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SSRN
A Survey on Behavioral Models of Intra-Household Consumption
In: International Journal of Management, Accounting and Economics Vol. 9, No. 6, June, 2022
SSRN
The role of renewable energy consumption on environmental degradation in EU countries: do institutional quality, technological innovation, and GDP matter?
In: Environmental science and pollution research: ESPR, Band 30, Heft 15, S. 44607-44624
ISSN: 1614-7499
Oil price shocks on shale oil supply and energy security: a case study of the United States
In: International Journal of Development Issues, Band 21, Heft 2, S. 249-270
Purpose
The purpose of this study is to examine oil price shocks on US shale oil supply and energy security during the period 2000q1–2020q4.
Design/methodology/approach
In this study, the Shannon–Wiener index was used to calculate energy security, and then a structural vector autoregression (VAR) was applied to measure the effect of oil price shocks.
Findings
The results of the variance decomposition indicate that oil prices account for about 20% of changes in US shale oil production, while it explains only about 3% of changes in energy security. Finally, historical decomposition confirms the results of impulse response functions.
Originality/value
The novelty of this study is that so far, no study has examined the effect of oil price shock on shale oil production and energy security in the USA using the structural VAR model. This study also used the latest Shannon–Wiener index as a measure of energy security in the USA. The reason for selecting this index is that, in addition to considering the share of the total consumption of each primary energy, the share of energy imports from each country as well as the political risk of energy exporting countries to the USA are also included.