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Energy

Surveys

Dallas Fed Energy Survey

Activity in the oil and gas sector deteriorated further in second quarter 2020, according to oil and gas executives responding to the Dallas Fed Energy Survey.

June 24, 2020

Gasoline Demand More Responsive to Price Changes than Economists Once Thought

Lutz Kilian and Xiaoqing Zhou

Recent advances in applied work have overturned decades of conventional wisdom regarding how consumers respond to gasoline price fluctuations.

June 16, 2020

How Falling Oil Prices in Early 2020 Weakened the U.S. Economy

Lutz Kilian, Michael D. Plante and Xiaoqing Zhou

The benchmark West Texas Intermediate (WTI) price of oil dropped by more than half from Jan. 21 to April 3. This oil price decline has weakened rather than strengthened the U.S. economy, making this event different from past episodes of falling oil prices.

May 19, 2020

Falling Oil Prices Drag Down U.S. Business Investment

Garrett Golding, Martin Stuermer and Jesse Thompson

The dramatic decline in the price of oil has led to massive investment reductions by U.S. oil and gas producers.

May 14, 2020

How the Saudi Decision to Launch a Price War Is Reshaping the Global Oil Market

Lutz Kilian

In the second week of March, the already fragile global oil market was rocked by Saudi Arabia’s announcement that it would expand oil production to unprecedented levels, signaling an end to its price cooperation with Russia.

April 02, 2020

Dallas Fed Energy Survey Results Point to Bleak Outlook for Oil Industry

Michael D. Plante and Kunal Patel

The price of West Texas Intermediate (WTI) crude oil has plunged more than 50 percent since the start of the year as the coronavirus (COVID-19) pandemic has taken hold and OPEC has failed to agree on global supply cuts.

March 26, 2020

Surveys

Dallas Fed Energy Survey

Activity in the oil and gas sector declined significantly in first quarter 2020, according to oil and gas executives responding to the Dallas Fed Energy Survey.

March 25, 2020

Potential Mismeasurement of Mining Limits Official Texas Real GDP Data

Keith R. Phillips and Christopher Slijk

We show how a new measure tied to oil and gas production provides a result that is more consistent with other assessments of real output in this industry.

February 25, 2020

An Assessment of Economic Conditions and the Stance of Monetary Policy

Robert S. Kaplan

In his latest essay, posted on Dallas Fed Economics, President Rob Kaplan provides his assessment of current economic conditions, the outlook for the energy industry, and the current stance of monetary policy.

February 18, 2020

Surveys

Dallas Fed Energy Survey

Activity in the oil and gas sector dipped again in fourth quarter 2019, according to oil and gas executives responding to the Dallas Fed Energy Survey.

December 27, 2019

Don’t Expect U.S. Shale Producers to Respond Quickly to Geopolitical Disruption

Garrett Golding

Higher oil prices due to supply disruptions and increased geopolitical risk are unlikely to generate significantly more U.S. oil production in the short term.

October 03, 2019

Crude Oil Price Changes Quicker to Register at Gasoline Pump

Alexander Chudik

How big an impact should we expect on gasoline prices? Based on recent research, most of the initial effect showed up quickly at the pump.

October 01, 2019

Research Events

Forging a New Path in North American Trade and Immigration

This conference explored what the future may bring to this deep economic relationship and the challenges and opportunities presented by the proposed United States–Mexico–Canada Agreement (USMCA).

September 26, 2019

Surveys

Dallas Fed Energy Survey

Activity in the oil and gas sector declined in third quarter 2019, according to oil and gas executives responding to the Dallas Fed Energy Survey.

September 25, 2019

Oil and Gas Sector Increasingly Influences U.S. Business Fixed Investment

Karel Mertens, Grant Strickler and Martin Stuermer

As U.S. oil production has more than doubled over the past decade, the oil and gas sector has become more important to growth in non-residential investment.

September 24, 2019

Solving a Puzzle: More Nonrenewable Resources Without Higher Prices

Sean Howard, Gregor Schwerhoff and Martin Stuermer

Economic intuition suggests nonrenewable resources such as metals or fossil fuels become scarcer and more expensive over time. However, a new dataset covering the years 1700 to 2018 indicates otherwise.

August 27, 2019

GDP Gain Realized in Shale Boom’s First 10 Years

Mine Yücel and Michael D. Plante

The U.S. shale boom has benefited the nation’s oil trade balance and oil-producing regions and led to unusually large employment and output gains.

August 20, 2019

Surveys

Dallas Fed Energy Survey

Activity in the oil and gas sector was flat in second quarter 2019 after three years of growth, according to oil and gas executives responding to the Dallas Fed Energy Survey.

June 26, 2019

Breakeven Oil Prices Underscore Shale’s Impact on the Market

Michael D. Plante and Kunal Patel

The oil price that companies need to profitably drill new wells has closely tracked prices for long-dated oil futures in recent years. The emergence of U.S. shale production seems to be playing a large role in anchoring long-term oil prices.

May 21, 2019

Modern Refineries, Shale Boom Upend Traditional Oil Price Relationships

Grant Strickler and Michael D. Plante

Different crude oils can sell for dramatically different prices with sometimes far-reaching effects on the energy industry—from impacts on oil producers’ production decisions to oil refineries’ profit margins.

April 09, 2019

Surveys

Dallas Fed Energy Survey

Energy sector activity grew modestly in first quarter 2019, according to oil and gas executives responding to the Dallas Fed Energy Survey.

March 27, 2019

Global Perspectives: John Hess on U.S. Oil Reserves, Climate Change

Mark Wynne

Few sectors of the U.S. economy have undergone as radical a transformation in recent years as the energy sector, and few loom as large in the economic fortunes of Texas and the Eleventh District.

February 28, 2019

Dallas Fed Energy Survey Suggests Oil Price Drop Won’t Cause Sector Collapse in 2019

Michael D. Plante and Kunal Patel

Following a banner year in 2018, will U.S. oil producers retrench and reduce capital spending after the recent double-digit oil price decline? The latest Dallas Fed Energy Survey provides some clues about what may be next.

February 14, 2019

Surveys

Dallas Fed Energy Survey

Growth in energy sector activity slowed significantly in fourth quarter 2018, according to oil and gas executives responding to the Dallas Fed Energy Survey.

January 03, 2019

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