KEY DETERMINANTS OF SHALE GAS IMPACT ON ENERGY PRICES
Journal Title: Revista Romana de Statistica - Year 2015, Vol 63, Issue 5
Abstract
Recent advances in drilling technology have led to profitable extraction of natural gas from shale gas formations. Shale gas has changed the economics of natural gas production in US as the sudden increase in supply has resulted in significantly lower gas prices. Starting 2008, the difference between gas prices in the United States and Europe has widened, with European gas prices even three times higher as compared to US ones. In North America, coal has been replaced by gas in the US electricity generating sector due to the sharp decrease of gas prices. Furthermore, coal reserves were partly exported to the EU, which has led to a decrease in prices in the EU and a replacement of gas by coal in the EU electricity sector. However, the effect cannot be entirely attributed to shale gas revolution, as other factors contributed such as minimum historical prices for carbon emission allowances in recent years and a decreasing consumption due to economic recession. The success of shale gas in the US has prompted companies and governments to assess the possibilities of replicating the shale gas production in Europe.
Authors and Affiliations
Valentina Ivan
Aspecte privind modelele de interpretare a variabilei reziduale
The linear correlation quotient allows us to ascertain the existence of a linear link between the variables of the regression model. This paper attempts to examine the interpretation of the residual variables through t...
UNCERTAINTY AND SENSITIVITY IN STATISTICAL DATA
Uncertainty and sensitivity analysis in statistical data is considered a necessary requirement in current statistical and econometric practice. Composite indicator development involves stages where subjective judgements...
Unele evoluţii ale economiei în perioada 2000-2011
This paper analyzes the evolution of some aspects of the Romanian economy. We consider the evolution of the consumption prices as one of the most important factors in the situation and dynamics of economical degree of st...
Analysis of the Gross Domestic Product evolution for 2015
The analysis of the Gross Domestic Product provides a high-level overview on the evolution of the Romanian economy. In this paper, the authors outline the main aspects regarding the progress of the GDP, as main indicator...
Causes of Global and National Economic Crisis
The economic crisis is expected to bring a slow down, stagnation or decrease of the economic activity. The socio-economic crisis in Romania started in 1990 and it continues at present, being emphasized by the financial a...