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This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.
"A detailed historical narrative of the U.S. energy crisis in the 1970s and how policymakers responded to the turmoil"--
Specifically for the pump user, this book concentrates on the identification and solution of problems associated with existing centrifugal pumps. It gives specific examples on how to modify pump performance for increased efficiency and better quality control, which turn into long-term cost savings. Some basic theory is included to give the reader greater understanding of the problems being encountered and attacked.
Oil on the Brain is a smart, surprisingly funny account of the oil industry—the people, economies, and pipelines that bring us petroleum, brilliantly illuminating a world we encounter every day. Americans buy ten thousand gallons of gasoline a second, without giving it much of a thought. Where does all this gas come from? Lisa Margonelli’s desire to learn took her on a one-hundred thousand mile journey from her local gas station to oil fields half a world away. In search of the truth behind the myths, she wriggled her way into some of the most off-limits places on earth: the Strategic Petroleum Reserve, the New York Mercantile Exchange’s crude oil market, oil fields from Venezuela, to Texas, to Chad, and even an Iranian oil platform where the United States fought a forgotten one-day battle. In a story by turns surreal and alarming, Margonelli meets lonely workers on a Texas drilling rig, an oil analyst who almost gave birth on the NYMEX trading floor, Chadian villagers who are said to wander the oil fields in the guise of lions, a Nigerian warlord who changed the world price of oil with a single cell phone call, and Shanghai bureaucrats who dream of creating a new Detroit. Deftly piecing together the mammoth economy of oil, Margonelli finds a series of stark warning signs for American drivers.
A major revision of McGraw-Hill's classic handbook that provides practical data and know-how on the design, application, specification, purchase, operation, troublshooting, and maintenance of pumps of every type. It is an essential working tool for engineers in a wide variety of industries all those who are pump specialists, in addition to those who need to acquaint themselves with pump technology. Contributed to by over 75 distinguished professionals and specialists in each and every area of practical pump technology.
Providing a wealth of information on pumps and pump systems, Pump Characteristics and Applications, Third Edition details how pump equipment is selected, sized, operated, maintained, and repaired. The book identifies the key components of pumps and pump accessories, introduces the basics of pump and system hydraulics as well as more advanced hydraulic topics, and details various pump types, as well as special materials on seals, motors, variable frequency drives, and other pump-related subjects. It uses example problems throughout the text, reinforcing the practical application of the formulae and analytical presentations. It also includes new images highlighting the latest generation of pumps and other components, explores troubleshooting options, and incorporates relevant additions into the existing chapters. What’s New in This Edition: Includes more than 150 full-color images which significantly improve the reader’s ability to understand pump drawings and curves Introduces a new chapter on pump case studies in a format that provides case study background, analysis, solutions, and lessons learned Presents important new updates and additions to other chapters Includes a ten-step procedure for determining total pump head Discusses allowable and preferred operating ranges for centrifugal pumps Provides charts covering maximum and normally attainable pump efficiencies, performance corrections for slurry pumps, and mechanical seal flush plans Pump Characteristics and Applications, Third Edition is appropriate for readers with all levels of technical experience, including engineering and pump industry professionals, pump operators and maintenance technicians, upper-level undergraduate and graduate students in mechanical engineering, and students in engineering technology programs.
From the owner of the largest gas pump literature collection in the United States comes the most comprehensive identification and price guide available on collectible gas pumps. Petroliana collectors will find models from every known gas pump manufacturer from 1885 to 1965 in this full-color volume. Listings detail manufacturer, pump model number, years in production, original cost, brief description and history, and current market value. This illustrated reference guide features more than 1,400 images from original petroleum literature. Some of the companies listed include Acme Pump & Tank Company, Chicago Steel Tank Company, Erie Pump Company, United States Pump & Tank Company, and Wayne Tank & Pump Company.