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Energy

 

  • Research Events

    Direct Air Capture Panel Discussion

    The University of California, Davis, and the Federal Reserve Bank of Dallas hosted a panel discussion on Nov. 15, 2023 that focused on the prospects for large-scale carbon removal via direct air capture technology and what role it should play in climate policy.

  • Energy Indicators

    Oil and gas executives expect the rig count to remain at current levels at the start of next year. Exploration and production (E&P) firms—especially the smaller ones—are preparing to see higher well completion and drilling costs in 2024.

  • Permian Basin Economic Indicators

    Permian Basin employment rose in the third quarter while wages declined. The unemployment rate was roughly unchanged. The region’s rig count declined, but the price of oil rose significantly.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • Surveys

    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.

  • Research Department Working Papers

    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.