Energy markets

Ghana and Its Newfound Oil: Can It Use the Alaska Model to Avoid the Resource Curse?

Economics, Energy markets, Liberty, Politics / By

Michael Giberson A discovery of significant amounts of oil in Ghana has inspired a great deal of inquiry into how the country can avoid falling victim to the “resource curse,” the surprisingly low levels of economic development and weakening of political and social institutions sometimes associated with discovery and exploitation of valuable natural resources. In …

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Take-or-Pay Contracts: Lessons from Brazil and Bolivia

Economics, Energy markets / By

Michael Giberson Yesterday’s post on the Gazprom take-or-pay contract dispute mentions a now classic article by Scott Masten and Keith Crocker, “Efficient adaptation in long-term contracts: Take-or-pay provisions for natural gas” (American Economic Review, 1985).  You may wonder if there is newer work on take-or-pay contracting potentially relevant to the case of Gazprom and its …

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Gazprom, Europe, and Long-Term Take-or-Pay Contracts

2 Comments / Economics, Energy markets, Regulation / By

Michael Giberson Shifting world natural gas supply conditions have put the squeeze on long-term gas supply contracts between Russian gas giant Gazprom and its European customers.  A summary from the Wall Street Journal: European energy companies, faced with weakening demand and plentiful lower-cost fuel supplies, have bought far less natural gas from Russia’s OAO Gazprom …

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Calling the Next Bubble: is There Currently a “Dollar-Led Asset Bubble”?

1 Comment / Economics, Energy markets / By

Michael Giberson The list of people who agreed, after the fact, that yes there was a {internet company | real estate | … | tulip bulb} price bubble is frequently longer than the list of people who publicly announce a bubble in unequivocal terms in advance of a crash.  But here you have someone willing …

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Unfair Prices and Moral Progress

2 Comments / Economics, Energy markets / By

Michael Giberson Unfair Prices Daniel Little, at Understanding Society, asks about “Fair Prices?”  In exploring the topic he draws some upon E.P. Thompson’s studies of the English working class: E. P. Thompson’s work on early modern Britain reminds us that there was a “moral economy of the crowd” that profoundly challenged the legitimacy of the …

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Attorneys General in Virginia and North Carolina Continue to Prosecute Hurricane Ike Price Gouging Cases

2 Comments / Energy markets, Politics / By

Michael Giberson Another few price gouging cases settled by the Attorneys General of Virginia and North Carolina arising from complaints filed during Hurricane Ike in September 2008.  From North Carolina, via the AG’s press release: Cooper filed suit in October of 2008 against Steve Compton, owner and manager of Tire Pro, also known as Troy …

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Power Consumers in New York and New England Markets Rely on Imports from Canada

1 Comment / Electricity, Energy markets / By

Michael Giberson Power consumers in New York and New England markets rely on imports from Canada, so they may be interested in discussions between Quebec and New Brunswick that would give Quebec more control over power delivered from Eastern Canada into the Northeastern United States. The Globe and Mail reports: Quebec and New Brunswick are …

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External Costs of Energy Production, Auditing the Energy Star Program, and More

1 Comment / Electricity, Energy markets / By

Michael Giberson NewsWatch:Energy puts together a pretty good list of energy links, today noting the National Research Council’s new “Hidden costs of energy: Unpriced consequences of energy production and use.” (Surprise: coal looks bad. But note that much of the harm arises from a small number of coal-fueled generators.  The rest of the coal-burners are …

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