Open AccessTIME-SERIES ANALYSIS OF PRICE INTERRELATIONS IN MAJOR U.S. FOSSIL FUELS MARKETS
Author(s) -
Dragan Miljković,
Nate Dalbec
Publication year - 2017
Publication title -
energy studies review
Language(s) - English
Resource type - Journals
ISSN - 0843-4379
DOI - 10.15173/esr.v23i1.3314
Subject(s) - economics , fossil fuel , liberian dollar , coal , natural gas , stock (firearms) , natural gas prices , us dollar , oil price , crude oil , oil and natural gas , per capita , monetary economics , natural resource economics , financial economics , exchange rate , chemistry , petroleum engineering , finance , geography , geology , population , demography , archaeology , organic chemistry , sociology
The objective of this study is to analyze price movements and interrelations of U.S natural gas, oil, and coal prices, as three main fossil fuels in the US. Structural break were identified in both natural gas and oil prices in February of 2009, at the peak of U.S. financial crisis. Both natural gas and oil are shown to be weak substitutes for coal, while the opposite relationships are not found. Stronger U.S. dollar led to lower fossil fuel prices, while only oil prices have been shown to depend on movement of income per capita and stock market.