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41 Results
Power lines during a freeze.
ERCOT Froze in February 2021. What Happened? Why Did It Happen? Can It Happen Again?
The authors conduct a step-by-step examination of various factors that were blamed for the extended power outage on the ERCOT electricity grid in February 2021. While no single factor fully explains the calamity, the bureaucratic failure in identifying and addressing risks along fuel supply chains was a major failure. Most proposed remedies do not fundamentally address what occurred. The authors make several recommendations, some of which have already been implemented.
Peter Hartley, Kenneth B. Medlock III, Shih Yu (Elsie) Hung February 2, 2022
Electricity Reform and Retail Pricing in Texas
Reforms enacted by the Texas Legislature have allowed Texans to choose their own electricity provider since 2002. In this study, the authors analyze monthly residential billing data to assess the impact of competition on retail electricity prices.
Peter Hartley, Kenneth B. Medlock III, Olivera Jankovska June 7, 2017
Employment Impacts of Upstream Oil and Gas Investment in the United States
Technological progress in the exploration and production of oil and gas during the 2000s has led to a boom in upstream investment and has increased the domestic supply of fossil fuels. It is unknown, however, how many jobs this boom has created. Using time-series methods at the national level and dynamic panel methods at the state level to understand how the increase in exploration and production activity has impacted employment, this paper finds robust statistical support for the hypothesis that changes in drilling for oil and gas as captured by rig counts do, in fact, have an economically meaningful and positive impact on employment.
Mark Agerton, Peter Hartley, Kenneth B. Medlock III, Ted Temzelides August 22, 2014
Recent Developments in LNG Markets
In this paper, author Peter Hartley examines the recent evolution of markets for LNG, focusing especially on the increasing amount of LNG being traded spot or under short-term contracts of less than four-years duration. Hartley argues that explanations for this increase, and other recent changes in LNG trading, imply that the proportion of LNG being traded under long-term contracts is likely to continue to decline and that the flexibility of long-term contracts for trading LNG is likely to continue to increase.
Peter Hartley September 23, 2013