Shale revolution, oil and gas prices, and drilling activities in the United States

نویسندگان

چکیده

We investigate the interplay between energy prices and drilling activities in United States how this relationship has evolved due to shale revolution. hypothesize that (1) there exists significant information spillover prices; (2) amount of transmitted increased since boom; (3) natural gas market is increasingly important transmitter rise unconventional oil production. Using connectedness indexes constructed based on vector autoregressive models data from 1997 2019, we find support for all three hypotheses. In particular, linkage activities, measured by active rotary rigs operation, US strengthened 2012. Oil have become more responsive price variations during However, rig count declined when fluctuated a relatively stable range toward end sample period. contrast, counts same time frame.

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ژورنال

عنوان ژورنال: Energy Economics

سال: 2022

ISSN: ['1873-6181', '0140-9883']

DOI: https://doi.org/10.1016/j.eneco.2022.105877