[open-economics] [Project-discussion] Oil Industry

Rodney Beard rodney.m.beard at gmail.com
Wed Feb 18 23:57:45 UTC 2015


Briefly my idea would be to go through Libecap's work and attempt to apply
it to a case study of one or more oil contracts. I haven't really thought
about the details but a brief glance indicates that not all data will be
available in the open oil contract database and we would have to draw on
other data. I can point to where to to find some of it later. It's not
clear to me actually what is in each contract and how it relates to the
theory, so I think part of the task is identifying that.

Table 1 Libecap & Smith 2002 summarizes the sort of information that I
would expect to find in the open oil database. First thing is to identify
what actually is in the database.

Rodney





On Wed, Feb 18, 2015 at 11:45 PM, Gustavo Silva <
gustavosantaremsilva at gmail.com> wrote:

> Hi Rodney,
>
> Could you elaborate on the type of framework we should look at? I mean,
> situations like that happen often - I took advantage of something similar
> to develop my thesis, for instance - but it was not clear the specific
> topic that that framework covers (Prices, firm's behaviors, etc).
>
> However, I understand that work involves merges in oil industry!?
>
> Thank you for your collaboration.
>
> 2015-02-18 23:38 GMT+00:00 Rodney Beard <rodney.m.beard at gmail.com>:
>
>> Hi Gustavo,
>>
>> as previously mentioned some of Gary Libecap's work on oil filed
>> unitization and contracts would provide a framework for the type of data
>> contained in the open oil database on contracts. My impression is that the
>> work to date didn't look at this literature.
>>
>> Scholar search here:
>> https://scholar.google.com/scholar?hl=en&q=libecap+oil+contract&btnG=&as_sdt=1%2C5&as_sdtp=
>>
>> Rodney
>>
>> On Wed, Feb 18, 2015 at 11:26 PM, Gustavo Silva <
>> gustavosantaremsilva at gmail.com> wrote:
>>
>>> Hi all,
>>>
>>> After regaining my strength after a tough breakdown at another project,
>>> I thought about what we could do to re-start the group. Most of the people
>>> previously involved left the group and/or moved away to other things and,
>>> thus, the group is kind of stumbling upon itself.
>>>
>>> It is crucial to rapidly get involved with a couple of projects and get
>>> some results so that people realize we're alive and kicking.
>>>
>>> The oil industry is a very peculiar one and so I believe it is a great
>>> start - specially since the literature is vague and not very concise in
>>> specific matters. That is why the group has previously done a model of
>>> an oil contract
>>> <http://openeconomics.net/2013/10/22/open-model-of-an-oil-contract/>,
>>> partnering up with Open Oil group. However, that research was not concluded
>>> and we must proceed.
>>>
>>> In this specific thread, there are two main things I wish to know from
>>> you:
>>>
>>>  1. Who's interested to get involved in this topic? I know Samira and
>>> Rodney want to help, even though their contribution is kind of limited due
>>> to real life commitments. However, as you understand, as more people get
>>> involved, better for us.
>>>  2. Which particular topics would you like to develop? Personally, I
>>> would vote for theoretical models to, first, explain some firm's behaviors
>>> in the market and, later, proceed with empirical analysis, using open data
>>> - of course.
>>>
>>> Please let us know your thoughts. Even if we are only a few
>>> collaborating, we can deliver amazing things, I am sure!
>>>
>>> Thank you in advance and I apologize to spam the OK's main mailing list,
>>> but thought others would like to get involved with us.
>>>
>>> --
>>> Best Regards / Obrigado e com os melhores cumprimentos,
>>> Gustavo
>>>
>>>
>>> _______________________________________________
>>> open-economics mailing list
>>> open-economics at lists.okfn.org
>>> https://lists.okfn.org/mailman/listinfo/open-economics
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>>>
>>>
>>
>
>
> --
> Best Regards / Obrigado e com os melhores cumprimentos,
> Gustavo
>
>
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