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PublisherThe University of Arizona.
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AbstractThis work studies the effect of a new sulfur regulation introduced by the International Maritime Organization on January 1st, 2020. The goal of this regulation was to reduce the amount of sulfur in emissions from large ocean going vessels to 0.5%. A reduction in bunker demand was attributed to an increase in diesel demand due to the fact that a middle distillate (combination of diesel and residual) is most likely to pick up slack in the market. Changes in price and criteria pollutants were analyzed. Three scenarios were investigated, a 50%, 75% and 100% reduction in bunker demand. Preliminary analyses showed that sulfur oxides would have the greatest reduction, followed by carbon monoxide. Data after January 2020 was going to be used as a post analysis to see how the respective markets were affected. Due to the oil price war between the Saudis and Russians, and the Coronavirus, oil consumption data has been tainted, making an analysis of the effects nearly impossible. Confounding factors were discussed and related to the analysis.
Degree ProgramResource Economics