Stochastic frontier analysis of total factor productivity in the offshore oil and gas industry
Opaluch, James J.
Grigalunas, Thomas A.
MetadataShow full item record
KeywordTechnological change; Productivity; Stochastic frontier analysis; Environmental regulation; Offshore oil and gas industry
We examine the impact of technological change on oil and gas exploration, development and production in the Gulf of Mexico over the past five decades. We analyze the effect of technological change on the production frontier using a unique field-level data set covering 1947 through 1998. We then develop estimates of the growth in total factor productivity (TFP) in the industry at the regional level from 1976 to 1995. To address the unique features of this marine resource industry, we include in our models some key geological variables such as water depth and field size. In addition, the results reveal that environmental regulation had a significantly negative impact on offshore production, although such impact has been diminishing over time.
Author Posting. © The Authors, 2005. This is the author's version of the work. It is posted here by permission of Elsevier B.V. for personal use, not for redistribution. The definitive version was published in Ecological Economics 60 (2006): 204-215, doi:10.1016/j.ecolecon.2005.11.028.
Showing items related by title, author, creator and subject.
Effects of climate change on an emperor penguin population : analysis of coupled demographic and climate models Jenouvrier, Stephanie; Holland, Marika M.; Stroeve, Julienne; Barbraud, Christophe; Weimerskirch, Henri; Serreze, Mark; Caswell, Hal (2012-06-21)Sea ice conditions in the Antarctic affect the life cycle of the emperor penguin (Aptenodytes forsteri). We present a population projection for the emperor penguin population of Terre Adelie, Antarctica, by linking ...
Hunter, Christine M.; Caswell, Hal; Runge, Michael C.; Regehr, Eric V.; Amstrup, Steve C.; Stirling, Ian (Ecological Society of America, 2010-10)The polar bear (Ursus maritimus) depends on sea ice for feeding, breeding, and movement. Significant reductions in Arctic sea ice are forecast to continue because of climate warming. We evaluated the impacts of climate ...
Nadakuditi, Rajesh Rao (Massachusetts Institute of Technology and Woods Hole Oceanographic Institution, 2007-02)The first part of the dissertation investigates the application of the theory of large random matrices to high-dimensional inference problems when the samples are drawn from a multivariate normal distribution. A longstanding ...