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Welcome to EME 801: Energy Markets, Policy, and Regulation

Lesson 10 - National and Global Markets for Petroleum and Natural Gas

Lesson 10 Overview
Introduction to Global Markets for Crude Oil
Beginnings of a Market to 1970
OPEC Seizes Control: The Energy Crisis and the Arab Oil Embargoes of 1973 and 1979
Current World Oil Market
Future Markets for Crude Oil
Are We Running Out of Oil?
The Process of Crude Oil Refining
Futures Contracts for Refined Petroleum Products
Characteristics of Natural Gas
Basic Drivers of Natural Gas Demand
Evolution and Structure of Natural Gas Markets
Lesson 10 Summary and Final Tasks
Lesson 10 Appendix

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Welcome to EME 801: Energy Markets, Policy, and Regulation

Course materials prepared by Seth Blumsack and Mark Kleinginna, College of Earth and Mineral Sciences, The Pennsylvania State University.

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