Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2018.03.039 |
The effects of combined-cycle generation and hydraulic fracturing on the price for coal, oil, and natural gas: Implications for carbon taxes | |
Kaufmann, Robert K.; Hines, Edward | |
2018-07-01 | |
发表期刊 | ENERGY POLICY |
ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2018 |
卷号 | 118页码:603-611 |
文章类型 | Article |
语种 | 英语 |
国家 | USA |
英文摘要 | We identify how the increased efficiency of generating electricity using gas-fired combined-cycle technology and the increased production of natural gas due to hydraulic fracturing in the US affect the first purchase price for coal, oil, and natural gas and their prices at electricity generating plants by estimating a cointegrating vector autoregression model from monthly observations between January 1991 and February 2016. Simulation experiments indicate that combined-cycle generation raises the long-run price of natural gas, both at the wellhead and electricity generating plants. Conversely, the increased production of natural gas has a relatively small long run effect on natural gas prices. Historical counterfactuals indicate increased natural gas production since June 2003 lowers natural gas prices by an average of $0.16 per million BTU while combined cycle generation increases prices by an average of $0.54 per million BTU since April 1999. This increase is captured by natural gas producers such that the margin between prices at electricity generating plants and the wellhead shrinks by about $0.05 per million BTU. This analysis suggests that market relations among energy prices and their statistical ordering will reinforce the direct effects of a carbon tax on relative prices in ways that enhance interfuel substitution towards natural gas. |
英文关键词 | Natural gas prices Oil prices Combined cycle technology Hydraulic fracturing Carbon taxes |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000435050000055 |
WOS关键词 | CRUDE-OIL ; ENERGY MARKETS ; ECONOMY ; UK |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/18697 |
专题 | 气候变化 |
作者单位 | Boston Univ, Dept Earth & Environm, Boston, MA 02215 USA |
推荐引用方式 GB/T 7714 | Kaufmann, Robert K.,Hines, Edward. The effects of combined-cycle generation and hydraulic fracturing on the price for coal, oil, and natural gas: Implications for carbon taxes[J]. ENERGY POLICY,2018,118:603-611. |
APA | Kaufmann, Robert K.,&Hines, Edward.(2018).The effects of combined-cycle generation and hydraulic fracturing on the price for coal, oil, and natural gas: Implications for carbon taxes.ENERGY POLICY,118,603-611. |
MLA | Kaufmann, Robert K.,et al."The effects of combined-cycle generation and hydraulic fracturing on the price for coal, oil, and natural gas: Implications for carbon taxes".ENERGY POLICY 118(2018):603-611. |
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