The North American natural gas liquids markets are chaotic

Journal Article · Fri Jan 01 04:00:00 EST 1999 · Energy Journal

DOI:https://doi.org/10.5547/ISSN0195-6574-EJ-Vol20-No1-5· OSTI ID:6451540

Serletis, A; Gogas, P ^[1]

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1. Univ. of Calgary, Alberta (Canada). Dept. of Economics

In this paper the authors test for deterministic chaos (i.e., nonlinear deterministic processes which look random) in seven Mont Belview, Texas hydrocarbon markets, using monthly data from 1985:1 to 1996:12--the markets are those of ethane, propane, normal butane, iso-butane, naptha, crude oil, and natural gas. In doing so, they use the Lyapunov exponent estimator of Nychka, Ellner, Gallant, and McCaffrey. They conclude that there is evidence consistent with a chaotic nonlinear generation process in all five natural gas liquids markets.

• OSTI ID: 6451540
• Journal Information: Energy Journal, Journal Name: Energy Journal Vol. 20:1; ISSN ENJODN; ISSN 0195-6574
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290201 -- Energy Planning & Policy-- Economics-- (1992-)
294003* -- Energy Planning & Policy-- Natural Gas
ALKANES
BUTANE
DISTILLATES
ECONOMIC ANALYSIS
ECONOMICS
ENERGY SOURCES
ETHANE
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
HYDROCARBONS
LIQUEFIED GASES
LIQUEFIED NATURAL GAS
MARKET
NAPHTHA
NATURAL GAS
ORGANIC COMPOUNDS
PETROLEUM
PROPANE