气候变化领域集成服务门户(CCPortal): Maritime piracy in the Strait of Hormuz and implications of energy export security

CCPortal

DOI	10.1016/j.enpol.2020.111379
	Maritime piracy in the Strait of Hormuz and implications of energy export security
	Shepard J.U.; Pratson L.F.
发表日期	2020
ISSN	03014215
卷号	140
英文摘要	Persian Gulf Countries (PGC) are collectively the world's largest exporter of fuels. The vast majority of these fuels are shipped via maritime routes and require transit through the Strait of Hormuz. As such, the Strait of Hormuz is considered the most important chokepoint for the global energy economy. This study examines the effect of maritime piracy through this chokepoint on exports of specific fuels from each PGC. We classify piracy as a soft restriction in the Strait; the effect of a such a restriction depends on the risk sensitivities of the trading countries and the type of fuel being traded. We use a two-stage least squares regression to first estimate the impact of piracy attacks on tanker traffic through the Strait, and then estimate the risk that the restriction would pose to energy exports. The first stage of the analysis reveals that tanker transit declines two years after piracy attacks. The second stage of the analysis, however, indicates that only refined petroleum exports from Bahrain and Kuwait are significantly impacted. We discuss drivers of this heterogeneity, including underlying market structures that allow crude oil to remain relatively resilient to soft restrictions. We then discuss policy implications of this risk to global energy security. © 2020 Elsevier Ltd
关键词	Crude oil exports Energy security Maritime piracy Petroleum trade Strait of Hormuz
英文关键词	Commerce; Crime; Crude oil; Energy security; Gasoline; Petroleum refining; Public policy; Risk perception; Crude oil exports; Energy exports; Maritime piracy; Market structures; Policy implications; Risk sensitivity; Strait of Hormuz; Two stage least squares; Petroleum analysis; crude oil; export; maritime trade; piracy; Bahrain; Kuwait [Middle East]; Strait of Hormuz
语种	英语
来源期刊	Energy Policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/204859
作者单位	Nicholas School of the Environment, Duke University, Durham, NC 27708, United States
推荐引用方式 GB/T 7714	Shepard J.U.,Pratson L.F.. Maritime piracy in the Strait of Hormuz and implications of energy export security[J],2020,140.
APA	Shepard J.U.,&Pratson L.F..(2020).Maritime piracy in the Strait of Hormuz and implications of energy export security.Energy Policy,140.
MLA	Shepard J.U.,et al."Maritime piracy in the Strait of Hormuz and implications of energy export security".Energy Policy 140(2020).