동북아 오일허브의 전략적 접근

• 영문명: A Strategic Approach to Northeast Asia Oil Hub
• 발행기관: 한국동북아경제학회
• 저자명: 백 훈(Hoon Paik)
• 간행물 정보: 『동북아경제연구』東北亞經濟硏究 第21卷 第2號, 1~31쪽, 전체 31쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2009.08.31

영문 초록

The world commodity markets have experienced increased volatility in prices of key commodities. More significantly, recent data on oil prices show that volatility measured in terms of the standard deviations of annual percentage changes have increased by more than 10 percent since the middle of 1990s. Oil price increases bring about negative effects to the economy and businesses by decreasing investment, production and income. However, oil price decreases seldom result in as much positive effects to the economy; hence asymmetry effects of oil price changes prevail. This increased oil price volatility imposes a serious threat to the world economy, especially to the Korean economy that is heavily dependent upon oil imports. Building storages of oil product can be an effective measurement to deal with this problem since Korea enjoys world s number six largest capacity of oil refining with more than four hundred twenty thousand barrels of oil product surplus every day. An oil hub is considered as an integrated oil trading system rather than a mere logistic hub since trading capacity must be fulfilled to create enough liquidity. Without liquidity, even a large site of storages can not function as an oil hub. The European oil hub, ARA, is a practical example of how two nations can cooperate to create enough liquidity of oil products for an oil hub. Rather than emphasizing national pride in the matter, this study shows three strategic and practical programs to create necessary liquidity for Northeast Asia oil hub by promoting international cooperation among Korea, Japan and China. First, three nations can operate a pricing window such as Platts for oil traders in the region. Second, an electronic clearing house can be incorporated to connect three separate members clearing houses electronically. Finally, a common surveillance system to regulate speculative demands in the regional oil market can be constructed by three countries. These measures will increase transparency, predictability and stability in the market for oil products in the region which will lead to increased liquidity.

목차

Ⅰ. 서 론

Ⅱ. 석유가격의 변동성과 오일허브

Ⅲ. 오일허브의 구조와 요건

Ⅳ. 동북아 오일허브의 전략

V. 결 론

키워드

석유가격 변동의 비대칭성 동북아 오일허브(Oil hub) 청산기구(Clearing House) Platts MOPS Oil Price Volatility Northeast Asia Oil Hub Clearing House Platts Mops(The Mean of Platts Singapore)