Crude oil and gasoline prices: an asymmetric relationship?

Gasoline is the petroleum product whose price is most visible and, therefore, always under public scrutiny. Many claim there is an asymmetric relationship between gasoline and oil prices - specifically, gasoline price changes follow oil price changes more quickly when oil prices are rising than when they are falling. To explore this issue, Nathan Balke, Stephen Brown and Mine Yucel use several different model specifications to analyze the relationship between oil prices and the spot, wholesale, and retail prices of gasoline. They find asymmetry is sensitive to model specification but is pervasive with the most general model.Petroleum industry and trade ; Prices

Oil price shocks and the U.S. economy: where does the asymmetry originate?

Rising oil prices appear to retard aggregate U.S. economic activity by more than falling oil prices stimulate it. Past research suggests adjustment costs and/or monetary policy may be possible explanations ofthe asymmetric response. This paper uses a quasi-vector autoregressive model of U. S. economy to examine from where the asymmetry might originate. The analysis uses counterfactual impulse response experiments to detennine that monetary policy alone cannot account for the asymmetry. The robustness ofshort-lived asymmetry across the base case and counterfactuals is consistent with the adjustment-cost explanation.Petroleum industry and trade

An international perspective on oil price shocks and U.S. economic activity

The effect of oil price shocks on U.S. economic activity seems to have changed since the mid-1990s. A variety of explanations have been offered for the seeming change—including better luck, the reduced energy intensity of the U.S. economy, a more flexible economy, more experience with oil price shocks and better monetary policy. These explanations point to a weakening of the relationship between oil prices shocks and economic activity rather than the fundamentally different response that may be evident since the mid-1990s.> ; Using a dynamic stochastic general equilibrium model of world economic activity, we employ Bayesian methods to assess how economic activity responds to oil price shocks arising from supply shocks and demand shocks originating in the United States or elsewhere in the world. We find that both oil supply and oil demand shocks have contributed significantly to oil price fluctuations and that U.S. output fluctuations are derived largely from domestic shocks.Petroleum industry and trade ; Petroleum products - Prices ; International trade ; Economic conditions - United States

Aquaculture induced erosion of tropical coastlines throws coastal communities back into poverty

Shallow tropical coastlines harbour unique mangrove ecosystems, which support livelihoods and provide a natural barrier against coastal flooding. Non-sustainable land-use practices, such as large-scale clear cutting of mangroves for aquaculture, ground water withdrawal and alteration of river flows, result in rapid subsidence. The collapse of aquaculture production, due to pollution and disease, is followed by coastal erosion, damage to infrastructure, intrusion of salt water and coastal flooding. Standard engineered interventions for protection often fail or are extremely expensive in these soft muddy environments. Subsidence and erosion render re-planting of mangroves in front of retreating coastlines impossible. Short-term solutions should focus on restoration of abiotic conditions, such as hydrology and sediment fluxes, to facilitate rapid establishment of protective mangrove belts. However, to ensure long-term sustainability, improved governance frameworks are required that put in place criteria for sustainable aquaculture, guide coastal infrastructure designs and limit ground water extraction

Feasibility study - 30 watt per pound roll-up solar array Quarterly technical report, 1 Jul. - 30 Sep. 1967

Configuration, rod tradeoff, and deployment parameter studies for design of solar panel arra

Nitric oxide regulates skeletal muscle fatigue, fiber type, microtubule organization, and mitochondrial ATP synthesis efficiency through cGMP-dependent mechanisms

Aim: Skeletal muscle nitric oxide–cyclic guanosine monophosphate (NO-cGMP) pathways are impaired in Duchenne and Becker muscular dystrophy partly because of reduced nNOSμ and soluble guanylate cyclase (GC) activity. However, GC function and the consequences of reduced GC activity in skeletal muscle are unknown. In this study, we explore the functions of GC and NO-cGMP signaling in skeletal muscle. Results: GC1, but not GC2, expression was higher in oxidative than glycolytic muscles. GC1 was found in a complex with nNOSμ and targeted to nNOS compartments at the Golgi complex and neuromuscular junction. Baseline GC activity and GC agonist responsiveness was reduced in the absence of nNOS. Structural analyses revealed aberrant microtubule directionality in GC1−/− muscle. Functional analyses of GC1−/− muscles revealed reduced fatigue resistance and postexercise force recovery that were not due to shifts in type IIA–IIX fiber balance. Force deficits in GC1−/− muscles were also not driven by defects in resting mitochondrial adenosine triphosphate (ATP) synthesis. However, increasing muscle cGMP with sildenafil decreased ATP synthesis efficiency and capacity, without impacting mitochondrial content or ultrastructure. Innovation: GC may represent a new target for alleviating muscle fatigue and that NO-cGMP signaling may play important roles in muscle structure, contractility, and bioenergetics. Conclusions: These findings suggest that GC activity is nNOS dependent and that muscle-specific control of GC expression and differential GC targeting may facilitate NO-cGMP signaling diversity. They suggest that nNOS regulates muscle fiber type, microtubule organization, fatigability, and postexercise force recovery partly through GC1 and suggest that NO-cGMP pathways may modulate mitochondrial ATP synthesis efficiency

Anomalous transport properties of the halfmetallic ferromagnets Co2TiSi, Co2TiGe, and Co2TiSn

In this work the theoretical and experimental investigations of Co2TiZ (Z = Si, Ge, or Sn) compounds are reported. Half-metallic ferromagnetism is predicted for all three compounds with only two bands crossing the Fermi energy in the majority channel. The magnetic moments fulfill the Slater-Pauling rule and the Curie temperatures are well above room temperature. All compounds show a metallic like resistivity for low temperatures up to their Curie temperature, above the resistivity changes to semiconducting like behavior. A large negative magnetoresistance of 55% is observed for Co2TiSn at room temperature in an applied magnetic field of 4T which is comparable to the large negative magnetoresistances of the manganites. The Seebeck coefficients are negative for all three compounds and reach their maximum values at their respective Curie temperatures and stay almost constant up to 950 K. The highest value achieved is -52muV/K m for Co2TiSn which is large for a metal. The combination of half-metallicity and the constant large Seebeck coefficient over a wide temperature range makes these compounds interesting materials for thermoelectric applications and further spincaloric investigations.Comment: 4 pages 4 figure