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A Retrospective Review of Shale Gas Development in the United States: What Led to the Boom?

Author

Listed:
  • Wang, Zhongmin

    (Resources for the Future)

  • Krupnick, Alan

    (Resources for the Future)

Abstract

This is the first academic paper that reviews the economic, policy, and technology history of shale gas development in the United States. The primary objective of the paper is to answer the question of what led to the shale gas boom in the United States to help inform stakeholders in those countries that are attempting to develop their own shale gas resources. This paper is also a case study of the incentive, process, and impact of technology innovations and the role of government in promoting technology innovations in the energy industry. Our review finds that government policy, private entrepreneurship, technology innovations, private land and mineral rights ownership, high natural gas prices in the 2000s, and a number of other factors all made important contributions to the shale gas boom.

Suggested Citation

  • Wang, Zhongmin & Krupnick, Alan, 2013. "A Retrospective Review of Shale Gas Development in the United States: What Led to the Boom?," Discussion Papers dp-13-12, Resources For the Future.
  • Handle: RePEc:rff:dpaper:dp-13-12
    as

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    File URL: http://www.rff.org/RFF/documents/RFF-DP-13-12.pdf
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    References listed on IDEAS

    as
    1. Dosi, Giovanni, 1988. "Sources, Procedures, and Microeconomic Effects of Innovation," Journal of Economic Literature, American Economic Association, vol. 26(3), pages 1120-1171, September.
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    More about this item

    Keywords

    shale gas; policy; research and development; technology; hydraulic fracturing; horizontal drilling;
    All these keywords.

    JEL classification:

    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • L71 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Hydrocarbon Fuels

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