Reliance energy

摘要

Oil markets work well when they are allowed to. Major unexpected disruptions to energy infrastructure over the last month, first in Libya, then after the tragic and devastating earthquake in Japan, have shown this. Clear price signals from spot markets have allowed oil supply to be allocated efficiently. Refining capacity has either been turned down in the Mediterranean or turned up in Asia in response to the different crises. Nascent markets, such as LNG which prom- ises to make natural gas trade global, can learn much from how the oil market has responded.