DOI: 10.1016/j.enpol.2020.111491
论文题名: An analysis of the efficiency of the oil refining industry in the OECD countries
作者: Lim C. ; Lee J.
刊名: Energy Policy
ISSN: 03014215
出版年: 2020
卷: 142 语种: 英语
中文关键词: Dynamic panel model
; Efficient frontier
; Markowitz portfolio optimization theory
; Oil refining industry
; Panel data analysis
; Production efficiency
英文关键词: Crude oil price
; Data handling
; Energy utilization
; Financial data processing
; Gasoline
; Gasoline refining
; Information analysis
; Investments
; Site selection
; Tunneling (excavation)
; Crude oil production
; Dependent variables
; Explanatory variables
; Oil-refining industry
; Panel data analysis
; Portfolio optimization
; Renewable energy consumption
; Renewable Energy industries
; Petroleum industry
; crude oil
; efficiency measurement
; empirical analysis
; energy market
; energy use
; OECD
; optimization
; panel data
; refining industry
英文摘要: This study investigated the efficiency of the oil refining industry using the two-stage method of Markowitz portfolio optimization theory and panel data analysis of about 30 OECD countries from 2005 to 2016, which is a new methodology for measuring the efficiency of the oil industry. The oil refining industry's efficiency is derived from the prices of petroleum products (Naphtha, Gasoline, Kerosene, Diesel, and Fuel Oil) using the portfolio theory. The panel data was constructed using the following dependent variables, the crude oil production efficiency, energy consumption, renewable energy consumption, and R&D investment. Using the panel data analysis, empirical analyzes are conducted on how the efficiency of the oil refining industry is affected by explanatory variables. The results show that crude oil production and energy use in OECD countries have a negative effect on the efficiency of the oil refining industry, and consumption of renewable energy and R&D investment have a positive effect. Contrary to conventional perception, the petroleum industry can coexist with the renewable energy industry for sustainable development. © 2020 Elsevier Ltd Citation statistics:
资源类型: 期刊论文
标识符: http://119.78.100.158/handle/2HF3EXSE/167312
Appears in Collections: 气候变化与战略
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作者单位: Technology Management, Economics and Policy Program, Seoul National University, 1, Gwanak-ro, Gwanak-gu, Seoul, 08826, South Korea; Energy Affairs Team, GS Caltex Corporation, 508, Nonhyeon-ro, Gangnam-gu, Seoul, 06141, South Korea
Recommended Citation:
Lim C.,Lee J.. An analysis of the efficiency of the oil refining industry in the OECD countries[J]. Energy Policy,2020-01-01,142