Southwest Economy
Hotter summer days heat up Texans but chill the state economy
As climate change intensifies over the next decade, summer heat waves will likely become more common and severe. The effect on Texas GDP growth is likely to be twice as pronounced as in the rest of the U.S. Meanwhile, the effect on job growth will likely be relatively subdued but vary widely across sectors.
October 18, 2023
Dallas Fed Economics
Record-breaking Texas summer heat tests the grid, ERCOT operations
Texas just witnessed its second-hottest summer ever and its highest electricity demand without experiencing interruption to electricity delivery.
October 17, 2023
Dallas Fed Economics
Russian ruble buckles under trade sanctions, declining export earnings
Russia’s currency is losing value, falling 40 percent against the U.S. dollar since December 2022. With measures targeting Russian exports likely to persist, the country’s balance of payments will remain under pressure, leading to continuing currency weakness.
October 10, 2023
Economic Indicators
Energy Indicators
Resilient demand and constricted supply due to OPEC+ production cuts will leave crude oil balances in a deficit for the remainder of the year, even with continually increasing U.S. production.
October 05, 2023
Dallas Fed Economics
Refilling the Strategic Petroleum Reserve offers chance to recalibrate its size
A series of emergency drawdowns, exchanges and planned sales since 2020 have reduced crude oil inventories held by the U.S. Strategic Petroleum Reserve to a 40-year low. Calls to fully refill the SPR in recent months raise important questions.
October 03, 2023
Dallas Fed Energy Survey
Activity in the oil and gas sector rose in third quarter 2023, according to oil and gas executives responding to the Dallas Fed Energy Survey.
September 27, 2023
Investing in the Batteries and Vehicles of the Future: A View Through the Stock Market
A large number of companies operating in the EV and battery supply chain have listed on a U.S. stock exchange in recent years. This paper compiles a unique data set of high-frequency stock returns for those companies and investigates the extent to which an “industry” factor specific to the EV and battery supply chain (an “EV” factor) can explain their returns.
September 26, 2023
Working Paper
Oil Price Shocks and Inflation
Despite growing interest in the impact of oil and other energy price shocks on inflation and inflation expectations, until recently this question has not received much attention. This survey not only presents empirical results for the U.S. economy, but expands the analysis to include other major economies.
August 24, 2023
Economic Indicators
Permian Basin Economic Indicators
Employment in the Permian Basin in the second quarter increased while wages remained stable. Oil prices fell as production reached a new high, but the rig count declined. Home prices in Midland–Odessa increased, and sales dropped dramatically.
August 21, 2023
Economic Indicators
Energy Indicators
The annual U.S. Energy and Employment Report (USEER) from the Department of Energy shows solar dominated electricity generation employment in 2022 and petroleum lead fuels employment.
August 16, 2023