Publication Date:
2022-05-25
Description:
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.
Description:
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.
Description:
This research was funded by
the United States Environmental Protection Agency STAR grant program (Grant Number Grant
Number R826610-01) and the Rhode Island Agricultural Experiment Station (AES Number
5034).
Keywords:
Technological change
;
Productivity
;
Stochastic frontier analysis
;
Environmental regulation
;
Offshore oil and gas industry
Repository Name:
Woods Hole Open Access Server
Type:
Preprint
Format:
348813 bytes
Format:
application/pdf
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