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Zuzanna G

PED of gasoline - 1 views

economics.about.com/...gasoline_elast.htm

PED price elasticity demand gasoline

shared by Zuzanna G on 19 Oct 13 - Cached
  • Clemente F on 19 Oct 13
     
    Gasoline has a very inelastic demand. It became an essential product because it is used to produce energy, to use cars and for so many other functions. This article discusses if the elasticity of gasoline may is zero or not. Even the fact they are discussing it means that gasoline is essential because if its elasticity is considered to be zero or a little more it shows how important the product is and how muche the price of the product doesn't affect significantly the demand for it.
  • Zuzanna G on 19 Oct 13
     
    This article smoothly discusses the PED of gasoline. It's worth reading because it examines it clearly and quite precisely - e.g. taking into consideration time. It shows that gas is an inelastic good, due to the fact that it's really necessary and commonly used. This text ends with a nice conclusion stating that one's never fully sure about the changes in economy.
Aleksi B

Hybrid air, a full hybrid gasoline system, compressed air car engine - 0 views

www.psa-peugeot-citroen.com/...ir-engine-full-hybrid-gasoline

efficiency hybrid air gasoline car engine Production

shared by Aleksi B on 11 Feb 14 - No Cached
  • Aleksi B on 11 Feb 14
     
    This article explains a new development that allows gasoline and air to be combined to create a more fuel efficient eco friendly car
Talisha R

Price Controls on Gasoline - 0 views

caffertyfile.blogs.cnn.com/...ontrols-be-imposed-on-gasoline

'price controls' gasoline

shared by Talisha R on 13 Nov 13 - No Cached
  • Talisha R on 13 Nov 13
     
    This article is about price controls on gasoline. Gas prices have risen by 14%, this is due to rising oil prices. The price controls imposed on gas leads to a shortage of gasoline and rationing by the government. Also, black markets are likely to form and people will buy at very steep prices due to the price controls.
Marenne M

Oil prices will drop if U.S. lifts crude export ban: study | Shanghai Daily - 2 views

www.shanghaidaily.com/...article_xinhua.aspx

aggregate supply

shared by Marenne M on 01 Apr 14 - No Cached
  • Gasoline costs are tied to a global market, and this study shows that additional exports could help increase supplies, put downward pressure on the prices at the pump and bring more jobs to America.
  • if export was allowed, the cost of gasoline, heating oil and diesel fuel is projected to fall
  • United States is expected to shift from a net importer to a net exporter by 2020
  • ...1 more annotation...
  • On an aggregate supply-demand basis, the country is rapidly approaching a self-sufficiency rate of 90 percent
  • Marenne M on 01 Apr 14
     
    This article describes how the U.S. is considering becoming more self-suffiecient in the fuel industry. The want to decrease their  imports and increase exports. Decreasing their imports will decrease import cost, increasing the aggregate supply. Simultaneously, increasing export will increase aggregate demand. This will shift the U.S. from a net importer to a net exporter.
John B

Hybrid Air: Improved vehicle efficiency through air propulsion - 0 views

vr-zone.com/...19509.html

efficiency

shared by John B on 05 Feb 14 - No Cached
  • Peugeot Citroën is pioneering a new direction for hybrid vehicles with its innovative Hybrid Air concept. The combination of a standard gasoline engine and compressed air system enables the car to achieve an efficiency of up to 81 MPG.
  • a car that can effectively run on, you guessed it, the very air we breathe
  • This makes for a far more affordable, lighter, and easier to maintain car, with emissions of 69 grams of CO2 per kilometer driven, rivaling that of the Prius’ 92 g/km. Also prepare to pay less for fuel, with the concept’s exceptional city driving mileage of 81 miles per gallon (MPG).
  • John B on 05 Feb 14
     
    This article is about a new car from Peugeot Citroën. It will use the air that we breath to accelerate, creating a more fuel efficient car. This is a great step towards environmental friendly cars.
Haydn W

Taxing Carbon Is Like Taxing Diamonds | Mary Manning Cleveland - 0 views

www.huffingtonpost.com/...bon-is-like-tax_b_3965170.html

Huffington Post Price Elasticity Fossil Fuels Carbon Emissions Demand Supply

shared by Haydn W on 19 Oct 13 - No Cached
  • Taxing Carbon Is Like Taxing Diamonds
  • To reduce carbon emissions, we must tax fossil fuels -- but, say the pundits, we can't do so because the tax would be regressive, clobbering the poor.
  • Imagine that we impose a sales tax on diamonds. Would we worry about the burden on middle-class purchasers of one-fourth-caret engagement rings? What about the part of the tax "passed back" onto the DeBeers Group? Not much sympathy for global monopolists either.
  • ...8 more annotations...
  • Surprisingly, a carbon tax would operate much like a diamond tax, for reasons both of demand and supply.
  • Demand: The wealthy actually consume a disproportionate amount of carbon. Discussions of a carbon tax usually focus on the price of gasoline. One gallon of gas produces about 17 pounds of CO2. One metric ton is 2,204 pounds. So a $100 tax on a ton of CO2 comes to $0.77 per gallon -- a significant cost to low-income commuters and small truckers.
  • But the very poor don't drive or travel or occupy much space; the rich fly planes, including private jets; drive to low-density suburbs; occupy and heat multiple houses and hotels; and buy lots of stuff. Clearly the rich consume much more carbon per capita than the poor.
  • Demand elasticity for oil is low, about 0.5; so a 1 percent increase in oil price would cause a 0.5 percent decrease in consumption. That makes sense, since in the short run, it's hard for people to cut energy consumption, especially if they must drive to work. But, though numbers are hard to come by, elasticity of supply is much, much lower, for two reasons. First, oil production takes decades and billions in capital investment; producers cannot quickly increase or decrease supply. Second, oil producers form an international cartel, an organized mega-monopoly, which holds down production to drive up prices. Since they're already charging what the traffic will bear, they can't much raise prices to cover a tax.
  • As economists long ago figured out, buyers and sellers share a tax in inverse proportion to elasticity. Therefore, if supply elasticity of carbon is, say, 0.1, while demand elasticity is 0.5, the suppliers will pay five times as much of the tax as consumers. That reduces that $0.77 per gallon gas tax to only $0.13. Moreover, precisely because most of the tax falls on suppliers, it will generate plenty of revenue to help those unfortunate long-distance commuters and small truckers, to build more public transportation, to invest in renewable energy, and even to cut super-regressive taxes like the payroll tax.
  • According to Edward Wolff, in 2007, the top 1 percent in the U.S. owned 43 percent of non-home wealth, mostly securities, including of course energy company stocks and bonds. The top 10 percent of wealth holders owned 83 percent.
  • A May 2013 federal study of the Social Cost of Carbon estimated costs of additional CO2 emissions for 2010 to 2050 ranging from $27 to $221 per metric ton in 2050, depending on assumptions.
  • So we have good news and bad news. Good news: The cost of reducing carbon emissions will fall hardest on the 1 percent, who consume the most energy and own the energy companies. Bad news: Ditto. Expect a fight!
  • Haydn W on 19 Oct 13
     
    This article talks about the economic implications of imposing a tax on carbon emissions and how this would affect the different social classes of society in different ways. The article makes specific reference to economic theory and the elements on elasticity.
  • Jakub B on 20 Oct 13
     
    Taxation almost always decrease the economic surplus and therefore it makes a decline in effectiveness. In this case, the energy companies will be the most affected group.
Zuzanna G

How can America pay for its roads? - 1 views

www.economist.com/...economist-explains-4

PED price elasticity demant tax government excise

shared by Zuzanna G on 09 Nov 13 - No Cached
  • Zuzanna G on 09 Nov 13
     
    This is an article that appeared lately in The Economist. It considers gas taxation in order to fund roads. It gives the factor that we discussed during classes: substitutes to gasoline, PED, the influence on the environment.
John B

Indonesia set to cut fuel subsidy - 0 views

uptotheminutenews.net/...esia-set-to-cut-fuel-subsidy-2

Subsidy

shared by John B on 09 Nov 13 - No Cached
  • Indonesia’s parliament has paved the way for a rise in gasoline and diesel prices after months of debate and political haggling.
  • The average 33% hike will reduce the government’s ballooning fuel subsidy which has been a major drain on resources.
  • The move will likely stoke inflation
  • ...3 more annotations...
  • A proposed increase of 33% in fuel prices last year led to violent demonstrations around the country
  • Any increase in prices will lead to a short-term jump in inflation to between 7% and 8% from current levels of approximately 5% – a jump that economists say is a bitter pill but one the country has to swallow.
  • People have been expecting the price of fuel to go up,” said Ade, a street vendor in Jakarta. He sells fried rice to office goers in the business district to make a living. “So already the prices of all the basic food like rice and vegetables has gone up too. Also it is the beginning of the fasting month soon – and prices traditionally go up then too.”
  • John B on 09 Nov 13
     
    In this article the problem about rising the fuel prices with about 33% is talked about. The reason to why the government has decided to do this is because it "will reduce the government's ballooning fuel subsidy which has been a major drain on resources". Instead, the new budget includes money to about 15 million families, most of them are poor.
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