Professor, Director of the Robert A. Mosbacher Institute for Trade, Economics and Public Policy, and Bob Bullock Chair in Public Policy and Finance.
Prof. Griffin has maintained a long-standing interest in energy policy, having co-authored the leading textbook in the field. Most recently, he wrote A Smart Energy Policy: An Economist's Rx for Balancing Cheap, Clean, and Secure Energy published by Yale University Press. His research has resulted in six books and over 50 refereed journal articles.
This course will provide an insightful overview of the ways that oil has become not just relevant but of fundamental importance to the world.
Drawing on extensive high level experience as an economist, Prof. Griffin will share his views on the nature of the world oil market. Prices are an important element of any market, and some thoughts will be given as to the future of oil prices - and their implications.
With oil, the debates surrounding energy security (loosely defined as the ability of a country to supply it's own energy) become more obvious, especially within Asia, given the huge oil imports of Japan and China.
Slides 1: World oil here. (Available only after the lecture)
Slides 2: Oil security here. (Available only after the lecture)
Reading 1: Griffin SEP Oil Security here.
Reading 2: Griffin/Neilson - What does game theory add? here.
Reading 3: Griffin SEP - End of Cheap Oil (Ch. 2) here.
Reading 4: SmithWorld Oil Market or Mayhem (Ch. 2) here.
Reading 5: Verleger A Primer on Oil Prices (Ch. 2) here.