气候变化领域集成服务门户(CCPortal): Crude oil footprint in the rapidly changing world and implications from their income and price elasticities

CCPortal

DOI	10.1016/j.enpol.2022.113204
	Crude oil footprint in the rapidly changing world and implications from their income and price elasticities
	Zheng, Xinzhu; Wang, Ranran; Liddle, Brantley; Wen, Yuli; Lin, Lu; Wang, Lining
发表日期	2022
ISSN	0301-4215
EISSN	1873-6777
卷号	169 页码:11
英文摘要	Oil demand's income and price elasticities are important behavioral parameters for policy making. Despite its popularity in research, few studies investigated the elasticities of consumption-based oil demand, i.e., the amount of crude oil required to meet a nation's final demand regardless of the location of extractions, namely the oil footprint. Here we quantified the oil footprint of 49 countries/regions from 1995 to 2017 and estimated the elasticities of oil footprints using the panel Autoregressive Distributed Lag model. The results reveal the oil connections among countries hidden in the non-oil trade: the United States, China, and Japan imported a large amount of virtual oil embodied in the commodities and services, while Canada and Russia are the dominant suppliers. The elasticity estimations on 30 OECD countries show that oil footprints are more responsive to income increases in the long run than their short-run counterpart, with the elasticities around 0.75 and 0.48, respectively. Tariffs on oil products might not curb the oil footprint as the price elasticities are not robustly significant or negative. Moreover, the divergent elasticities of oil footprint by consumption categories highlight that more attention should be paid to the surge of oil demand embodied in construction, manufactured products, and services.
英文关键词	Oil footprint; Income elasticity; Price elasticity; ARDL-ECM
学科领域	Economics; Energy & Fuels; Environmental Sciences; Environmental Studies
语种	英语
WOS研究方向	Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology
WOS记录号	WOS:000855629700003
来源期刊	ENERGY POLICY
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/272286
作者单位	Leiden University; Leiden University - Excl LUMC
推荐引用方式 GB/T 7714	Zheng, Xinzhu,Wang, Ranran,Liddle, Brantley,et al. Crude oil footprint in the rapidly changing world and implications from their income and price elasticities[J],2022,169:11.
APA	Zheng, Xinzhu,Wang, Ranran,Liddle, Brantley,Wen, Yuli,Lin, Lu,&Wang, Lining.(2022).Crude oil footprint in the rapidly changing world and implications from their income and price elasticities.ENERGY POLICY,169,11.
MLA	Zheng, Xinzhu,et al."Crude oil footprint in the rapidly changing world and implications from their income and price elasticities".ENERGY POLICY 169(2022):11.