تجزیه و تحلیل مرزی تصادفی از بهره وری کل عوامل در صنعت نفت و گاز

We examine the impact of technological change on oil and gas exploration, development and production in the Gulf of Mexico over the past five decades. We analyze the effect of technological change on the production frontier using a unique field-level data set covering 1947 through 1998. We then develop estimates of the growth in total factor productivity (TFP) in the industry at the regional level from 1976 to 1995. To address the unique features of this marine resource industry, we include in our models some key geological variables such as water depth and field size. In addition, the results reveal that environmental regulation had a significantly negative impact on offshore production, although such impact has been diminishing over time.

The offshore oil and gas industry has played a significant role in energy supply in the United States. Since 1947 in the Gulf of Mexico, as one of the first large-scale offshore production areas in the world, the share of offshore production in the total domestic production has been increasing. In 2001, Federal offshore oil and gas production accounted for 26.3% and 24.3% of total U.S. production, respectively (U.S. Department of Interior, 2001). Oil and gas production in the Gulf, our study region, accounted for 88% and 99% of the total U.S. offshore production in 1997, respectively (U.S. Department of the Interior, 1997). Contrary to earlier predictions of declining production due to resource depletion (Walls, 1994), the output from the Gulf of Mexico has increased in recent years.

Offshore oil and gas operations in the Gulf of Mexico have played an important role in energy supply in the United States. In the past five decades, the offshore industry expanded first along the coast in shallow waters, and then extended into deep waters. Contrary to earlier predictions of declining production due to resource depletion (Walls, 1994), the output from the region has increased in recent years (U.S. Department of Interior, 2000). The continued development and production in the region has depended heavily on technological innovations.