Show Less
You do not have access to this content

Monetary Policy and Crude Oil

Prices, Production and Consumption

Basil Oberholzer

The global crude oil market is critically important in many respects. It is the fuel that drives the global economy and, as such, is the focus of climate policies. Moreover, crude oil is the basis of a tradable financial asset. It is therefore connected to several outstanding macroeconomic developments of recent years, including financial market fluctuations, the financial crisis and the exceptional conduct of monetary policy. This book investigates the impacts of monetary policy and the financial system on the global crude oil market. Furthermore, it outlines how monetary policy may also be used to guarantee stability and to contribute to ecological sustainability.
Show Summary Details
You do not have access to this content

Chapter 3: US monetary policy and the global crude oil market

Prices, Production and Consumption

Basil Oberholzer

Extract

When applying the hitherto theoretical analysis to the real world, there are some additional issues that should be enlightened. In this chapter, the specific case of US monetary policy and its implementation mechanisms are taken into account both for the period of conventional and so-called unconventional policies. Moreover, the global crude oil pricing system is presented. It shows that there are many factors, in addition to theory, which contribute to uncertainty in the market. An additional section investigates how the market for crude oil is related to other energy sources like natural coal and gas. Finally, we examine how monetary policy of a single country can influence the globally integrated oil market.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.


Further information

or login to access all content.