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来源类型Working Paper
规范类型报告
DOI10.3386/w24170
来源IDWorking Paper 24170
Crude Oil Price Differentials and Pipeline Infrastructure
Shaun McRae
发表日期2018
出版年2018
语种英语
摘要Crude oil production in the United States increased by nearly 80 percent between 2008 and 2016, mostly in areas that were far from existing refining and pipeline infrastructure. The production increase led to substantial discounts for oil producers to reflect the high cost of alternative transportation methods. I show how the expansion of the crude oil pipeline network reduced oil price differentials, which fell from a mean state-level difference of $10 per barrel in 2011 to about $1 per barrel in 2016. Using data for the Permian Basin, I estimate that the elimination of pipeline constraints increased local prices by between $6 and $11 per barrel. Slightly less than 90 percent of this gain for oil producers was a transfer from existing oil refiners and shippers. Refiners did not pass on these higher costs to consumers in the form of higher gasoline prices.
主题Industrial Organization ; Industry Studies ; Environmental and Resource Economics ; Energy
URLhttps://www.nber.org/papers/w24170
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/581844
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Shaun McRae. Crude Oil Price Differentials and Pipeline Infrastructure. 2018.
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