• Management & Information Systems Review
• /
• v.37 no.3
• /
• pp.65-81
• /
• 2018

This study estimated the long-run and the short-run price and income elasticity of crude oil demand by using the ARDL model in Korea. First, the long-run cointegration relationship existed between crude oil demand and price or income in the ARDL-bounds tests. Second, the long-run own price, the cross price elasticity and the income elasticity were both statistically significant elastic and sensitive in the ARDL. Third, there was autocorrelation of the residuals, but no misspecification errors and heteroscedasticity, and then the residuals showed a normal distribution. And the CUSUM & CUSUMSQ tests showed that the coefficients were stable. Fourth, the short-run own price, the cross price elasticity and the income elasticity were both statistically significant elastic and sensitive in the ARDL-RECM. The ECM with the short-run dynamics showed rapid adjustments in the long-run equilibrium of oil demand after the economic crisis. In the short-run, the sensitivity of crude oil demand to price and income changes has moved in the same direction as the long-run case. Korea, depending too much on foreign crude oil, is vulnerable to the shocks of oil prices, so rising oil prices can certainly have a negative impact on Korea's trade balance. And the elasticity of long-run oil prices may help to control and manage Korea's oil demand. The government needs to strengthen monitoring of the country's policies and market trends related to crude oil, establish strategies to customize national policies and market conditions, and strengthen active market dominance efforts through pioneering new market and diversification.

• Environmental and Resource Economics Review
• /
• v.22 no.4
• /
• pp.643-670
• /
• 2013

This study analyzed the impact of crude oil inventory while gasoline price adjusts to international crude oil price(WTI) fluctuations. We mainly focused on asymmetric relationship between crude oil and petroleum product prices and added oil inventory as an variable, using the error correction model which is based on Borenstein et al.(1997). This paper selected the sample period from January 1988 to December 2012, analyzed the asymmetry of each intervals and the influence of crude oil inventory to the degree of asymmetry changes, both full period and five years period respectively. The results showed that when considering crude oil inventory, existence and degrees of time amount asymmetry varies.

• The Journal of the Convergence on Culture Technology
• /
• v.4 no.3
• /
• pp.93-98
• /
• 2018

The article studies macroeconomic effects of the oil shock for Korea, which is a representative emerging economy of Asia and a small open economy. This article analyzed the macroeconomic effects of oil shocks in terms of demand and supply. In the case of Korea, oil price shocks different responds depending on factors of shock. Oil supply shock have led to a decline in industrial activity and interest rate, and oil specific demand shock have shown the greatest increase in interest rate relative to other oil price shocks. In addition, oil demand shock driven by economic activity showed that the comsumer price and the exchange rate are the largest compared to the oil shock caused by other factors. Therefore, policy makers will need to identify the source of the oil shock.

• Journal of Korea Soil Environment Society
• /
• v.4 no.3
• /
• pp.95-104
• /
• 1999

Comparative biodegradation studies of liquid and solid alkanes and of two different solid alkanes were conducted by an isolated Acinetobacter sp., which degraded crude oil alkanes simultaneously. for the determination of degradation mechanism of hydrophobic crude oil constituents. Also a model oil experimental system composed of a solid alkane. heneicosane, as a substrate and a non-degradable non-aqueous phase liquid. pristane, as an oil matrix was established and studied. It was proposed that the Acinefobacter sp. utilized hydrophobic substrates directly on the surface of them with no difference in the degradation rates between the liquid and solid alkanes. On the basis of the results from the heneicosane/pristane system which imitates crude oil matrix containing solid constituents. the crude oil matrix was considered to reduce the bioavailability of contained substrates by reducing the specific surface area of substrates to contact with microorganisms.

• Journal of Korea Soil Environment Society
• /
• v.5 no.1
• /
• pp.97-108
• /
• 2000

A Gram-type negative bacteria that can utilize crude oil as the sole source of carbon and energy was isolated from an activated sludge of a local sewage treatment plant and identified tentatively as belonging to the genus Acinetobacter. The isolate could degrade n-alkanes and unidentified hydrocarbons in crude oil and utilize n-alkanes, hydrophobic substrates, as sole carbon and energy sources. n-Alkanes from tridecane (Cl3) to triacontane (C30) in crude oil were degraded simultaneously with no difference in degradation characteristics between the two close odd and even numbered alkanes in carbon numbers. The linear growth of the isolate and the degradation characteristics of Pr-alkanes suggested that the transport of substrates from the oil phase to the site where the substrates undergo the initial oxidation in microorganism might be the rate limiting in the biodegradation process of crude oil constituents. The remainder fraction of substrates after cultivation was considered to reflect the hydrocarbon inclusions in the cell mass, characteristics in Acinetobacter species, and to control the transport of substrates from crude oil phase. On the basis of the results, the isolate was considered to play an important role in the degradation study of hydrophobic environmental pollutants.

• Journal of the Korean Society for Marine Environment & Energy
• /
• v.15 no.3
• /
• pp.247-256
• /
• 2012

Stable carbon isotope ratio of oil components are known to be unaffected by weathering processes and thus has been widely used to determine the origin of spilled oil. In this study, molecular index and composition of stable carbon isotope in 15 crude oils and petroleum product were analyzed and used as oil fingerprints to determine the discriminating power of each fingerprinting method among target crude oils. Through the fingerprints of alkane distribution only Bintulu and B-C(1%) were distinguishable from other crude oils. The pristane/phytane ratio can classify the crude oils into three groups but differentiation of crude oils within a group was impossible using the ratio. The crude oils of A.L., A.S.L., Foroozan and B-C(1%) were differentiated from the other oils using PAH source recognition indexes of C2D/C2P and C3D/C3P. The usage of 4-mD/1-mD and 2/3-mD/1-mD ratio was able to distinguish A.S.L., Bintulu and Oman from the other crude oils. However the PAH source recognition ratios in the other crude oils were similar and thus they were impractical to be used for source identification among the target crude oils. Stable carbon isotope ratios of alkanes were able to uniquely specify each crude oil in the plot of ${\delta}^{13}C_{C21}$ and ${\delta}^{13}C_{C25}$ except A.L., A.M., Qatar-Marine, B-C(1%). The oil fingerprinting method using stable carbon isotope ratios of individual alkane compounds showed more discriminating power among the target crude oils than the conventional source recognition indexes of PAHs or alkanes.

• Korea Petroleum Association Journal
• /
• no.3 s.145
• /
• pp.21-27
• /
• 1993

• 월간낙농육우
• /
• v.32 no.4
• /
• pp.93-95
• /
• 2012

• 월간낙농육우
• /
• v.32 no.4
• /
• pp.90-92
• /
• 2012

• 월간낙농육우
• /
• v.32 no.4
• /
• pp.102-104
• /
• 2012