The U.S. fracking boom: Impact on oil prices

Arbeitspapier

As of late 2008, the steady decline of U.S. crude oil production over the last decades was reversed by the increased adoption of the hydraulic fracturing ("fracking") technology. Adapting the supply-side model proposed by Kaufmann et al. (2004) to assess OPEC's ability to influence real oil prices, this paper investigates the effect of the increase in U.S. oil production due to fracking on world oil prices. Among our key results obtained from (dynamic) OLS estimations, there is a statistically significant negative long-run relationship between increased U.S. oil production and oil prices.

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• ISBN: 978-3-86788-922-3
• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Ruhr Economic Papers ; No. 794

Classification and Topics

• Classification: Wirtschaft ; Energy: Demand and Supply; Prices ; Exhaustible Resources and Economic Development ; Mining, Extraction, and Refining: Hydrocarbon Fuels
• Subject: dynamic OLS ; error correction model ; shale oil

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Frondel, Manuel ; Horvath, Marco
• Event: Veröffentlichung
• (who): RWI - Leibniz-Institut für Wirtschaftsforschung
• (where): Essen
• (when): 2019

Further information

• DOI: doi:10.4419/86788922
• Handle: http://hdl.handle.net/10419/194808