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.

As of 2013, Colombia faces various challenges associated with managing an uncertain international economic environment and reversing adverse long-term trends, notably high domestic inequalities and the weakening of its manufacturing and agricultural sectors.

The causes and consequences of rising oil price over the past decade have been the subject of much debate. The role of speculation in financial markets has come increasingly under the microscope, with many economists arguing that in commodity markets such as oil, inventory adjustment should prevent speculative pressures from unduly influencing price. This paper investigates whether speculative pressures can exert an influence on the price of storable commodities, such as crude oil and natural gas.

A working paper that reveals some of the possible new directions in U.S. NGLs and their future use in world markets. By Al Troner, president of Asia Pacific Energy Consulting.

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Abstract

The failure of the U.S. Congress to deal…

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Abstract

This paper seeks to explain the apparent…

Published Feb. 2013 as a Cambridge Electricity Policy Research Group/Economics working paper.

The political institutions that established Venezuela's democracy in the 1960s were deliberately set up to generate a cooperative equilibrium with low stakes of power. The recent political reforms, increasing the stakes of power, have stimulated a complete breakdown in cooperation and a highly polarized political system.