As an active trader in international crude oil and petroleum product markets, Australia＇s human welfare is affected by oil crisis and contagion from the perspectives of economic growth, income inequality, and environ...As an active trader in international crude oil and petroleum product markets, Australia＇s human welfare is affected by oil crisis and contagion from the perspectives of economic growth, income inequality, and environmental sustainability. This paper investigates the impacts of oil price shocks upon Australia＇s gross domestic product （GDP） growth, Gini coefficients, and carbon dioxide emissions per capita from 1970 to 2012 with yearly frequency. Hypotheses concerning whether Australia＇s economic immunity against oil crisis is affected after the deregulation of oil market and whether endogenous oil price shocks account for more variations in human welfare than exogenous oil price shocks are tested. The methodologies include a theoretic model and a series of econometric tests. For the short-run dynamics, oil price is integrated into the model both linearly and non-linearly. Oil price shocks are categorized into exogenous and endogenous shocks. The conclusions are that inflated oil prices exert mainly non-linear negative impacts upon human welfare indicators and exogenous shocks induce endogenous shocks through labor price, Consumer Price Index （CPI）, interest rate, and exchange rate. For the long-run equilibrium, non-linear shocks＇ effects decay more slowly than linear shocks and the impacts of endogenous shocks last longer than that of exogenous shocks. Finally, oil market policies are evaluated and proposed.展开更多
ERIN Lynch and Duncan Collis say they adore the grottoes of Wulong. Erin, an American, is completing a master’s degree in hydrology,while Duncan,an Aussie,used to work in IT before he left it all behind to study grot...ERIN Lynch and Duncan Collis say they adore the grottoes of Wulong. Erin, an American, is completing a master’s degree in hydrology,while Duncan,an Aussie,used to work in IT before he left it all behind to study grottoes.He says his new line of work is a ＂very fulfilling passion.＂展开更多
Australia＇s liquefied natural gas industry~ has been growing rapidly in recent years. As China＇ s natural gas production drops and its demand for clean energy sources, such as natural gas, grows, LNG, as a complemen...Australia＇s liquefied natural gas industry~ has been growing rapidly in recent years. As China＇ s natural gas production drops and its demand for clean energy sources, such as natural gas, grows, LNG, as a complement to piped natural gas, will be an important part of China＇s strategy of ensuring its natural gas consumption. Aware of this market opportunity , China＇s three big national oil companies, CNPC, CNOOC and Sinopec have all inw＇sted in Australia＇s LNG sector. Chinese oil companies are facing multiple challenges in their Australian LNG projects, including strict environmental taws and high labor cost. These companies should strengthen communication with local government to create a good investment environment for LNG projects.展开更多
文摘As an active trader in international crude oil and petroleum product markets, Australia＇s human welfare is affected by oil crisis and contagion from the perspectives of economic growth, income inequality, and environmental sustainability. This paper investigates the impacts of oil price shocks upon Australia＇s gross domestic product （GDP） growth, Gini coefficients, and carbon dioxide emissions per capita from 1970 to 2012 with yearly frequency. Hypotheses concerning whether Australia＇s economic immunity against oil crisis is affected after the deregulation of oil market and whether endogenous oil price shocks account for more variations in human welfare than exogenous oil price shocks are tested. The methodologies include a theoretic model and a series of econometric tests. For the short-run dynamics, oil price is integrated into the model both linearly and non-linearly. Oil price shocks are categorized into exogenous and endogenous shocks. The conclusions are that inflated oil prices exert mainly non-linear negative impacts upon human welfare indicators and exogenous shocks induce endogenous shocks through labor price, Consumer Price Index （CPI）, interest rate, and exchange rate. For the long-run equilibrium, non-linear shocks＇ effects decay more slowly than linear shocks and the impacts of endogenous shocks last longer than that of exogenous shocks. Finally, oil market policies are evaluated and proposed.
文摘ERIN Lynch and Duncan Collis say they adore the grottoes of Wulong. Erin, an American, is completing a master’s degree in hydrology,while Duncan,an Aussie,used to work in IT before he left it all behind to study grottoes.He says his new line of work is a ＂very fulfilling passion.＂
文摘Australia＇s liquefied natural gas industry~ has been growing rapidly in recent years. As China＇ s natural gas production drops and its demand for clean energy sources, such as natural gas, grows, LNG, as a complement to piped natural gas, will be an important part of China＇s strategy of ensuring its natural gas consumption. Aware of this market opportunity , China＇s three big national oil companies, CNPC, CNOOC and Sinopec have all inw＇sted in Australia＇s LNG sector. Chinese oil companies are facing multiple challenges in their Australian LNG projects, including strict environmental taws and high labor cost. These companies should strengthen communication with local government to create a good investment environment for LNG projects.
