Energy

 

• Refilling the Strategic Petroleum Reserve offers chance to recalibrate its size

  A series of emergency drawdowns, exchanges and planned sales since 2020 have reduced crude oil inventories held by the U.S. Strategic Petroleum Reserve to a 40-year low. Calls to fully refill the SPR in recent months raise important questions.

  October 03, 2023

• Surveys

  Dallas Fed Energy Survey

  Activity in the oil and gas sector rose in third quarter 2023, according to oil and gas executives responding to the Dallas Fed Energy Survey.

  September 27, 2023

• Research Department Working Papers

  Investing in the Batteries and Vehicles of the Future: A View Through the Stock Market

  A large number of companies operating in the EV and battery supply chain have listed on a major U.S. stock exchange in recent years. This paper investigates 1) how these companies’ stock returns are related to systematic risk factors that can explain movements in the stock market and 2) how these companies’ idiosyncratic returns are related to one another.

  September 26, 2023

• Research Department Working Papers

  Oil Price Shocks and Inflation

  Despite growing interest in the impact of oil and other energy price shocks on inflation and inflation expectations, until recently this question has not received much attention. This survey not only presents empirical results for the U.S. economy, but expands the analysis to include other major economies.

  August 24, 2023

• Permian Basin Economic Indicators

  Employment in the Permian Basin in the second quarter increased while wages remained stable. Oil prices fell as production reached a new high, but the rig count declined. Home prices in Midland–Odessa increased, and sales dropped dramatically.

  August 21, 2023

• Energy Indicators

  The annual U.S. Energy and Employment Report (USEER) from the Department of Energy shows solar dominated electricity generation employment in 2022 and petroleum lead fuels employment.

  August 16, 2023

• Research Department Working Papers

  How to Construct Monthly VAR Proxies Based on Daily Futures Market Surprises

  This paper provides a new approach to constructing monthly proxies from daily surprises that takes account of the link between daily and average monthly price data and revisits the question of how to use OPEC announcements to identify news shocks in VAR models of the global oil market.

  July 31, 2023

• Research Department Working Papers

  Global Transportation Decarbonization

  A number of policy proposals call for replacing fossil fuels in the name of decarbonization, but these fuels will be difficult to replace due to their as-yet unrivaled bundle of attributes: abundance, ubiquity, energy density, transportability and cost.

  July 31, 2023

• Energy Indicators

  Oil and gas executives expect West Texas Intermediate (WTI) crude oil to end the year as high as $80 a barrel. Employment growth in the oil and gas sector is increasing at a slower rate compared with last year’s period of heightened energy prices, but it is still at robust levels.

  July 13, 2023

• Surveys

  Dallas Fed Energy Survey

  Activity in the oil and gas sector was unchanged in second quarter 2023, according to oil and gas executives responding to the Dallas Fed Energy Survey.

  June 22, 2023