Research Department Working Papers
The Effects of Competition in the Retail Gasoline Industry
This paper estimates the effect of competition on incumbent firm pricing by using high frequency price data and the precise geographic location for all gas stations in California.
March 05, 2025
Permian Basin Economic Indicators
Employment in the Permian Basin region grew in the fourth quarter. The unemployment rate decreased slightly, while average hourly earnings rose in December.
March 03, 2025
Energy Indicators
Natural gas liquids production increased in 2024 as did exports. The number of U.S. chemical railcar loadings remained flat compared to last year. Intermediate chemical prices have risen in recent months, while chemical export numbers, adjusted for inflation, are on the decline.
February 20, 2025
Geopolitical oil price risk not a major driver of global macroeconomic fluctuations
Notwithstanding the attention geopolitical events in oil markets have attracted, we find that geopolitical oil price risk is unlikely to generate sizable recessionary effects.
February 18, 2025
Research Department Working Papers
The Impact of the 2022 Oil Embargo and Price Cap on Russian Oil Prices
This paper documents the effect of the oil embargo and price cap on Russian oil exports in the wake of the Russian invasion of Ukraine in February 2022.
January 31, 2025
Energy Indicators
U.S. exports of liquefied natural gas (LNG) are expected to continue to grow further into 2025. From October 2024 through the beginning of this year, U.S. natural gas and heating oil prices remained fairly steady.
January 23, 2025
Solar, battery capacity saved the Texas grid last summer; an uncertain future awaits
As ERCOT forecasts accelerated load growth due to anticipated data center construction and electrification trends, the current generation mix and market design should garner increased scrutiny.
January 14, 2025
Surveys
Oil and gas activity edges higher as outlooks brighten
Activity in the oil and gas sector increased slightly in fourth quarter 2024, according to oil and gas executives responding to the Dallas Fed Energy Survey.
January 02, 2025
Energy Indicators
Gasoline and diesel prices have come down since 2022. While motor gasoline consumption was low compared with historic trends, distillate fuel consumption was significantly weak in 2024.
December 18, 2024
Electric reliability concerns spur Texas backup generation boom
Amid growing concerns about reliability of electricity services across power-hungry Texas, deployment of back-up power sources—microgrids and alternative generation—is increasing. These assets, serving customers ranging from college campuses to oilfield operations, help keep the lights on when disaster strikes.
December 06, 2024