Fueling up: The economic implications of America’s oil and gas boom
Fueling up: The economic implications of America’s oil and gas boom / Trevor Houser and Shashank Mohan. Peterson Institute for International Economics, January 2014 • 172 pp. ISBN paper 978-0-88132-656-7 – $18.95
Presentation (© PIIE) :
New drilling techniques for oil and natural gas are propelling an energy production renaissance in the United States. As the US economy struggles to emerge from the Great Recession, many see the boom as a possible source of economic salvation that could reduce unemployment and revitalize American manufacturing. Until now, however, there has been little objective analysis of the energy boom’s economic consequences. In this major study, Trevor Houser and Shashank Mohan fill that gap. They assess the impact of the recent and projected increase in domestic energy production on US GDP, employment growth, manufacturing competitiveness, household expenditures, and international trade balance. Alongside its economic impact, the American energy revolution is raising new environmental and trade policy questions. What are the consequences for the environment and global warming of increased domestic oil and gas production? Should companies be allowed to export the energy they produce or will doing so undermine American manufacturing competitiveness? Houser and Mohan provide independent research and analysis that will help policymakers navigate these issues.
–> About the book :
New PIIE Study Realistically Forecasts the Economic Impact of America’s Oil and Gas Boom, PIIE news release, January 8, 2014 http://www.piie.com/publications/newsreleases/newsrelease.cfm?id=213
The dramatic expansion of domestic oil and gas production in the United States is providing much-needed economic stimulus and will produce ongoing economic benefits through 2020, according to a new study published by the Peterson Institute for International Economics. The revolution in production of shale gas and tight oil (derived from shale and sandstone) could increase GDP growth by an average of as much as 0.2 percent annually between the present and 2020, boosting economic output by a total of 2.1 percent over that period, the study concludes. While substantial, the forecasted long-term economic benefits are more modest than in many other analyses, and warn against simply projecting forward the current short-run impact of the boom…