The price elasticity of U.S. shale oil reserves
Author
Abstract
Suggested Citation
DOI: 10.1016/j.eneco.2017.06.021
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Lutz Kilian, 2016.
"The Impact of the Shale Oil Revolution on U.S. Oil and Gasoline Prices,"
Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 10(2), pages 185-205.
- Kilian, Lutz, 2014. "The impact of the shale oil revolution on U.S. oil and gasoline prices," CFS Working Paper Series 499, Center for Financial Studies (CFS).
- Kilian, Lutz, 2014. "The Impact of the Shale Oil Revolution on U.S. Oil and Gasoline Prices," CEPR Discussion Papers 10304, C.E.P.R. Discussion Papers.
- Lutz Kilian, 2016. "The Impact of the Shale Oil Revolution on U.S. Oil and Gasoline Prices," CESifo Working Paper Series 5723, CESifo.
- Soren T. Anderson & Ryan Kellogg & Stephen W. Salant, 2018.
"Hotelling under Pressure,"
Journal of Political Economy, University of Chicago Press, vol. 126(3), pages 984-1026.
- T. Anderson, Soren & Kellog, Ryan & W. Salant, Stephen, "undated". "Hotelling under Pressure," RFF Working Paper Series dp-14-20, Resources for the Future.
- Soren T. Anderson & Ryan Kellogg & Stephen W. Salant, 2014. "Hotelling Under Pressure," NBER Working Papers 20280, National Bureau of Economic Research, Inc.
- Lutz Kilian, 2014.
"Oil Price Shocks: Causes and Consequences,"
Annual Review of Resource Economics, Annual Reviews, vol. 6(1), pages 133-154, October.
- Kilian, Lutz, 2014. "Oil Price Shocks: Causes and Consequences," CEPR Discussion Papers 9823, C.E.P.R. Discussion Papers.
- Ryan Kellogg, 2011.
"Learning by Drilling: Interfirm Learning and Relationship Persistence in the Texas Oilpatch,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 126(4), pages 1961-2004.
- Ryan Kellogg, 2009. "Learning by Drilling: Inter-Firm Learning and Relationship Persistence in the Texas Oilpatch," NBER Working Papers 15060, National Bureau of Economic Research, Inc.
- Agerton, Mark & Hartley, Peter R. & Medlock, Kenneth B. & Temzelides, Ted, 2017.
"Employment impacts of upstream oil and gas investment in the United States,"
Energy Economics, Elsevier, vol. 62(C), pages 171-180.
- Agerton, Mark & Hartley, Peter & Medlock, Kenneth B., III & Temzelidea, Ted, 2014. "Employment Impacts of Upstream Oil and Gas Investment in the United States," Working Papers 14-004, Rice University, Department of Economics.
- Mark Agerton & Peter Hartley & Kenneth Medlock III & Ted Temzelides, 2015. "Employment Impacts of Upstream Oil and Gas Investment in the United States," IMF Working Papers 2015/028, International Monetary Fund.
- Fitzgerald, Timothy, 2015.
"Experiential Gains with a New Technology: An Empirical Investigation of Hydraulic Fracturing,"
Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 44(2), pages 1-23, August.
- Fitzgerald, Timothy, 2015. "Experiential Gains with a New Technology: An Empirical Investigation of Hydraulic Fracturing," Agricultural and Resource Economics Review, Cambridge University Press, vol. 44(2), pages 83-105, August.
- Congressional Budget Office, 2014. "The Economic and Budgetary Effects of Producing Oil and Natural Gas From Shale," Reports 49815, Congressional Budget Office.
- Gerhard Toews & Alexander Naumov, 2015. "The Relationship Between Oil Price and Costs in the Oil and Gas Industry," Economics Series Working Papers OxCarre Research Paper 15, University of Oxford, Department of Economics.
- Catherine Hausman & Ryan Kellogg, 2015.
"Welfare and Distributional Implications of Shale Gas,"
Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 46(1 (Spring), pages 71-139.
- Catherine Hausman & Ryan Kellogg, 2015. "Welfare and Distributional Implications of Shale Gas," NBER Working Papers 21115, National Bureau of Economic Research, Inc.
- Richard G. Newell & Brian C. Prest & Ashley Vissing, 2016. "Trophy Hunting vs. Manufacturing Energy: The Price-Responsiveness of Shale Gas," NBER Working Papers 22532, National Bureau of Economic Research, Inc.
- Congressional Budget Office, 2014. "The Economic and Budgetary Effects of Producing Oil and Natural Gas From Shale," Reports 49815, Congressional Budget Office.
- Gerhard Toews and Alexander Naumov, 2015. "The Relationship Between Oil Price and Costs in the Oil Industry," The Energy Journal, International Association for Energy Economics, vol. 0(Adelman S).
- M. Allais, 1957. "Method of Appraising Economic Prospects of Mining Exploration over Large Territories: Algerian Sahara Case Study," Management Science, INFORMS, vol. 3(4), pages 285-347, July.
- Svetlana Ikonnikova and Gürcan Gülen, 2015. "Impact of low prices on shale gas production strategies," The Energy Journal, International Association for Energy Economics, vol. 0(Adelman S).
- Alexander Naumov, 2015. "The Relationship Between Oil Price and Costs," OxCarre Working Papers 152, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
- Osmundsen, Petter & Rosendahl, Knut Einar & Skjerpen, Terje, 2015. "Understanding rig rate formation in the Gulf of Mexico," Energy Economics, Elsevier, vol. 49(C), pages 430-439.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Thomas R. Covert & Ryan Kellogg, 2017. "Environmental Consequences of Hydrocarbon Infrastructure Policy," NBER Working Papers 23855, National Bureau of Economic Research, Inc.
- Chen, Yan, 2021. "Evaluating the influence of energy prices on tight oil supply with implications on the impacts of COVID-19," Resources Policy, Elsevier, vol. 73(C).
- Zhang, Yue-Jun & Li, Zhao-Chen, 2021. "Forecasting the stock returns of Chinese oil companies: Can investor attention help?," International Review of Economics & Finance, Elsevier, vol. 76(C), pages 531-555.
- Apergis, Nicholas & Ewing, Bradley T. & Payne, James E., 2021. "The asymmetric relationship of oil prices and production on drilling rig trajectory," Resources Policy, Elsevier, vol. 71(C).
- Bai, Yang & Dahl, Carol, 2018. "Evaluating the management of U.S. Strategic Petroleum Reserve during oil disruptions," Energy Policy, Elsevier, vol. 117(C), pages 25-38.
- Kleinberg, R.L. & Paltsev, S. & Ebinger, C.K.E. & Hobbs, D.A. & Boersma, T., 2018. "Tight oil market dynamics: Benchmarks, breakeven points, and inelasticities," Energy Economics, Elsevier, vol. 70(C), pages 70-83.
- Smith, James L., 2018. "Estimating the future supply of shale oil: A Bakken case study," Energy Economics, Elsevier, vol. 69(C), pages 395-403.
- Ikonnikova, Svetlana A. & del Carpio Neyra, Victor & Berdysheva, Sofia, 2022. "Investment choices and production dynamics: The role of price expectations, financial deficit, and production constraints," Journal of Economics and Business, Elsevier, vol. 120(C).
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Lade, Gabriel E. & Rudik, Ivan, 2020.
"Costs of inefficient regulation: Evidence from the Bakken,"
Journal of Environmental Economics and Management, Elsevier, vol. 102(C).
- Gabriel E. Lade & Ivan Rudik, 2017. "Costs of Inefficient Regulation: Evidence from the Bakken," NBER Working Papers 24139, National Bureau of Economic Research, Inc.
- Lade, Gabriel & Rudik, Ivan, 2020. "Costs of inefficient regulation: Evidence from the Bakken," SocArXiv 3e9xk, Center for Open Science.
- Lade, Gabriel & Rudik, Ivan, 2018. "Costs of Inefficient Regulation: Evidence from the Bakken," 2018 Annual Meeting, August 5-7, Washington, D.C. 274448, Agricultural and Applied Economics Association.
- Catherine Hausman & Ryan Kellogg, 2015.
"Welfare and Distributional Implications of Shale Gas,"
Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 46(1 (Spring), pages 71-139.
- Catherine Hausman & Ryan Kellogg, 2015. "Welfare and Distributional Implications of Shale Gas," NBER Working Papers 21115, National Bureau of Economic Research, Inc.
- Khalifa, Ahmed & Caporin, Massimiliano & Hammoudeh, Shawkat, 2017. "The relationship between oil prices and rig counts: The importance of lags," Energy Economics, Elsevier, vol. 63(C), pages 213-226.
- Jaimes, Richard & Gerlagh, Reyer, 2020.
"Resource-richness and economic growth in contemporary U.S,"
Energy Economics, Elsevier, vol. 89(C).
- Richard Jaimes & Reyer Gerlagh, 2017. "Resource-Richness and Economic Growth in Contemporary U.S," CESifo Working Paper Series 6778, CESifo.
- Charles F. Mason and Gavin Roberts, 2018.
"Price Elasticity of Supply and Productivity: An Analysis of Natural Gas Wells in Wyoming,"
The Energy Journal, International Association for Energy Economics, vol. 0(Special I).
- Charles F. Mason & Gavin Roberts, 2018. "Price Elasticity of Supply and Productivity: An Analysis of Natural Gas Wells in Wyoming," The Energy Journal, , vol. 39(1_suppl), pages 79-100, June.
- Mason, Charles & Roberts, Gavin, 2017. "Price Elasticity of Supply and Productivity: An Analysis of Natural Gas Wells in Wyoming," RFF Working Paper Series 17-28, Resources for the Future.
- Rebelo, Sérgio & Krusell, Per & Bornstein, Gideon, 2017. "Lags, Costs and Shocks: An Equilibrium Model of the Oil Industry," CEPR Discussion Papers 12047, C.E.P.R. Discussion Papers.
- Shaun McRae, 2017. "Crude Oil Price Differentials and Pipeline Infrastructure," NBER Working Papers 24170, National Bureau of Economic Research, Inc.
- Arora, Vipin, 2017. "Shale and the US Economy: Three Counterfactuals," MPRA Paper 79672, University Library of Munich, Germany.
- Gideon Bornstein & Per Krusell & Sergio Rebelo, 2017. "A World Equilibrium Model of the Oil Market," NBER Working Papers 23423, National Bureau of Economic Research, Inc.
- Lutz Kilian, 2016.
"The Impact of the Shale Oil Revolution on U.S. Oil and Gasoline Prices,"
Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 10(2), pages 185-205.
- Kilian, Lutz, 2014. "The impact of the shale oil revolution on U.S. oil and gasoline prices," CFS Working Paper Series 499, Center for Financial Studies (CFS).
- Kilian, Lutz, 2014. "The Impact of the Shale Oil Revolution on U.S. Oil and Gasoline Prices," CEPR Discussion Papers 10304, C.E.P.R. Discussion Papers.
- Lutz Kilian, 2016. "The Impact of the Shale Oil Revolution on U.S. Oil and Gasoline Prices," CESifo Working Paper Series 5723, CESifo.
- Pedro Moreno Alonso & Antonio Mu oz San Roque, 2021. "Oil Costs and Prices: An Empirical Causality Analysis," International Journal of Energy Economics and Policy, Econjournals, vol. 11(3), pages 546-554.
- Shi, Xunpeng & Shen, Yifan, 2021. "Macroeconomic uncertainty and natural gas prices: Revisiting the Asian Premium," Energy Economics, Elsevier, vol. 94(C).
- Arezki, Rabah & Fetzer, Thiemo & Pisch, Frank, 2017.
"On the comparative advantage of U.S. manufacturing: Evidence from the shale gas revolution,"
Journal of International Economics, Elsevier, vol. 107(C), pages 34-59.
- Arezki, Rabah & Fetzer, Thiemo & Pisch, Frank, 2016. "On the comparative advantage of U.S. manufacturing:evidence from the shale gas revolution," LSE Research Online Documents on Economics 69026, London School of Economics and Political Science, LSE Library.
- Arezki, Rabah & Fetzer, Thiemo & Pisch, Frank, 2017. "On the comparative advantage of U.S. manufacturing: evidence from the shale gas revolution," LSE Research Online Documents on Economics 72022, London School of Economics and Political Science, LSE Library.
- Arezki, Rabah & Fetzer, Thiemo, 2016. "On the comparative advantage of U.S. manufacturing:evidence from the shale gas revolution," LSE Research Online Documents on Economics 66410, London School of Economics and Political Science, LSE Library.
- Arezki, Rabah & Fetzer, Thiemo, 2016. "On the Comparative Advantage of U.S. Manufacturing: Evidence from the Shale Gas Revolution," Economic Research Papers 269719, University of Warwick - Department of Economics.
- Arezki, Rabah & Fetzer, Thiemo, 2016. "On the Comparative Advantage of U.S. Manufacturing: Evidence from the Shale Gas Revolution," CAGE Online Working Paper Series 259, Competitive Advantage in the Global Economy (CAGE).
- Pisch, Frank & Fetzer, Thiemo & Arezki, Rabah, 2017. "On the comparative advantage of U.S. manufacturing: Evidence from the shale gas revolution," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 135678, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
- Rabah Arezki & Thiemo Fetzer & Frank Pisch, 2016. "On the Comparative Advantage of U.S. Manufacturing: Evidence from the Shale Gas Revolution," OxCarre Working Papers 167, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
- Arezki, Rabah & Fetzer, Thiemo, 2016. "On the Comparative Advantage of U.S. Manufacturing: Evidence from the Shale Gas Revolution," The Warwick Economics Research Paper Series (TWERPS) 1106, University of Warwick, Department of Economics.
- Rabah Arezki & Thiemo Fetzer & Frank Pisch, 2016. "On the comparative advantage of U.S. manufacturing: evidence from the shale gas revolution," CEP Discussion Papers dp1454, Centre for Economic Performance, LSE.
- Girard, Victoire & Kudebayeva, Alma & Toews, Gerhard, 2020. "Inflated Expectations and Commodity Prices: Evidence from Kazakhstan," GLO Discussion Paper Series 469, Global Labor Organization (GLO), revised 2020.
- Philippe Le Billon & Berit Kristoffersen, 2020. "Just cuts for fossil fuels? Supply-side carbon constraints and energy transition," Environment and Planning A, , vol. 52(6), pages 1072-1092, September.
- Unel, Bulent & Upton, Gregory B., 2023.
"Oil & gas induced economic fluctuations and self-employment,"
Labour Economics, Elsevier, vol. 82(C).
- Bulent Unel & Gregory B. Upton Jr., 2021. "Oil & Gas Induced Economic Fluctuations and Self-Employment," Departmental Working Papers 2021-04, Department of Economics, Louisiana State University.
- Tiwari, Aviral Kumar & Mukherjee, Zinnia & Gupta, Rangan & Balcilar, Mehmet, 2019.
"A wavelet analysis of the relationship between oil and natural gas prices,"
Resources Policy, Elsevier, vol. 60(C), pages 118-124.
- Aviral Kumar Tiwari & Zinnia Mukherjee & Rangan Gupta & Mehmet Balcilar, 2018. "A Wavelet Analysis of the Relationship between Oil and Natural Gas Prices," Working Papers 201831, University of Pretoria, Department of Economics.
- Richard G. Newell & Brian C. Prest, 2019.
"The Unconventional Oil Supply Boom: Aggregate Price Response from Microdata,"
The Energy Journal, , vol. 40(3), pages 1-30, May.
- Richard G. Newell and Brian C. Prest, 2019. "The Unconventional Oil Supply Boom: Aggregate Price Response from Microdata," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3).
- Richard G. Newell & Brian C. Prest, 2017. "The Unconventional Oil Supply Boom: Aggregate Price Response from Microdata," NBER Working Papers 23973, National Bureau of Economic Research, Inc.
- Ikonnikova, Svetlana A. & del Carpio Neyra, Victor & Berdysheva, Sofia, 2022. "Investment choices and production dynamics: The role of price expectations, financial deficit, and production constraints," Journal of Economics and Business, Elsevier, vol. 120(C).
- Malova, Aleksandra & van der Ploeg, Frederick, 2017. "Consequences of lower oil prices and stranded assets for Russia's sustainable fiscal stance," Energy Policy, Elsevier, vol. 105(C), pages 27-40.
More about this item
Keywords
Shale oil; Price elasticity; Drilling productivity; Lognormal distribution;All these keywords.
JEL classification:
- L71 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Hydrocarbon Fuels
- Q31 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Demand and Supply; Prices
- Q33 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Resource Booms (Dutch Disease)
- Q35 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Hydrocarbon Resources
- Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:eneeco:v:67:y:2017:i:c:p:121-135. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/eneco .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.