G2TT
来源类型Discussion paper
规范类型论文
来源IDDP11876
DP11876 How the Tight Oil Boom Has Changed Oil and Gasoline Markets
Lutz Kilian
发表日期2017-02-24
出版年2017
语种英语
摘要Starting in late 2008, the U.S. production of tight oil surged, causing a renaissance in the U.S. oil sector that few industry analysts had anticipated. This tight oil boom reduced the dependence of the United States on petroleum imports and allowed it to become a major exporter of gasoline and diesel fuel. Since mid-2014 the global real price of crude oil has experienced a large and sustained decline. This review article addresses several questions of general interest. First, to what extent was the recent oil price decline caused by the tight oil boom? Second, how did the tight oil boom affect the price of gasoline in global markets and in the United States? Third, what determines the investment response of the oil sector to oil price fluctuations? Fourth, how has the tight oil boom affected the transmission of oil price shocks to the U.S. economy? Finally, what are the implications of the U.S. tight oil boom for European oil importing economies?
主题International Macroeconomics and Finance
关键词Tight oil Shale oil Oil price Gasoline price Oil investment Real gdp growth
URLhttps://cepr.org/publications/dp11876
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/540688
推荐引用方式
GB/T 7714
Lutz Kilian. DP11876 How the Tight Oil Boom Has Changed Oil and Gasoline Markets. 2017.
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