Is refined oil price regulation a “shock absorber” for crude oil price shocks?

Zhang, Qi; Hu, Yi; Jiao, Jianbin; Wang, Shouyang

doi:10.1016/j.enpol.2022.113369

Cited by 7 publications

(5 citation statements)

References 51 publications

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“…However, the findings are in line with previous and ongoing conducted research, all global crises are influenced positively on the food insecurity, besides the results posed an urgent necessity for strategic planning and international cooperation to secure food supplies and save humanities. Additionally, policymakers can play an essential role in supporting local farmers, ensuring fair trade practices, and promoting sustainable agricultural practices to contribute long term food security problems [ 24 , 36 , 37 , 39 , 41 , 44 ].…”

Section: Results Analysis and Discussionmentioning

confidence: 99%

“…Zhang et al [ 37 ] Investigated the unequal influence of energy prices shocks on welfare, drawing on household data from various developing and developed nations, which collectively represent over 87% of the global population. Analysis revealed that the nonmaterial and material dimensions, “Creation” and “Protection,” respectively, were the most significantly affected needs globally, experiencing declines ranging from 3.7% to 8.5% and 3.6%–8.4%.…”

Section: Literature Reviewmentioning

confidence: 99%

“… Ref Theory Discussed Effective Crises Studied Variables Region/Countries Period of Time Covered Model Used Findings [ 36 ] Food price transmission theory geopolitical events in Russia global energy, and food prices Eastern and Western Europe January 2001 to March 2022 Cross-quantilogram (CQ) approach sophisticated econometric method Geopolitical risks lead to a decrease in short term food prices in Eastern Europe, but conversely, they result in an increase in prices in Western Europe. [ 37 ] Food price transmission theory Keynesian Economics: Russian-Ukrainian (RU) conflict Energy price shocks on wellbeing And eight dimensions of human needs both developed and developing countries (49 countries/regions) Data of 2022 An integrated framework is proposed (to merge the Extended Linear Expenditure System (ELES) model, the output-input price model, and the quantification of basic human needs). The material dimension “Protection” and Non-material dimension “Creation” are the human needs most profoundly impacted on a global scale, witnessing declines ranging from 3.7% to 8.5% and 3.6%–8.4%, respectively.…”

Section: Literature Reviewmentioning

confidence: 99%

See 2 more Smart Citations

The impact of Russo-Ukrainian war, COVID-19, and oil prices on global food security

AL-Rousan,

AL-Najjar,

AL-Najjar

2024

Heliyon

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Section: Results Analysis and Discussionmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

See 1 more Smart Citation

The impact of Russo-Ukrainian war, COVID-19, and oil prices on global food security

AL-Rousan,

AL-Najjar,

AL-Najjar

2024

Heliyon

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“…In addition, the implementation of a carbon tax may increase the price of energy and products, adversely affecting low‐income households and energy‐intensive industries (Guan et al., 2023). Furthermore, the implementation of a carbon tax has the potential to result in a rise in the cost of energy‐related commodities, consequently constraining household spending and impacting the overall welfare of individuals (Zhang et al., 2023). Hence, the adoption of a carbon tax policy necessitates the incorporation of certain social security measures aimed at alleviating the negative consequences.…”

Section: Discussionmentioning

confidence: 99%

Consumption‐Based Carbon Emissions of 85 Federal Entities in Russia

Li,

Wang,

Wang

et al. 2024

Earth's Future

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As the fourth largest CO2 emitter, Russia's constituent entities collectively contribute with vast territory and regional heterogeneity. Existing studies only present production‐based inventories; state‐level consumption‐based emissions patterns and driving forces remain rare. Here, we built the Russia state‐level Multi‐regional input‐output table to ascertain heterogeneity in consumption‐based emissions and track carbon flows in the inter‐state. We found that 60% of consumption‐based emissions coming from affluent areas (top 20% of the GRP), including Moscow (139.1 Mt) and St. Petersburg (50.5 Mt). Energy‐intensive regions also had huge consumption‐based emissions (31.6 Mt in Khanty‐Mansi Autonomous Okrug and 29.4 Mt in Republic of Tatarstan). Household consumption emissions accounted for 41%–73% of consumption‐based emissions in the 83 regions, except for Tula and Lipetsk, where fixed capital formation dominated. In addition, the major contributor of embodied emissions in households were power and services sectors, which contributed about 8%–61% (0.03 Mt–12.7 Mt) and 12%–40% (0.1 Mt–20.1 Mt). In Russia's low carbon transition, policymakers should not only focus on a local mitigation policy in developed states (such as Moscow and St. Petersburg), but on key sectors to curb the consumption. Regions with high carbon intensity should switch to renewable energy and implement cleaner production techniques in high‐emission industries.

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“…Chen et al explored the asymmetry of responses to refined oil prices in China using daily panel data to introduce trade and price regulation [25]. Zhang et al explored how, in the long run, controls on refined oil prices should be gradually released, and the market price of refined oil should gradually be formed to reflect the relationship between supply and demand [26].…”

Section: Qualitative Researchmentioning

confidence: 99%

Research on the Effect of Marketization Reform on the Price of Aviation Kerosene in China

Cao,

Li,

Meng

et al. 2024

Sustainability

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The development of the aviation industry relies heavily on stable kerosene prices, and price fluctuations have an impact on its economic sustainability. To explore the effect of China’ s implementation of market-oriented reform of aviation kerosene prices, our study aims to evaluate the dynamic correlation between China’s aviation kerosene prices and Singapore’s CIF price, supply and demand, domestic economic development level and other market-oriented factors. To this end, in this paper, monthly data from 2006 to 2019 were selected for the variables mentioned above and, based on multiple econometric techniques, the influence of market factors on the price of aviation kerosene in China was studied. The empirical results confirm that the current Chinese aviation kerosene price has a significant linking effect with the CIF price of Singapore’s imports and is affected by the level of domestic demand. China’s aviation kerosene price is more affected by international oil and gas market factors relative to fundamental factors in the domestic market. The long- and short-term Granger causality test results also show that the market-oriented reform of China’s aviation kerosene field is beginning to take effect. Finally, the article discusses and puts forward suggestions for promoting China’s market-oriented price reform for refined oil products and the sustainable development of the aviation industry.

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Is refined oil price regulation a “shock absorber” for crude oil price shocks?

Cited by 7 publications

References 51 publications

The impact of Russo-Ukrainian war, COVID-19, and oil prices on global food security

The impact of Russo-Ukrainian war, COVID-19, and oil prices on global food security

Consumption‐Based Carbon Emissions of 85 Federal Entities in Russia

Research on the Effect of Marketization Reform on the Price of Aviation Kerosene in China

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