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GTAP Resources: Resource Display

GTAP Resource #4442

"Shale Oil and Gas: Modeling Economic and Environmental Impacts in a Computational General Equilibrium Modeling Framework"
by Taheripour, Farzad and Wally Tyner


Abstract
Improvement in hydraulic fracturing (fracking) and horizontal drilling technologies has increased access to the US shale oil and gas resources and led to increases in supplies of these fuels in this country in recent years. The US Department of Energy [1] projections indicate that producing energy from shale resources will continue to grow in decades to come. These projections suggest that by 2030 North America will be self-sufficient in petroleum. Currently, the US is the only country which extracts oil and gas from shale resources. However, these resources are available in many countries around the world, abundantly. According to the existing estimates, about 335 billion barrels of crude oil and 7,795 trillion cubic feet of natural gas can be extracted from shale resources at the global scale [2]. Extracting these resources will have major economic and environmental consequences for the world economy, alter the energy market at the global scale, and affect public actions regarding emission control policies and global warming.

Proper modeling tools and data bases should be developed to examine and quantify these consequences to help policy makers, regulatory agencies, private entities, and public media to make proper decisions on using these resources and understanding their pros and cons. Among alternative modeling approaches, given the economy wide impacts of using shale resources, an appropriate computable general equilibrium modeling framework can make more contribution in understanding the economic and environmental consequences of using shale resources across the world. Recently, a limited number of studies have examined the economic and environmental consequences of using shale resources for the US economy, and some of them used CGE models [3-5]. However, the modeling frameworks used in these studies are designed for the US economy and are not publicly available. Among the existing modeling frameworks, the GTAP-E model [6-7] frequently used to addres...


Resource Details (Export Citation) GTAP Keywords
Category: 2014 Conference Paper
Status: Published
By/In: Presented at the 17th Annual Conference on Global Economic Analysis, Dakar, Senegal
Date: 2014
Version:
Created: Tyner, W. (4/14/2014)
Updated: Tyner, W. (4/14/2014)
Visits: 1,045
- Baseline development
- Software
- Technological change
- Other data bases and data issues
- The GTAP Data Base and extensions
- North America


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