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Fracking: the boost to US manufacturing

Author

Listed:
  • Rabah Arezki
  • Thiemo Fetzer
  • Frank Pisch
Abstract
Research by Rabah Arezki, Thiemo Fetzer and Frank Pisch shows that the surge in shale gas production - 'fracking' - since the early 2000s has not only made the United States the world's largest producer of natural gas. It has also given a big boost to output, employment, and exports in US manufacturing, particularly in energy-intensive industries. Their study finds that energy prices for US manufacturing firms have plummeted due to fracking, especially relative to Europe. Lower input costs for energy-intensive US industries have made them more globally competitive. What's more, the shale gas boom helped the US economy to recover faster after the financial crisis.

Suggested Citation

  • Rabah Arezki & Thiemo Fetzer & Frank Pisch, 2016. "Fracking: the boost to US manufacturing," CentrePiece - The magazine for economic performance 486, Centre for Economic Performance, LSE.
    • Handle: RePEc:cep:cepcnp:486
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    File URL: https://cep.lse.ac.uk/pubs/download/cp486.pdf
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    More about this item

    Keywords

    manufacturing; exports; energy prices; shale gas;
    All these keywords.

    JEL classification:

    • Q33 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Resource Booms (Dutch Disease)
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • N52 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - U.S.; Canada: 1913-
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • L71 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Hydrocarbon Fuels

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