全球智库信息集成服务系统(G2TT): Crude by Rail, Option Value, and Pipeline Investment

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w23855
来源ID	Working Paper 23855
	Crude by Rail, Option Value, and Pipeline Investment
	Thomas R. Covert; Ryan Kellogg
发表日期	2017-09-25
出版年	2017
语种	英语
摘要	The U.S. shale boom has profoundly increased crude oil movements by both pipelines–the traditional mode of transportation–and railroads. This paper develops a model of how pipeline investment and railroad use are determined in equilibrium, emphasizing how railroads' flexibility allows them to compete with pipelines. We show that policies that address crude-by-rail's environmental externalities by increasing its costs should lead to large increases in pipeline investment and substitution of oil flows from rail to pipe. Similarly, we find that policies enjoining pipeline construction would cause 80-90% of the displaced oil to flow by rail instead.
主题	Industrial Organization ; Market Structure and Firm Performance ; Industry Studies ; Environmental and Resource Economics
URL	https://www.nber.org/papers/w23855
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/581528
推荐引用方式 GB/T 7714	Thomas R. Covert,Ryan Kellogg. Crude by Rail, Option Value, and Pipeline Investment. 2017.