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Oil Demand in the Industrialized Countries

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  • Joyce Dargay
  • Dermot Gately

Abstract

This paper surveys OECD energy and oil demand over the past three decades, analyzing the different paths of transportation oil, non-transportation oil, and non-oil energy—both over time, and relative to income growth. We review both the OECD as a whole, and make regional comparisons within the OECD. We focus especially on the price-irreversibility of oil demand: why oil demand has not surged now that oil prices have returned to pre-1974 levels.

Suggested Citation

  • Joyce Dargay & Dermot Gately, 1994. "Oil Demand in the Industrialized Countries," The Energy Journal, , vol. 15(1_suppl), pages 39-67, June.
    • Handle: RePEc:sae:enejou:v:15:y:1994:i:1_suppl:p:39-67
    DOI: 10.5547/ISSN0195-6574-EJ-Vol15-NoSI-4
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    References listed on IDEAS

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    1. Rudolf Wolffram, 1971. "Positivistic Measures of Aggregate Supply Elasticities: Some New Approaches—Some Critical Notes," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 53(2), pages 356-359.
    2. Javier F. Mory, 1993. "Oil Prices and Economic Activity: Is the Relationship Symmetric?," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 151-162.
    3. Robert S. Pindyck, 1979. "The Structure of World Energy Demand," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262661772, December.
    4. Dermot Gately, 1992. "Imperfect Price-Reversibility of U.S. Gasoline Demand: Asymmetric Responses to Price Increases and Declines," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 179-208.
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