Price Elasticity of Supply and Productivity: An Analysis of Natural Gas Wells in Wyoming
We evaluate the roles played by prices and geological characteristics in determining well-level natural gas supply.
- Production of natural gas is primarily determined by geological characteristics.
- More recently fracked wells tend to have larger initial production and faster production decline rates.
- The price elasticity of initial production is negative, suggesting that firms are willing to drill in less geologically attractive locations when prices rise.
- These points complicate the decision to add pipeline capacity.
Resources Radio — Sep 27, 2022
The Latest in Nuclear Energy Innovation and Deployment, with Alex Gilbert
Alex Gilbert on the latest developments in the nuclear energy sector and the short- and long-term trajectories of nuclear energy in the United States.
On the Issues — Sep 23, 2022
On the Issues: Energy Communities, Hydrogen Hubs, and More
A biweekly newsletter connecting global current events, pressing climate and energy policy news, and economics research from RFF scholars. This week: energy communities, hydrogen hubs, and more.
Common Resources — Sep 23, 2022
Institutional Strategies for State-Level Decarbonization of the Electricity Grid
In a recent workshop co-hosted by RFF about how US states are moving toward decarbonizing their electricity supply, participants identified related challenges, solutions, and future research questions. This blog post summarizes their insights.