On the vulnerability of the oil and gas industry to oil price changes

Williams Olatubi and Sung No

Atlantic Economic Journal, 2003, vol. 31, issue 4, 363-375

Abstract: Previous studies of oil-price economic activity relationships are dominated by macro-level examination of price effects. This study examines the effect of shocks in oil price and its volatility on the oil and gas extraction industry using a Vector Auto-Regressive (VAR) approach. The results show that, in the short-run, positive price and volatility shocks lead to significant increases in oil and gas activities. However, in the long-run, the industry behaves much like the rest of the U.S. economy—price and volatility shocks produce small or insignificant effects. Copyright International Atlantic Economic Society 2003

Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:kap:atlecj:v:31:y:2003:i:4:p:363-375

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DOI: 10.1007/BF02298494

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