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Natural Gas and U.S. Economic Activity

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  • Vipin Arora
  • Jozef Lieskovsky

Abstract

Previous empirical work has shown that real natural gas prices have a negligible impact on total U.S. industrial production and most of its sub-indices. We reassess these conclusions using a multivariate framework and a time-frame that includes recent developments in the U.S. natural gas market. Our results show that natural gas does affect U.S. economic activity, primarily through changes in its production. The shale gas revolution has changed this relationship—a one percentage point increase in natural gas supply raises total U.S. industrial production by more after 2008 than before.

Suggested Citation

  • Vipin Arora & Jozef Lieskovsky, 2014. "Natural Gas and U.S. Economic Activity," The Energy Journal, , vol. 35(3), pages 167-182, July.
    • Handle: RePEc:sae:enejou:v:35:y:2014:i:3:p:167-182
    DOI: 10.5547/01956574.35.3.8
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    References listed on IDEAS

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    1. Weber, Jeremy G., 2012. "The effects of a natural gas boom on employment and income in Colorado, Texas, and Wyoming," Energy Economics, Elsevier, vol. 34(5), pages 1580-1588.
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