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Concentration trends in the Gulf of Mexico oil and gas industry

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  • Mason, Charles F.

Abstract

In this paper, I evaluate patterns of concentration in the Gulf of Mexico oil and gas industry, one of the most important sectors for US production over the past few decades. In the 1990s, production in the Gulf was quite concentrated, and was dominated by large oil companies. But over the past decade or so this concentration has eroded, with recent levels consistent with an unconcentrated industry. These patterns apply for drilling and leasing as well, and are relevant to both shallow and deep water. The overall picture is an industry with strong competition for leases, drilling and production.

Suggested Citation

  • Mason, Charles F., 2015. "Concentration trends in the Gulf of Mexico oil and gas industry," LSE Research Online Documents on Economics 64415, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:64415
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    References listed on IDEAS

    as
    1. Mason, Charles F., 2014. "The Organization of the Oil Industry, Past and Present," Foundations and Trends(R) in Microeconomics, now publishers, vol. 10(1), pages 1-83, June.
    2. Andreas Pyka & Paul Windrum, 2003. "The self-organisation of strategic alliances," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 12(3), pages 245-268.
    3. Hendricks, Kenneth & Porter, Robert H, 1992. "Joint Bidding in Federal OCS Auctions," American Economic Review, American Economic Association, vol. 82(2), pages 506-511, May.
    4. Kaiser, Mark J. & Yu, Yunke, 2010. "The impact of Hurricanes Gustav and Ike on offshore oil and gas production in the Gulf of Mexico," Applied Energy, Elsevier, vol. 87(1), pages 284-297, January.
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    Cited by:

    1. Gilbert E. Metcalf, 2018. "The Impact of Removing Tax Preferences for US Oil and Natural Gas Production: Measuring Tax Subsidies by an Equivalent Price Impact Approach," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 5(1), pages 1-37.
    2. Rubio-Varas, Mar & Muñoz-Delgado, Beatriz, 2019. "Long-term diversification paths and energy transitions in Europe," Ecological Economics, Elsevier, vol. 163(C), pages 158-168.

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    More about this item

    Keywords

    petroleum economics; concentration;

    JEL classification:

    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation

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