The authors identify bottlenecks in the oil the oil and gas value chain that physically cause upstream flaring at the well; analyze the economic reasons for flaring, market distortions that could exacerbate it, and the cost to society of flaring, then lay out an agenda for researchers and policymakers.
Mark Agerton, Ben Gilbert, Gregory Upton Jr.July 22, 2020
The authors investigate two plausible causes for the significant price discount of U.S. crudes during the U.S. “shale boom” and evaluate how much each mattered.