Mason, Charles F., Muehlenbachs, Lucija A. and Olmstead, Sheila M. (2015) The economics of shale gas development. Annual Review of Resource Economics, 7 (1). pp. 269-289. ISSN 1941-1340
Full text not available from this repository.Abstract
In the past decade, innovations in hydraulic fracturing and horizontal drilling have fueled a boom in the production of natural gas (as well as oil) from geological formations—primarily deep shales—in which hydrocarbon production was previously unprofitable. Impacts on US fossil fuel production and the US economy more broadly have been transformative, even in the first decade. The boom has been accompanied by concerns about negative externalities, including impacts to air, water, and quality of life in producing regions. We describe the economic benefits of the shale gas boom, including direct market impacts and positive externalities, providing back-of-the-envelope estimates of their magnitude. This article also summarizes the current science and economics literatures on negative externalities. We conclude that the likely scope of economic benefits is extraordinarily large and that continued research on the magnitude of negative externalities is necessary to inform risk-mitigating policies.
| Item Type: | Article |
|---|---|
| Official URL: | http://www.annualreviews.org/loi/resource |
| Additional Information: | © 2015 by Annual Reviews |
| Divisions: | Grantham Research Institute |
| Subjects: | G Geography. Anthropology. Recreation > GE Environmental Sciences H Social Sciences > HC Economic History and Conditions H Social Sciences > HD Industries. Land use. Labor |
| JEL classification: | Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q3 - Nonrenewable Resources and Conservation Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q4 - Energy Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q5 - Environmental Economics |
| Date Deposited: | 12 Nov 2015 11:24 |
| Last Modified: | 19 Sep 2024 04:03 |
| Projects: | ES/K006576/1 |
| Funders: | Economic and Social Research Council |
| URI: | http://eprints.lse.ac.uk/id/eprint/64413 |
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