Tag: oil and gas competition

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This paper studies Tesoro’s 2013 acquisition of British Petroleum’s Los Angeles refinery. We present a merger simulation model tailored to the gasoline market, which includes Cournot firms and a price-taking fringe. This hybrid model generates margins that are more plausible than...
This paper considers a previously unexamined increase in excise taxes on gasoline and diesel fuel that were part of Washington State’s Nickel Funding Package of 2003.  We fail to reject full pass-through of the amount of the tax increase to retail prices in both products.  We find no...
This paper considers the effects of refinery outages (due to planned turn-arounds or unplanned events) on current petroleum product prices and future refinery investment. Empirical evidence on these relationships is mixed and highly dependent on the size and duration of the outage,...