Center for Energy and the Economy Articles in Dallas Fed Economics

• Gasoline demand more responsive to price changes than economists once thought

  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

  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

  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

  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

  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

• Potential mismeasurement of mining limits official Texas real GDP data

  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

  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

• Don’t expect U.S. shale producers to respond quickly to geopolitical disruption

  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

  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

• Dallas Fed Economics

  Oil and gas sector increasingly influences U.S. business fixed investment

  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