Half Title Page -- Title Page -- Copyright -- Contents -- Foreword -- Acknowledgments -- Abbreviations -- Units of Measure -- Executive Summary -- Oil Price Evolution and Risk Exposure -- Who Bears the Risk Burden? -- Reducing Short-Term Price Uncertainty -- Reducing Oil Consumption over the Long Run -- What Can Be Done -- How Much Can It Help? -- Chapter 1 Introduction -- Effects of High and Volatile Oil Prices -- Study Background and Objective -- Structure of This Report -- Notes -- References -- Chapter 2 Economic Effects of High and Volatile Oil Prices -- Effects of High Oil Prices -- Effects of Oil Price Volatility -- What Is the Risk Distribution? -- Summary Remarks -- Notes -- References -- Chapter 3 Economic Indicators of Vulnerability: Analysis of Latin America and the Caribbean -- Oil Trade Dynamics -- Oil Exporter versus Importer -- Dynamics of Oil Price Hikes and Subsidies -- Summary Remarks -- Notes -- References -- Chapter 4 Managing Oil Price Dynamics in the Power Sector: Experience in Latin America and the Caribbean -- Oil-Dependent Energy Mix and Cost of Power Generation -- Distribution of Costs and Risks -- Economic Impacts on the Sector -- Summing Up -- Note -- Reference -- Chapter 5 Price Risk Management Instruments -- Overview of Instruments -- Risk Assessment -- Hedging Possibilities for Power Market Agents -- Institutional Frameworks for Commodity Risk Management -- Conclusion -- Notes -- References -- Chapter 6 Diversifying from Oil-Fired Power Generation -- Potential for Non-Oil Generation: Central America and the Caribbean -- Potential Avoided Impact from Oil-Fired Generation -- Summary Remarks -- Notes -- References -- Chapter 7 Investing in Energy Efficiency -- Supply-Side Efficiency -- Demand-Side Efficiency -- Better Energy Efficiency: Effect on Investment and Oil Consumption.

Overcoming Barriers to Energy Efficiency: Policy Instruments -- Summary Remarks -- Notes -- References -- Chapter 8 Regional Energy Integration -- Regional Integration in Electricity -- Natural Gas -- Conclusion -- Notes -- References -- Chapter 9 How Much Can It Help? -- Review: Effects of High and Volatile Oil Prices -- Reducing Oil Dependence -- What Can Be Gained -- Summing Up -- Note -- References -- Chapter 10 Conclusions -- Appendix A Country Development Indicators -- References -- Appendix B World Bank Advisory Services: Managing Oil Price Exposure and Implementing Risk Management Strategies -- Approach -- Needs Assessment -- Advisory Engagement -- Appendix C Accounting for Fuel Price Risk in Power System Planning: Case Studies in the Dominican Republic and Honduras -- Methodology -- Notes -- Reference -- Bibliography -- Back Cover.