Modeling for the world crude oil and natural gas markets

Crude oil and natural gas have been essential energy sources and play a crucial role in the world economy. Changes in energy prices significantly impact economic growth. This study builds an econometric model to illustrate the substitute relation between crude oil and natural gas markets. Additionally, the determination of the oil and natural gas prices are endogenized, assuming imperfect competition to reflect a real market strategy. Our empirical results show that the overall performance of this system is acceptable, and the model can be applied to policy analysis for determining monetary or energy policy by introducing this model to the more comprehensive system.

Remediation of crude oil contaminated soils by means of bitumen emulsions

Effective remediation of contaminated sites with oils, heavy metals and other chemical agents is one of the most important environmental problems all over the world. Contaminated soils by petroleum from different sites and origins, might contaminate groundwater aquifers and then be spread by rain. Many years and the requirement of remedial techniques may be needed to remediate them. However, previous experiences show the uselessness of these methods for the solution of all problems. As any case of soil contamination is different, specific studies with relevant factors at financial aspects, legal limits and waste and soil characteristics are needed. In this work, a study of the use of bitumen asphalt emulsion to remediate contaminated soils by crude oils is exposed. By means of the soil stabilization technology, using the contaminated soils as aggregates and the tailor made emulsion as binder, the feasibility of the mix application to produce stable and resistant pavements is demonstrated