A conditional value-at-risk approach to studying the sustainable crude oil supply chains evolved due to change in government policies Online publication date: Mon, 16-Dec-2024
by Davoud Ghahremanlou; Wieslaw Kubiak
International Journal of Operational Research (IJOR), Vol. 51, No. 4, 2024
Abstract: Recently US oil and bioethanol industries have faced drastic economic damage due to the 2020 Saudi Arabia-Russia oil price war and coronavirus disease (COVID-19), resulting in many bankruptcies. Government policies have brought these two main industries together to ensure sustainable crude oil supply chains, to combat global warming and energy insecurity. This motivated us to extend the study of Ghahremanlou and Kubiak (2021a) to protect the current and new SCOSCs against financial risks during economic crises by providing insights for the government and the investors, working to rescue the industries. We employ conditional value-at-risk, and develop a two-stage stochastic programming model. We perform a case study of the State of Nebraska by carrying out a computational experiment with 10,710 different policy scenarios. We recommend robust strategic investment decisions to businesses during policy changes within economic crises. We also identify resilient strategic investment decisions.
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Operational Research (IJOR):
Login with your Inderscience username and password:
Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.
If you still need assistance, please email subs@inderscience.com
Our Blog 
Follow us on Twitter 
Visit us on Facebook