Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002

Daily Archives: May 20, 2014

Asia’s Oil Supply: Risks and Pragmatic Remedies

Research Paper - John Mitchell, May 2014 - “Asia is more at risk from disruption of Middle East oil supplies than is either Europe or the United States, yet as a whole it is less prepared to deal with such an upheaval. This paper analyses the risks that major Asian importers would face if oil supplies through the Strait of Hormuz were disrupted on a large scale – for example, if 10 million barrels a day (mbd) were interrupted for 90 days. It does not discuss the many possible causes of such a disruption, nor does it speculate on political or other responses in the Gulf or explore what might be the various medium-term developments in price, demand and supply. But it does discuss the capacity of Asian countries to maintain oil supplies for longer periods of disruption by drawing down stocks or using financial reserves to outbid competing importers for the limited supplies available. Every Asian government would inevitably respond to a major disruption of oil supplies. Uncertainty about governments’ interventions would add to the risk premium generated by uncertainty about physical supplies. This paper identifies priorities for policies to mitigate these uncertainties. The supply risk for liquefied natural gas (LNG) is different from the oil supply risk for Asia and is touched on only briefly in this paper. This paper identifies five priorities in the development of policies to mitigate these uncertainties:

  • Establishing a process involving the IEA, China and India to facilitate a very rapid and convincing announcement of a coherent response to any major disruption in Middle East oil supplies;
  • Further developing schemes by which exporting national oil companies (NOCs) hold stocks in importing countries;
  • Clarifying the policies of crude and oil-product exporters for allocating supplies between domestic consumption, exports and bunkers when those supplies are curtailed by disruption, especially in Asian product-exporting countries;
  • Developing mechanisms to target a rapid release of emergency stocks to companies affected by force majeure disruptions; and
  • Promoting government and industry cooperation at the national level to ensure continuity of supply to consumers in the event of disruption.”

Public High School Four-Year On-Time Graduation Rates and Event Dropout Rates

National Center for Education Statistics - Public High School Four-Year On-Time Graduation Rates and Event Dropout Rates: School Years 2010–11 and 2011–12 (April 28, 2014) “This report includes four-year on-time graduation rates and dropout rates for school years 2010-11 and 2011-12. A four-year on-time graduation rate provides measure of the percent of students that successfully complete highContinue Reading

Psychological Perspectives: Cognition and Decision Making

Findley, Keith A. and O’Brien, Barbara, Psychological Perspectives: Cognition and Decision Making (May 19, 2014). Chapter Three in Examining Wrongful Convictions: Stepping Back, Moving Forward, Carolina Academic Press, 2014 Forthcoming. Available at SSRN: http://ssrn.com/abstract=2438869 “In this chapter from the forthcoming edited volume entitled, EXAMINING WRONGFUL CONVICTIONS: STEPPING BACK, MOVING FORWARD, we offer an overview of whatContinue Reading

Wired – new feature for Google+ Photos called Stories

“Stories is a new Google+ Photos feature that automates photo album creation. It collects your photos and videos into natural groupings–like a weekend trip you took to the mountains, or a child’s soccer game–clustered around out-of-the ordinary moments. Then it builds a narrative for you around those clusters of photos, almost instantly and without anyContinue Reading

European Banking Authority publishes its 2013 annual report

“This edition of the EBA Annual Report takes stock of the first three years of activity of the Authority which contributed to the repair of the EU banking system by promoting the cleaning of EU banks’ balance sheets and strengthening their capital position. The EBA also brought forward its work on the development of aContinue Reading

International Trade, Risk, and the Role of Banks

Federal Reserve Bank of New York Staff Reports – Friederike Niepmann, Tim Schmidt-Eisenlohr. Staff Report No. 633. September 2013 , Revised April 2014 “Banks play a critical role in facilitating international trade by guaranteeing international payments and thereby reducing the risk of trade transactions. This paper employs banking data from the United States to document new empirical patterns regardingContinue Reading

Global liquidity regulation, supervision and risk management

Keynote address by Mr Stefan Ingves, Chairman of the Basel Committee on Banking Supervision and Governor of Sveriges Riksbank, to the DNB seminar “Liquidity risk management – the LCR and beyond”, Amsterdam, the Netherlands, 15 May 2014. As prepared for delivery –  “Good afternoon. It is my great pleasure to be with you in Amsterdam today atContinue Reading

New GAO Reports – Federal Autism Activities, Medicare, Nanomanufacturing, Tax Policy

FEDERAL AUTISM ACTIVITIES: Funding and Coordination Efforts, GAO-14-613T: Published: May 20, 2014. Publicly Released: May 20, 2014. MEDICARE: Further Action Could Improve Improper Payment Prevention and Recoupment Efforts, GAO-14-619T: Published: May 20, 2014. Publicly Released: May 20, 2014. NANOMANUFACTURING AND U.S. COMPETITIVENESS: Challenges and Opportunities, GAO-14-618T: Published: May 20, 2014. Publicly Released: May 20, 2014. STATE DEPARTMENT: Process to Track Responses toContinue Reading

FDA Provides Latest Information on Jerky Pet Treat Investigation

News release: “The U.S. Food and Drug Administration is providing an update on its ongoing investigation into pet illnesses and deaths in animals that ate jerky pet treats. This update includes the latest information about complaints of illnesses, FDA’s collaboration with the CDC on a new case control study, and new findings revealed through theContinue Reading