Economic analysis of the US unconventional oil and gas revolution

Mathilde Mathieu, Thomas Spencer, Oliver Sartor 22 March 2014

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The recent rapid growth in the production of unconventional oil and gas (shale gas and tight oil) in the US has led to a significant decrease of natural gas prices as well as reduced oil imports. This has raised questions about the impacts of the unconventional oil and gas revolution on the US macroeconomy, industrial competitiveness, and energy sector. It has also raised questions about its implications for the EU (e.g. Beffa and Cromme 2013).

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Topics:  Energy Environment

Tags:  energy, US, environment, oil, gas, shale gas, fracking, tight oil, energy independence

Diversifying Russia

Simon Commander, Alexander Plekhanov 29 January 2013

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Russia aims to diversify its economy, thereby moving away from its dependence on oil and gas. Despite much political rhetoric, our research (European Bank for Reconstruction and Development 2012) indicates that, to date, relatively little has been achieved. Oil and gas still account for nearly 70% of total merchandise exports and around a half of the federal budget. Figure 1 shows the increasing share of minerals in total exports when measured in constant prices.

Figure 1. Russia: Structure of exports in real terms (at constant prices)

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Topics:  Development

Tags:  Russia, education, skills, oil, gas, economic diversification

Why does gasoline cost so much?

Lutz Kilian 29 July 2008

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At the end of 2007, both gasoline and crude oil prices (adjusted for inflation) were at levels last seen in 1981 and they continued to climb throughout much of 2008. While Europe has been cushioned in part from these developments, as the dollar depreciated against the euro, the fundamental forces that drove up US gasoline prices have done the same in Europe.

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Topics:  Energy

Tags:  oil, gas

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