Date of Award
1-1-2009
Document Type
Masters Thesis
Degree Name
M.A.
Organizational Unit
College of Arts Humanities and Social Sciences
First Advisor
Katherine Freeman, Ph.D.
Second Advisor
Rudiger Von Armin
Third Advisor
Robert Urquhart
Fourth Advisor
Ronald Rizzuto
Keywords
1986 oil price crash, Convenience yield, Crude oil prices, Futures markets, OPEC, Seven sisters, Organization of the Petroleum Exporting Countries
Abstract
In this paper I analyze how various price regimes inherent to different oil industry structures affected crude oil prices in the 20th century. Overall, there are strong relationships between oil prices and the corresponding price regimes. Using an informal approach as well as concepts from economic theory, I also analyze the effects of supply and demand variables including spare capacity, stocks, futures prices, OPEC production, and GDP on crude oil prices from 2002 - 2007. The results of my analysis are fairly consistent with economic theory as they elucidate the consequences of severe underinvestment in the oil industry and price volatility. Additionally, I analyze current oil prices and assess the implications for the oil industry, OPEC, and alternative energy producers.
Publication Statement
Copyright is held by the author. User is responsible for all copyright compliance.
Rights Holder
Brian Patrick Shepherd
Provenance
Received from ProQuest
File Format
application/pdf
Language
en
File Size
144 p.
Recommended Citation
Shepherd, Brian Patrick, "Analyzing the Factors Behind Crude Oil Price Increases from 2002–2007 and the Implications for the Oil Industry: A Non-Technical Assessment" (2009). Electronic Theses and Dissertations. 595.
https://digitalcommons.du.edu/etd/595
Copyright date
2009
Discipline
Economics, Commerce-Business, Economic theory, Economic history