FES Funded ProjectsOutputs
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Are Jet Fuel and Diesel Markets Vulnerable to Crude Oil Price Shocks? Implications for Emerging Energy SourcesCrude oil prices are particularly relevant to jet fuel and diesel producers because these two types of energy are made.
We ask the question: whether and to what extent are price shocks to crude oil markets transmitted to jet fuel and diesel markets? To answer this question, in this poster we examine price transmissions in US energy markets.T01-P02 University of Alberta | Activity | 2020-02-20 | | Are Jet Fuel and Diesel Prices Vulnerable to Crude Oil Markets? Implications for Emerging Energy SourcesDuring the week of November 23-27, 2020, Future Energy Systems hosted a Digital Research Showcase. During this event, we showcased our poster on Twitter and interacted with virtual guests from around the world, representing a variety of sectors of academia, industry, and government. T01-P02 University of Alberta | Activity | 2020-11-23 | | Are Jet Fuel and Diesel Prices Vulnerable to Crude Oil Markets? Implications for Emerging Energy SourcesFor this competition, we prepared our poster for a multi-disciplinary audience. We focused on the policy rationale and implications of our research. We then recorded a 2-minute video in which we present our poster (as if to a live audience). The video along with the poster is available on the conference website (https://caes-scae.ca/blog/11th-annual-agri-food-policy-poster-competition/).T01-P02 University of Alberta | Activity | 2021-01-18 | | Are Jet Fuel and Diesel Prices Vulnerable to Crude Oil Markets? Implications for Emerging Energy SourcesWenbei's oral presentation was awarded the $500 Air Canada prize for best presentation. T01-P02 University of Alberta | Activity | 2021-03-29 | | Asymmetric Price Transmission and Impulse Responses Between Crude Oil, Jet Fuel, and DieselPrice transmission from oil to fuel markets exposes underlying market structures and behaviors, such as competitiveness and market power, which are relevant for developing energy outlooks and policy. Many studies have investigated price interdependences in petroleum markets, particularly pass-through effects from oil to gasoline. However, research is scarce on impacts of oil markets on jet fuel (a fast-growing market) and diesel (the staple fuel of ground transportation). This absence of information is particularly noteworthy as technological change is progressing that could substitute bio-feedstock for oil to produce biojet and biodiesel. An understanding of pass-through price relationships between current energy inputs and outputs is crucial to developing industrial risk management strategies, and assisting the development of emerging energy industries. Using a nonlinear time series econometric approach, we examine price transmission from crude oil to jet fuel and diesel. Specifically, we investigate asymmetric price adjustments and the dynamic paths of price adjustments in response to crude oil price shocks. Key results include: (1) both jet fuel and diesel have long-run equilibrium relationships with oil prices; (2) price adjustments of jet fuel and diesel are asymmetric, in opposite directions due to distinct differences in industrial characteristics; (3) the responses of the two types of fuel prices to oil shocks show non-linear dynamic paths, with different amplitudes and decay periods. Our findings contribute to a better understanding of the current fuel industries, and provide insights into emerging biofuel markets, with implications for businesses and policymakers. T01-P02 University of Alberta | Publication | 2022-01-13 | | Are Jet Fuel and Diesel Prices Vulnerable to Crude Oil Markets? Implications for Emerging Energy SourcesWe submitted a pre-recorded video for the poster presentation. T01-P02 University of Alberta | Activity | 2021-03-09 | | Are Jet Fuel and Diesel Prices Vulnerable to Crude Oil Markets? Implications for Emerging Energy SourcesWhat are price relationships between crude oil and jet fuel/diesel like? How might this information help develop emerging biofuel industries? T01-P02 University of Alberta | Activity | 2021-05-10 | | Are Jet Fuel and Diesel Prices Vulnerable to Crude Oil Markets? Implications for Emerging Energy SourcesDo oil prices impact the use of biofuels? How can hydrogen fuel cell technologies be improved? Can we ensure the electrical grid works with new energy sources and demands, including electric vehicles? Do evolving public opinions of oil and gas impact our society over time? What’s the effect of global coal mining on communities?
Explore these questions and more with a team of U of A grad students and postdocs who have five minutes each to explain their research before answering your questions.
This webinar is presented in partnership with the U of A’s Future Energy Systems program.
T01-P02 University of Alberta | Activity | 2021-06-10 | | The Potential of Low Grade Canola Feedstock for Biojet Refineries in Alberta: A GIS-Based AnalysisThis meeting was with representatives from Forge Hydrocarbons, which is one of our Knowledge Users. We presented our work on the supply of low grade canola for use as biojet feedstock. Representatives from Forge are interested in the results of this work. T01-P02 University of Alberta | Activity | 2021-06-14 | | The Potential of Low Grade Canola Feedstock for Biojet Refineries in Alberta: A GIS-Based AnalysisThis meeting was with representatives from Alberta Biojet Initiative, which is one of our Collaborators. We presented our work on the supply of low grade canola for use as biojet feedstock. T01-P02 University of Alberta | Activity | 2021-04-27 | | Supplies of Fuel-Grade Canola Oil for Low-Carbon Fuel Production: A GIS-Based Economic Analysis in AlbertaThis meeting was with representatives from Imperial Oil, which is one of our Knowledge Users. We presented our work on the supply of low grade canola for use as biofuel feedstock. Representatives from Imperial are interested in the results of this work given Imperial's proposal to build a large renewable diesel biorefinery just outside Edmonton.T01-P02 University of Alberta | Activity | 2021-12-01 | | The Potential of Low Grade Canola Feedstock for Biojet Refineries in Alberta: A GIS-Based AnalysisThis poster investigates prospects for a fuel-grade canola oil supply chain that prioritizes the use of non-No. 1 Canola as a biofuel feedstock. Using low-grade canola oil to produce biofuels can reduce feedstock costs and offers the opportunity to utilize existing petroleum infrastructure to transport and store canola oil, thereby reducing capital costs for biorefinery investments. We conduct a township-level GIS analysis to assess the availability of canola seed in Alberta and identify potential fuel-grade crushing sites based on the amount of annually accessible non-No. 1 Canola.T01-P02 University of Alberta | Activity | 2021-09-20 | | Potential Supplies of Fuel‐Grade Canola Oil for Low‐Carbon Fuel Production in Alberta, Canada: GIS Analysis Using an Improved Service‐Area ApproachOur study investigates prospects for a fuel-grade canola oil supply chain that prioritizes the use of non-No. 1 Canola as a biofuel feedstock. Using low-grade canola oil to produce biofuels can reduce feedstock costs and offer the opportunity to utilize existing petroleum infrastructure to transport and store canola oil, thereby reducing capital costs for biorefinery invest- ments. We conducted a township-level GIS analysis to assess the availability of canola seed in Alberta and identify potential fuel-grade crushing sites based on the amount of annually accessible non-No. 1 Canola. Using an improved service-area approach, we identify three potential sites for fuel-grade crushers, all of which had sufficient seed to produce, on average, over 65 thousand tonnes of oil per year (from 2016 to 2019). Northwestern Alberta appears to be especially suitable for a fuel-grade canola crushing plant, since it has the highest average amounts of non-No. 1 seed, and there are no existing food- grade crushers to compete with. Results further show that spatial and temporal variation in canola harvests impacts how much non-No.1 seed is available and could therefore influence investment decisions on where to locate fuel-grade canola crushing plants. New fuel-grade crushing plants could also stimulate regional development and boost incomes for local canola producers. Our analysis is relevant to policy and business decisions related to fuel-grade canola oil supply chain investments.T01-P02 University of Alberta | Publication | 2023-04-01 | |
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