Oil prices and economic activity in Greece

The paper studies the relationship between oil prices and economic activity in Greece during the period 1982:1–2008:8. Different empirical methods are used to estimate whether oil price changes affect asymmetrically the economic activity. A regime-switching model (RS-R) and a threshold regression modeling (TA-R) are applied which have the advantage to capture the dependence structure of the series both in terms of constant and variance. The empirical evidence suggests that the degree of negative correlation between oil prices and economic activity strengths during periods of rapid oil price changes and high oil price change volatility.     

Oil price shocks and stock market returns of the GCC countries: empirical evidence from quantile regression analysis

This paper examines the effects of oil price shocks on the stock market returns of the Gulf Cooperation Council countries. The empirical method used is quantile regression analysis. In addition, we allow for structural breaks and asymmetry by differentiating between positive and negative oil price changes. Unlike OLS analysis, quantile regression allows the coefficient estimates to vary throughout the distribution of the dependent variable, which provides a complete picture of the relationship between the explanatory variables and the dependent variable. Our results suggest that the coefficient estimates have not been constant throughout the distribution of stock returns; that oil price shocks have asymmetrical effects on stock returns; and that the effects of oil price shocks on stock market returns are affected by stock market conditions. Overall, the results suggest that rising oil prices increase stock returns only when stock markets are bullish (high quantiles) and normal (medium quantiles), and that falling oil prices lower stock returns only when stock markets are bearish (low quantiles) and normal (medium quantiles). This suggests that oil and stock markets are more likely to boom together or crash together.     

二十碳五烯酸和二十二碳六烯酸与小鼠攻击行为的相关性

目的 研究小鼠脑内二十碳五烯酸(eicosapentaenoic acid,EPA)和二十二碳六烯酸(docosahexaenoicacid,DHA)含量对小鼠攻击行为的影响.方法 将雄性昆明小鼠72只随机分为对照组、鱼油组、辛伐他汀组和攻击参照组,每组18只.前3组严格隔离饲养,分别灌服生理盐水、深海鱼油和辛伐他汀3...     

论油污损害赔偿的法律适用

针对海洋油污问题,国际社会先后制定了若干国际公约,这些公约在充分赔偿污染受害人和修复海洋环境方面发挥着重要作用。就油污损害赔偿而言,公约与公约之间的选择适用、公约与国内法之间的选择适用,尤其是中国沿海油污损害赔偿的法律适用以及公约体制之外不同法域之间法律的选择适用对确定责任人及赔偿范围等问题至关重要。     

Oil price changes and stock market returns: cointegration evidence from emerging market

The aim of this paper is to examine whether changes in nominal oil prices (Brent and West Texas Intermediate (WTI)) affect the stock market returns in the context of an emerging market framework. The Autoregressive Distributed Lag bounds testing approach of cointegration is used to test for the long run relation between the two variables, where the daily stock market index return is calculated using the first difference in the natural logarithms of stock market index. Further, we test for the stability of the cointegration relationship by examining the sensitivity analysis where diagnostic tests for serial correlation (namely the Breusch–Godfrey serial correlations LM test) and cumulative sum of recursive residuals (CUSUM) are employed. Using daily data from January 3, 2000 to December 9, 2015, the findings suggest that there is long run integration between oil prices and stock returns series in which the daily oil price shocks have a negative impact on stock returns. The highly significant error correction coefficient indicates high rate of convergence to equilibrium. In addition, the Toda and Yamamoto (J Econom 66(2):225–250, 1995) Granger non‐causality test indicates significant bidirectional causality between stock market returns and Brent nominal oil price, meanwhile there is unidirectional causality running from WTI oil price to stock market returns. These findings are, up to some extent, meaningful for investors, portfolio managers and policy makers.     

Quantity of weapon oils at the target as a function of shooting sequence and firing distance

Five widely used gun oils were tested to see if they could be identified by gas chromatography. All oils in the test produced characteristic gas chromatograms and the test was highly sensitive in tracing the oils. Seven different weapons and various types of ammunition were used to perform firing tests involving an oil sold under the brand name of "Gun pro." The weapons were oiled and wiped dry and subsequently discharged at a cotton cloth target. Series of shots were fired from a maximal distance of 3 m, and the weapon was not cleaned between shots. Grease marks and powder-burn traces were extracted separately and the extracts, after adding an internal standard, were investigated by means of gas chromatography (gas chromatography unit by Perkin and Elmer). The largest quantities of oil were transmitted by indoor ammunition fired from a small-bore rifle. At a firing range of 20 cm, a decrease in the oil quantity could be observed up to the fourth discharge. When the firing range was varied there was a decrease in the oil quantity up to a distance of 80 cm. The first and the second discharge could be distinguished up to a firing range of 60 cm. With increasing force of the projectile and a decrease in the interior length of the gun barrel, the quantity of oil conveyed to the target also decreased. Additionally, the identifiability of the oil was investigated after firing at several layers of cloth and after storage of the samples (no losses occurred after a 1-month storage period).(ABSTRACT TRUNCATED AT 250 WORDS)     

光照人工老化原子印油色痕的分析

通过高效液相色谱法对光照人工老化后的原子印章色痕中的主要组分——颜料与油脂进行分析。寻找研究这些组分随时间变化的规律。为原子印章色痕形成时间的深入研究提供条件。     

审理油污案件的法律问题分析及解决

以十几年来在广东省海域和水域发生的油污诉讼案件的分析为基础,结合向有关执法部门调研取得的成果,疏理油污案件存在较大争议的几个法律问题,对油污案件的定性、索赔主体和损害主体进行分析,对船舶碰撞导致油污损害的责任主体确定进行深入探讨,对油污损害范围的确定、油污损害赔偿责任的归责原则以及油污诉讼案件的法律适用等问题进行研究,并提出立法建议。     

“油价问题”的法律规制——以产业法与竞争法的功能组合为核心

＂油价问题＂并非简单的价格管制,牵涉到产业、竞争等诸多体制性因素,其背后折射出产业法与竞争法之间的断裂。以产业法与竞争法的功能组合为核心规制油价,一方面应侧重于竞争法的角度推进《反垄断法》配套规范的制定和实施,并从公共政策的高度、超越具体执法机关以有效规制垄断性油企的限制竞争行为;另一方面应侧重于产业法角度打破既有垄断结构以实现局部充分竞争,并辅之以金融市场的基础建设及垄断性油企的公司治理,从而构建由石油储备机制、市场化的企业竞争机制和石油期货机制构成的油价形成系统。     

论受害人对船舶油污责任保险人的直接请求权——兼谈《中华人民共和国海事诉讼特别程序法》第97条的立法完善

在船舶油污损害赔偿领域设置保险和保证赔偿制度是保护受害人充分赔偿的需要,也是特殊侵权损害赔偿制度发展的必然。船舶油污责任保险具有适用范围特定性以及保险的强制性等特点。船舶油污损害赔偿公约体系确立了受害人对油污责任保险人或保证人的直接诉讼制度,但有着特定的适用范围,并赋予了保险人较为宽泛的抗辩事由。《中华人民共和国海事诉讼特别程序法》借鉴国际公约,确立了受害人对油污责任保险人的诉讼制度,但由于缺乏配套制度,实践中该制度的适用比较混乱。建议中国建立以油污强制责任保险制度为核心的船舶油污责任制度,明定责任保险人直接被诉的情形,以及在直接被诉情形下的抗辩事由,同时明确责任保险人承担责任的形式等。     

Evaluation of the self-heating tendency of vegetable oils by differential scanning calorimetry

The evaluation of the self-heating propensity of a vegetable (or animal) oil may be of significant importance during the investigation of a fire. Unfortunately, iodine value and gas chromatographic-mass spectrometric analysis do not lead to meaningful results in this regard. To the contrary, differential scanning calorimetry (DSC), which does not measure the chemical composition of the oil, but rather its thermodynamic behavior, produces valuable results. After a thorough literature review on the autooxidation of vegetable oils, several oils with different self-heating tendencies were analyzed using a Mettler-Toledo differential scanning calorimeter DSC 25 between 40 degrees C and 500 degrees C. Analyses were carried out both under air and nitrogen atmosphere to identify the phenomena due to autooxidation reactions. Using DSC, it was possible to observe the induction period of the oil (when available), the three different exothermic events, and the autoignition temperature (relatively independent of the oil type).     

CAUSALITY,ECONOMIC CONDITIONS,AND BURGLARY*

This study examines the extent to which the symmetry-asymmetry distinction and offense aggregation bias obfuscate the relationship between economic conditions and crime. Specifically, we use ARIMA techniques to assess the impact of incremental and abrupt changes in oil prices on counts of total, commercial, and residential burglaries in Oklahoma City, Oklahoma. Taken together, the bivariate and interrupted time series analyses indicate that the causal impact of oil prices on burglary is asymmetrical and varies across the two subcategories of breaking and entering.     

A review of the existing legal regime on exploitation of oil and the protection of the environment in Nigeria

Abstract

Since the discovery of oil in commercial quantities in Oloibiri town in the present day Bayelsa State of Nigeria in 1956, the Nigerian government has encouraged the development and growth of the oil industry. The government, being conscious of the concomitant effects of the exploration and production of oil on the environment, enacted laws to regulate the exploitation of the oil and the protection of the Nigerian environment. This article examines the legal regime in this respect. It is the view of the writer that some of the laws regulating the protection of the environment are archaic, especially the penalty sections with small fines which do not serve as a deterrent to the oil companies or encourage them to adopt high standards. It is also the view of the writer that the laws regulating the oil industry should be amended to confer standing on citizens groups. The writer suggests that a strict liability regime should be made to apply to the oil industry, and that related laws should be duly enforced by the government agencies charged with responsibility of overseeing the oil industry. Finally, it is the view of the writer that the oil-bearing communities of the Niger Delta should be systematically developed by the Nigeria government so that there can be peace in the region.     

Authority in Arctic governance: changing spheres of authority in Greenlandic offshore oil and gas developments

The Arctic has rapidly transformed from a “frozen desert” into a theater for high-level politics. Climate change and socioeconomic interdependencies bring the World more and more to the Arctic and vice versa. Increased geological knowledge, new technologies, and high-energy prices make it possible to develop oil and gas resources in the Arctic; however, the effectiveness of oil spill response techniques remains a key concern. To understand oil and gas exploration in the Arctic governance setting, and especially the authority of Greenland, we combine a multi-level governance framework with the concept sphere of authority from post-international theory. The Arctic sphere of authority on oil and gas consists of many different governance arrangements, of which the most well-known governance arrangement is the Arctic Council. This paper focuses on the authority of Greenland in the changing oil and gas governance arrangements in the Arctic. Crucial is the changing Danish–Greenlandic relationship, in which the development of a Greenlandic oil and gas sector is seen as a tool to become financially independent. It can be concluded that the capacity of the Greenlandic government and civil society actors should be the primary guideline for the pace in which oil and gas activities are being developed. Taking this approach will ensure that the Greenland is retaining its central position and high degree of influence on the governance of oil and gas development in its country. Otherwise, it will lose influence and benefits will flow elsewhere.     

Corruption in the North Sea oil industry: Issues and assessments

The article explores the extent, the institutional mechanisms and economic consequences of economically motivated bribery in the Norwegian (and British) oil industry. It focuses on corruption directed against middle-level management in the oil companies. The empirical part of the study is partly based on public information collected from court cases, mainly from British courts; and partly based on systematic interviews of security experts in Norwegian and international oil companies, and British and Norwegian police.     

我国石油行业政府监管机制存在的问题及对策

石油作为人类社会发展中的重要能源,在国家安全战略和人民日常生活中发挥着不可替代的作用,世界各国都对其采取了不同程度的国家控制。在我国,石油行业不仅具有行业本身的自然垄断性,同时由于我国政府的监管方式还使其具有独特的行政垄断性。本文从石油行业本身的技术经济特征入手,分析了我国石油行业政府监管机制存在的问题及立法缺陷,并对《石油法》的择日出台进行了前景展望。     

Impacts of realized volatility of oil price over foreign trade related activities in Turkey

Since 1973 oil crises, especially, small open economies have considered sudden and highly volatile movements in currencies and current account deficits. Oil prices have been breaking new historical price records since second quarter of 2014, especially from last quarter of 2015 to first quarter of 2016, which have gradually put pressure on political, geographical, and currencies risks in the Middle East and Eastern European countries. Similarly, because Turkish economy has been experienced serious current account deficit problems especially since 2002, the effect of decline in oil prices and increased volatility has been worth of investigating. For 2003M1–2015M7 period, export–import ratio, real exchange rate index, realized volatility in oil prices calculated based on monthly OPEC basket price, industrial production index, and consumer price index were collected to analyze these effects and causality relationship among these variables. Test results of unit root test with and without structural break, ARDL bound test and co-integration test were sorted out among variables. Initial result is that price volatility increases and total import decreases more sharply than total export after the decline in oil prices; thus, export–import ratio increases. Another is that there is a negative relationship between real exchange rate index and export–import ratio for real economy because of low oil substituents. As expected, inflation has an adverse effect on foreign trade ratio. Consequently, because of lower pressure of energy-induced inflation, economy policy makers will have some ability to change their priorities from inflation issue to other structural problems.     

纵火现场中汽油、煤油和柴油残留物的ATD／GC／MS法检测

目的为火场中汽油、煤油和柴油残留物的检测建立一种简便、高灵敏度的ATD／GC／MS检验方法。方法采用Tenax TA吸附管吸附富集检材中的汽油、煤油和柴油成分。然后用美国PE公司的ATD／GC／MS仪器进行全自动的解吸和分析检测。结果检材中汽油、煤油和柴油的检测极限分别达0．05、0.2、0．2pL／mL。结论该方法具解吸和分析检测过程自动化。操作简便快捷，检测灵敏度高。杂质干扰少等特点，可用于实际火场皆汽油、煤油和柴油残留物的检测。     

论油污应属巨灾保险承保对象

油污符合巨灾保险承保对象所具有的损失发生巨大性、风险发生概率低、风险预测难度大和风险难以分散的识别标准,应属于巨灾保险承保对象.油污巨灾保险具有公共产品属性、石油利益的获得者具有广泛性、侵权损害赔偿责任呈现社会化分担趋势,故政府应当作为油污巨灾保险的投保人.将油污纳入巨灾保险体系中,有助于丰富油污保险类型,构建油污巨灾保险与普通油污保险二元并列的局面,以社会力量督促石油行业提高安全生产力度,并达到弥补普通油污保险、油污基金、政府救济等其他油污灾后救济制度缺陷的目标.     

油污损害赔偿中非漏油方的责任主体地位探析

应用侵权法中的归责原则和连带责任理论,对两船碰撞一船漏油时非漏油方是否承担赔偿责任存在的三种不同观点及案例进行了分析;基于民法中的补充责任原则和实证的方法,提出不论非漏油方对船舶碰撞的发生是否有过错,应当由漏油方首先对油污受害人承担责任,只有在漏油方不能承担全部赔偿责任时,非漏油方才承担补充责任,以此保障油污受害人得到充分赔偿。对完善我国船舶污染损害赔偿立法及海事司法实践有参考、借鉴作用。