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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w24170 |
来源ID | Working Paper 24170 |
Crude Oil Price Differentials and Pipeline Infrastructure | |
Shaun McRae | |
发表日期 | 2018 |
出版年 | 2018 |
语种 | 英语 |
摘要 | Crude oil production in the United States increased by nearly 80 percent between 2008 and 2016, mostly in areas that were far from existing refining and pipeline infrastructure. The production increase led to substantial discounts for oil producers to reflect the high cost of alternative transportation methods. I show how the expansion of the crude oil pipeline network reduced oil price differentials, which fell from a mean state-level difference of $10 per barrel in 2011 to about $1 per barrel in 2016. Using data for the Permian Basin, I estimate that the elimination of pipeline constraints increased local prices by between $6 and $11 per barrel. Slightly less than 90 percent of this gain for oil producers was a transfer from existing oil refiners and shippers. Refiners did not pass on these higher costs to consumers in the form of higher gasoline prices. |
主题 | Industrial Organization ; Industry Studies ; Environmental and Resource Economics ; Energy |
URL | https://www.nber.org/papers/w24170 |
来源智库 | National Bureau of Economic Research (United States) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/581844 |
推荐引用方式 GB/T 7714 | Shaun McRae. Crude Oil Price Differentials and Pipeline Infrastructure. 2018. |
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文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
w24170.pdf(281KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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