Russian oil production up slightly in July at 10. Iraq’s oil production rises to 4. OCP Policy Center recently launched a new book: The Gas dynamics book pdf of Natural Gas.
The book is an in-depth analysis of some of the fastest moving gas markets, attempting to define the trends of a resource that will have a decisive role in shaping the global economy and modelling the geopolitical dynamics in the next decades. 50 you have your own copy of The Future of Natural Gas. Distributed under the GNU GPL license. Please forward this error screen to 67. Wayne Gray, Joshua Linn, Richard D. Summary This new study finds the dramatic US shale gas price declines increased manufacturing and energy intensive industry employment much less than previously thought.
The decline in natural gas prices between 2007 and 2012 increased employment by 1. 8 percent in the relatively gas-intensive industries, which is three times greater than the estimate for the entire manufacturing sector. Simulations of our model suggest that the gas price changes resulting from higher natural gas exports would have relatively small impacts on the manufacturing sector. 2009 economic recession has coincided with a sharp drop in natural gas prices.
Popular discussion has often attributed a large portion of the manufacturing recovery to this drop in gas prices, but little rigorous analysis has been conducted on this issue. We use confidential plant-level data to estimate the manufacturing employment effects of changes in natural gas and other energy prices. Census of Manufacturing to weigh the impacts of lower natural gas prices on manufacturing employment from 2007 to 2012. Also presenting at RFF was Jan Mares, a senior adviser with the group who worked in the Reagan administration on energy and trade issues.
Mares spoke first on behalf of Paul Cicio, the head of the lobbying group Industrial Energy Consumers of America, who was unable to attend the discussion, to poke holes in the new assessment. Statistical models like the one used in the new study ‘cannot address unique market realities as to how prices are impacted,’ Mares said. On behalf of Cicio, Mares said the study fails to address growing natural gas demand that IECA estimates would consume 69 percent of ‘technically recoverable’ U. Report: Affordable Natural Gas — Made Possible by Fracking — Has Bolstered U. Overall, these findings demonstrate how shale development has benefited the U. However, some questions remain about the magnitude such benefits cited by report.