to oil shocks of the US GDP.

Cruise Report 69-S-3: Pelagic fish and trawling survey of Santa Barbara oil spill

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Effect of Pipe Diameter on Flow Pattern Transition in Vertical Oil Water Flows

This paper investiges the effect of pipe diameter on flow pattern transition boundary in oil water vertical flows, and proposes a model to determine the maximum inner diameter (D_{infty s}) of a pipe in which the slug flow would not occur When pipe inner diameter D>D_{infty s}, only bubble flow exists, while D

Multiphase Flow Measurement in the Offshore Oil Industry

In recent years, considerable research has been conducted into the development of a three-phase flowmeter suitable for use in an offshore environment, and oil/gas/water three-phase metering becomes an important aspect in multiphase flow measurement. This paper discusses the importance of three-phase flow measurement in offshore oil industry, describes the current development in this area, and points out the principal strategies which may be used to meter three-phase flow.

Hydrocarbon sensors for oil spill prevention and response, Seward, Alaska, April 8th-10th, 2008: workshop proceedings

During April 8th-10th, 2008, the Aliance for Coastal Technology (ACT) partner institutions, University of Alaska Fairbanks (UAF), Alaska SeaLife Center (ASLC), and the Oil Spill Recovery Institute (OSRI) hosted a workshop entitled: "Hydrocarbon sensors for oil spill prevention and response" in Seward, Alaska. The main focus was to bring together 29 workshop participants-representing workshop managers, scientists, and technology developers - together to discuss current and future hydrocarbon in-situ, laboratory, and remote sensors as they apply to oil spill prevention and response. [PDF contains 28 pages] Hydrocarbons and their derivatives still remain one of the most important energy sources in the world. To effectively manage these energy sources, proper protocol must be implemented to ensure prevention and responses to oil spills, as there are significant economic and environmental costs when oil spills occur. Hydrocarbon sensors provide the means to detect and monitor oil spills before, during, and after they occur. Capitalizing on the properties of oil, developers have designed in-situ, laboratory, and remote sensors that absorb or reflect the electromagnetic energy at different spectral bands. Workshop participants identified current hydrocarbon sensors (in-situ, laboratory, and remote sensors) and their overall performance. To achieve the most comprehensive understanding of oil spills, multiple sensors will be needed to gather oil spill extent, location, movement, thickness, condition, and classification. No single hydrocarbon sensor has the capability to collect all this information. Participants, therefore, suggested the development of means to combine sensor equipment to effectively and rapidly establish a spill response. As the exploration of oil continues at polar latitudes, sensor equipment must be developed to withstand harsh arctic climates, be able to detect oil under ice, and reduce the need for ground teams because ice extent is far too large of an area to cover. Participants also recognized the need for ground teams because ice extent is far too large of an area to cover. Participants also recognized the need for the U.S. to adopt a multi-agency cooperation for oil spill response, as the majority of issues surounding oil spill response focuses not on the hydrocarbon sensors but on an effective contingency plan adopted by all agencies. It is recommended that the U.S. could model contingency planning based on other nations such as Germany and Norway. Workshop participants were asked to make recommendations at the conclusion of the workshop and are summarized below without prioritization: *Outreach materials must be delivered to funding sources and Congressional delegates regarding the importance of oil spill prevention and response and the development of proper sensors to achieve effective response. *Develop protocols for training resource managers as new sensors become available. *Develop or adopt standard instrument specifications and testing protocols to assist manufacturers in further developing new sensor technology. *As oil exploration continues at polar latitudes, more research and development should be allocated to develop a suite of instruments that are applicable to oil detection under ice.

Studies on the nutrition of brackish water catfish - Chrysichthys nigrodigitatus . 1. Preliminary investigations on the probable use of vegetable oil in catfish feeds

Four groups of brackishwater catfish were fed four diets: N.F. (NIOMR formula 1 feed), A. B. and C. for seven weeks. Feeds N.F., A., B and C. contained 1.21% fish oil + 5.59% vegetable oil; 1.21% fish oil + 7.39% vegetable oil; 1.21% fish oil + 9.09% vegetable oil; 1.21% fish oil + 10.89% vegetable oil respectively. Results of feeding trial showed that growth was best in the group fed diets containing 10.89% vegetable oil and least in those containing 9.09% vegetable oil