Investment and oil price volatility

In this note, we consider the relationship between oil price volatility and firm returns for 560 firms listed on the New York Stock Exchange. Using daily time series data from 2000 to 2008, we find that oil price volatility increases firm returns for the majority of the firms in our sample.

Absorbance of retinal oil droplets of the budgerigar : sex, spatial and plumage morph-related variation

Intraspecific variation in photoreceptor physiology is known in several vertebrate taxa, but is currently unknown in birds, despite many avian traits varying intraspecifically, and avian visual ecology encompassing a wide range of environments and visual stimuli, which might influence spectral sensitivity. Avian retinal photoreceptors contain light absorbing carotenoid-rich oil droplets that affect vision. Carotenoids are also important plumage components. However, our understanding of the regulation of carotenoids in oil droplets remains rudimentary. Among birds, Melopsittacus undulatus has probably the best-studied colour vision, shows profound intraspecific variation in plumage colour, and increased plasma carotenoids during moult. We used microspectrophotometry to determine whether a relationship exists between oil droplet carotenoid concentration and plumage pigmentation, and tested for sex and spatial variation in droplet absorbance across the retina. Absorbance of one variety of P-type droplets was higher in males. No relationship was found between droplet absorbance and plumage colour. We found a spatial pattern of droplets absorbance across the retina that matched a pattern found in another parrot, and other avian species. Our work provides insights into the development and maintenance of retinal oil droplets and suggests a common mechanism and function for carotenoid deposition in the retina across bird species.

Effects of Dietary Vitamin B6 Supplementation on Fillet Fatty Acid Composition and Fatty Acid Metabolism of Rainbow Trout Fed Vegetable Oil Based Diets

Fish oil replacement in aquaculture feeds results in major modifications to the fatty acid makeup of cultured fish. Therefore, in vivo fatty acid biosynthesis has been a topic of considerable research interest. Evidence suggests that pyridoxine (vitamin B₆) plays a role in fatty acid metabolism, and in particular, the biosynthesis of LC-PUFA has been demonstrated in mammals. However, there is little information on the effects of dietary pyridoxine availability in fish fed diets lacking LC-PUFA. This study demonstrates a relationship between dietary pyridoxine supplementation and fatty acid metabolism in rainbow trout. In particular, the dietary pyridoxine level was shown to modulate and positively stimulate the activity of the fatty acid elongase and Δ-6 and Δ-5 desaturase enzymes, deduced by the whole-body fatty acid balance method. This activity was insufficient to compensate for a diet lacking in LC-PUFA but does highlight potential strategies to maximize this activity in cultured fish, especially when fish oil is replaced with vegetable oils.

Short-term food deprivation before a fish oil finishing strategy improves the deposition of n-3 LC-PUFA, but not the washing-out of C18 PUFA in rainbow trout

This study aimed to test the hypothesis that the efficiency of a finishing period can be improved by reducing the initial fat content of fish fillets, by means of a period of food deprivation. Two groups of rainbow trout (Oncorhynchus mykiss) were fed for an 18-week grow-out period on a vegetable oil-based diet (VO) or a fish oil-based diet (FO). VO fed fish were then split into two sub groups: one (VO/FO) was shifted to the FO diet for 8 weeks, whilst the other (UF/FO) was deprived of food (unfed) for 2 weeks and then fed the FO diet for the remaining 6 weeks. The control treatment (FO/FO) was represented by fish continuously fed FO. The subsequent reduction of total fat in the UF/FO treatment was then responsible for a much faster recovery towards a FO-like fatty acid profile, validating the proposed hypothesis. However, the modification of the fatty acid composition of fish fillets during the feed withholding period, coupled with the postponement of the finishing diet, resulted in only minor beneficial effects of this strategy, and the loss of potential weight gain. However, the n-3 LC-PUFA content in UF/VO fish fillets was significantly higher than fish subjected to the VO/FO treatment.

Quantitative determination of fatty acid compositions in micro-encapsulated fish-oil supplements using Fourier transform infrared (FTIR) spectroscopy

The research describes a rapid method for the determination of fatty acid (FA) contents in a micro-encapsulated fish-oil (μEFO) supplement by using attenuated total reflection Fourier transform infrared (ATR-FTIR) spectroscopic technique and partial least square regression (PLSR) analysis. Using the ATR-FTIR technique, the μEFO powder samples can be directly analysed without any pre-treatment required, and our developed PLSR strategic approach based on the acquired spectral data led to production of a good linear calibration with R^₂ = 0.99. In addition, the subsequent predictions acquired from an independent validation set for the target FA compositions (i.e., total oil, total omega-3 fatty acids, EPA and DHA) were highly accurate when compared to the actual values obtained from standard GC-based technique, with plots between predicted versus actual values resulting in excellent linear fitting (R² ⩾ 0.96) in all cases. The study therefore demonstrated not only the substantial advantage of the ATR-FTIR technique in terms of rapidness and cost effectiveness, but also its potential application as a rapid, potentially automated, online monitoring technique for the routine analysis of FA composition in industrial processes when used together with the multivariate.

Echium oil provides no benefit over linseed oil for (n-3) long-chain PUFA biosynthesis in rainbow trout

The implementation of alternative lipid sources for use in aquaculture is of considerable interest globally. However, the possible benefit of using stearidonic acid (SDA)–rich fish oil (FO) alternatives has led to scientific confusion. Two hundred and forty rainbow trout (Oncorhynchus mykiss) were fed 1 of 4 diets (3 replicate tanks/treatment) containing either FO, linseed oil (LO), echium oil, or mixed vegetable oil (72% LO, 23% sunflower oil, and 6% canola oil) as the dietary lipid source (16.5%) for 73 d to investigate the competition and long-chain PUFA (LC-PUFA) biosynthesis between the fatty acid substrates α-linolenic acid (ALA) and SDA. SDA was more efficiently bioconverted to LC-PUFA compared with ALA. However, when the dietary lipid sources were directly compared, the increased provision of C18 PUFA within the LO diet resulted in no significant differences in (n-3) LC-PUFA content compared with fish fed the other diets. This study therefore shows that, rather than the previously speculated substrate competition, the limiting process in the apparent in vivo (n-3) LC-PUFA biosynthesis appears to be substrate availability. Rainbow trout fed the SDA- and ALA-rich dietary lipid sources subsequently had similar significant reductions in (n-3) LC-PUFA compared with fish fed the FO diet, therefore providing no additional dietary benefit on (n-3) LC-PUFA concentrations.

New crevice corrosion testing method and its use in the investigation of oil stain

A new electrochemical method was developed to investigate crevice corrosion and its inhibitors. A wire beam electrode was used to allow electrochemical parameters to be measured directly from the crevice area. As an example, oil stain was investigated using this method.

Effects of clove oil on the stress response of matrinxã (Brycon cephalus) subjected to transport

Fish transport is one of the most stressful procedures in aquaculture facilities. The present work evaluated the stress response of matrinxã to transportation procedures, and the use of clove oil as an alternative to reduce the stress response to transport in matrinxã (Brycon cephalus). Clove oil solutions were tested in concentrations of 0, 1, 5 and 10 mg/L during matrinxã transportation in plastic bags, supplied with water and oxygen as the usual field procedures in Brazil. Clove oil reduced some of the physiological stress responses (plasma cortisol, glucose and ions) that we measured. The high energetic cost to matrinxã cope with the transport stress was clear by the decrease of liver glycogen after transport. Our results suggest that clove oil (5 mg/l) can mitigate the stress response in matrinxã subjected to transport.

Volunteering in a school kitchen garden program : cooking up confidence, capabilities and connections!

This paper reports on the evaluation of a kitchen garden program in primary schools in Victoria, Australia. It focuses on the motivations, impacts, and issues associated with volunteering in the program. The study revealed that volunteers are drawn from a range of sources, including: families of current and former students, former teachers, local residents, clients of aged care and/or disability services, other schools and communities, local universities, community organizations, the community services sector, and the corporate sector. Benefits to volunteers included: opportunities to use time productively, an increased sense of belonging, learning opportunities, and an increased sense of self-worth and enjoyment. For schools, volunteers enhanced engagement between the school and the local community, enabled them to engage more effectively with hard to reach groups, and increased student engagement. In addition, the involvement of volunteers improved the sustainability of the program, improved communication between teachers and families of students from minority ethnic groups, and gave students the chance to relate to new people, to learn from their experience and to have fun in working with the volunteers. Perhaps the most telling benefits to flow both to students and to volunteers were not the “three Rs—reading, w’riting and a’rithmetic” but the three Cs—confidence, capabilities, and connections. However, a clearly identified issue was the importance of matching volunteers’ motivations and needs with the roles they play to sustain current levels of volunteering and, therefore, the program itself.