The Market Structure of Shale Gas Drilling in the United States

Zhongmin Wang (wang@rff.org) and Qing Xue (xueqing_cup@163.com)
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Zhongmin Wang: Resources for the Future
Qing Xue: China University of Petroleum (Beijing)

Economics Bulletin, 2016, vol. 36, issue 2, 793-801

Abstract: This paper documents the evolution of the market structure of the modern shale gas drilling industry in the United States from birth to maturity. Modern shale gas drilling represents a major revolution in the energy industry. The industry was highly concentrated during its experimental stage and became less concentrated during its expansion stage, attracting a long tail of infrequent drillers. The evolution of this industry is different from the standard industry life cycle documented in the literature because this industry is driven only by process innovations. Our findings have policy implications for countries new to shale gas development.

Keywords: shale gas; market structure; concentration (search for similar items in EconPapers)
JEL-codes: L7 Q4 (search for similar items in EconPapers)
Date: 2016-04-29
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