The impact of price variation on the production of crude oil and natural gas

Noel D. Uri

Energy, 1981, vol. 6, issue 7, 631-639

Abstract: This paper is directed at examining the impact of changing prices on the level of production of crude oil and natural gas in the United States. By using a cross correlation test for unidirectional causality, it is clearly demonstrated that for both crude oil and natural gas, domestic production is affected by changing prices. The implications are clear. The decontrol of the price of crude oil and the deregulation of natural gas prices will lead to additional production in the near term.

Date: 1981
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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:6:y:1981:i:7:p:631-639

DOI: 10.1016/0360-5442(81)90018-9

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