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来源类型Working Paper
规范类型报告
DOI10.3386/w22532
来源IDWorking Paper 22532
Trophy Hunting vs. Manufacturing Energy: The Price-Responsiveness of Shale Gas
Richard G. Newell; Brian C. Prest; Ashley Vissing
发表日期2016-08-22
出版年2016
语种英语
摘要We analyze the relative price elasticity of unconventional versus conventional natural gas extraction. We separately analyze three key stages of gas production: drilling wells, completing wells, and producing natural gas from the completed wells. We find that the important margin is drilling investment, and neither production from existing wells nor completion times respond strongly to prices. We estimate a long-run drilling elasticity of 0.7 for both conventional and unconventional sources. Nonetheless, because unconventional wells produce on average 2.7 times more gas per well than conventional ones, the long-run price responsiveness of supply is almost 3 times larger for unconventional compared to conventional gas.
主题Microeconomics ; Households and Firms ; Industrial Organization ; Industry Studies ; Environmental and Resource Economics ; Energy
URLhttps://www.nber.org/papers/w22532
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/580206
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Richard G. Newell,Brian C. Prest,Ashley Vissing. Trophy Hunting vs. Manufacturing Energy: The Price-Responsiveness of Shale Gas. 2016.
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