Oil and gas leases between mineral owners and extraction firms ubiquitously include royalty and primary term clauses. The royalty denotes the share of revenue that is paid to the mineral owner, and the primary term specifies the date by which the firm must complete a well, lest it lose the...

This paper provides the first evidence of positive bank-to-bank spillovers. I show that geographic linkages between banks that engage in home lending in the same geographic region transmit positive shocks from one bank to another. I exploit shocks to the deposit base of banks located in counties...

Oil and gas leases between mineral owners and extraction firms ubiquitously include royalty and primary term clauses. The royalty denotes the share of revenue that is paid to the mineral owner, and the primary term specifies the date by which the firm must complete a well, lest it lose the...

Oil and gas leases between mineral owners and extraction firms ubiquitously include royalty and primary term clauses. The royalty denotes the share of revenue that is paid to the mineral owner, and the primary term specifies the date by which the firm must complete a well, lest it lose the...

This paper provides new results to the literature, showing that output flexibility in oil production depends on the extraction technology. In particular, constructing a novel well-level monthly production data set covering more than 16,000 crude oil wells in North Dakota, we find supply...

Oil and gas lease negotiations provide mineral owners the opportunity to negotiate for both compensation and auxiliary clauses that may protect their health and properties. We use optical character recognition to assemble a novel dataset of compensation and specific clauses in nearly 60,000...

This paper investigates the global macroeconomic consequences of falling oil prices due to the oil revolution in the United States, using a Global VAR model estimated for 38 countries/regions over the period 1979Q2 to 2011Q2. Set-identification of the U.S. oil supply shock is achieved through...

We analyse if supply flexibility in oil production depends on the extraction technology. In particular, we ask to what extent shale oil producers respond to price incentives by changing completion of new wells as well as oil production from completed wells. Using a novel well-level monthly...

Starting in late 2008, the U.S. production of tight oil surged, causing a renaissance in the U.S. oil sector that few industry analysts had anticipated. This tight oil boom reduced the dependence of the United States on petroleum imports and allowed it to become a major exporter of gasoline and...

This paper investigates the global macroeconomic consequences of falling oil prices due to the oil revolution in the United States, using a Global VAR model estimated for 38 countries/regions over the period 1979Q2 to 2011Q2. Set-identification of the U.S. oil supply shock is achieved through...

Chapter 1 Analysis on the Structural Changes in the Global Oil and Gas Industry and Its Trend -- Chapter 2 The Development and Implication of Nature Gas Market in the Context of the Shale Revolution -- Chapter 3 The Development and Implication of Crude Oil Market in the Context of the Shale...

This book answers the following questions: How will the global oil and gas market change in the next decade? How does the United States become the world's biggest oil and gas producer? What is the current condition of China's Shale Industry and energy security? Is hydraulic fracturing and...

This paper investigates the global macroeconomic consequences of falling oil prices due to the oil revolution in the United States, using a Global VAR model estimated for 38 countries/regions over the period 1979Q2 to 2011Q2. Set-identification of the U.S. oil supply shock is achieved through...

Die amerikanische Schieferrevolution hat tiefgreifende Folgen für die globalen Energiemärkte. Sie lässt die USA zum Selbstversorger werden, zugleich verschieben sich die Handelsströme von Öl und Gas stärker in den pazifischen Raum. Dabei bleibt der Persische Golf aber das Rückgrat der...

Within the current debate on unconventional gas and oil resources in Europe, the European Parliament organised a workshop to discuss the impacts of shale gas and shale oil extraction on the environment and on human health, ways of mitigating them and the appropriateness of the current EU...

Introduction and Overview -- Part 1: A history of mistrust and struggle: -- Oil and geopolitics in the 1970s and 1980s -- OPEC and the Roaring 1990s -- The 2000s: The Boom and Bust Cycles -- Part 2: OPEC and the New Reality -- A false dawn: Myths and Realities of OPEC’s power -- Technology and...