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The Value of Saving Oil in Saudi Arabia

Author

Listed:
  • Jorge Blazquez
  • Baltasar Manzano
  • Lester C. Hunt
  • Axel Pierru

    (King Abdullah Petroleum Studies and Research Center)

Abstract

What is the value of saving a barrel of oil that would otherwise had been consumed domestically? This study explores the question, taking a long-run perspective into a general equilibrium approach. In the case of Saudi Arabia, the difference between the domestic price of oil and the international price represents an opportunity to improve economic efficiency across different activities and sectors. In this context, we study different policies aimed to reduce the domestic consumption of oil.

Suggested Citation

  • Jorge Blazquez & Baltasar Manzano & Lester C. Hunt & Axel Pierru, 2018. "The Value of Saving Oil in Saudi Arabia," Discussion Papers ks-2018-dp30, King Abdullah Petroleum Studies and Research Center.
  • Handle: RePEc:prc:dpaper:ks-2018-dp30
    DOI: 10.30573/KS--2018-DP030
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    File URL: https://www.kapsarc.org/research/publications/the-value-of-saving-oil-in-saudi-arabia/
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    Cited by:

    1. Shabaneh, Rami & Schenckery, Maxime, 2020. "Assessing energy policy instruments: LNG imports into Saudi Arabia," Energy Policy, Elsevier, vol. 137(C).
    2. Blazquez, Jorge & Galeotti, Marzio & Manzano, Baltasar & Pierru, Axel & Pradhan, Shreekar, 2021. "Effects of Saudi Arabia’s economic reforms: Insights from a DSGE model," Economic Modelling, Elsevier, vol. 95(C), pages 145-169.
    3. Karanfil, Fatih & Pierru, Axel, 2021. "The opportunity cost of domestic oil consumption for an oil exporter: Illustration for Saudi Arabia," Energy Economics, Elsevier, vol. 96(C).
    4. Ahn, Kwangwon & Chu, Zhuang & Lee, Daeyong, 2021. "Effects of renewable energy use in the energy mix on social welfare," Energy Economics, Elsevier, vol. 96(C).
    5. Ansari, Dawud & Holz, Franziska, 2020. "Between stranded assets and green transformation: Fossil-fuel-producing developing countries towards 2055," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 130, pages 1-1.
    6. Andrew Adewale Alola, 2021. "Evidence of speculative bubbles and regime switch in real estate market and crude oil price: Insight from Saudi Arabia," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(3), pages 3473-3483, July.

    More about this item

    Keywords

    Carbon emissions; Domestic oil consumption; Dynamic general equillibrium model; Fuel efficiency; Intenational oil price; Natural gas; Oil consumption; Oil exports; Policy development; Power generation; Renewable energy; Social welfare;
    All these keywords.

    JEL classification:

    • F0 - International Economics - - General

    NEP fields

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