The US Shale Gas Revolution and Its Externality on Crude Oil Prices: A Counterfactual Analysis

Liu, Hongxun; Li, Jianglong

doi:10.3390/su10030697

Cited by 25 publications

(6 citation statements)

References 36 publications

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“…Surprisingly, there was a production surge recorded in 2008 (1.83 billion) to 2015 (3.44 billion). The reason for this is because there was a major discovery of a shale oil refinery in the USA, which contributed to a surge in the production of oil fuels [40]. Based Hence, maximum production of resources has already been exceeding its years, which ends with the amount of 3.52 billion.…”

Section: Figurementioning

confidence: 99%

“…Surprisingly, there was a production surge recorded in 2008 (1.83 billion) to 2015 (3.44 billion). The reason for this is because there was a major discovery of a shale oil refinery in the USA, which contributed to a surge in the production of oil fuels [40]. Based on a statistical review on the world energy in 2016, the expectancy was roughly estimated to be around 115 years on coal depletion and 50 years for oil and gases [41].…”

Section: Figurementioning

confidence: 99%

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Distributed Generation: A Review on Current Energy Status, Grid-Interconnected PQ Issues, and Implementation Constraints of DG in Malaysia

et al. 2020

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Electric supply is listed as one of the basic amenities of sustainable development in Malaysia. Under this key contributing factor, the sustainable development goal aims to ensure universal access to an affordable, clean, and reliable energy service. To support the generation capacity in years to come, distributed generation is conceptualized through stages upon its implementation in the power system network. However, the rapid establishment growth of distributed generation technology in Malaysia will invoke power quality problems in the current power system network. In order to prevent this, the current government is committed to embark on the development of renewable technologies with the assurance of maintaining the quality of power delivered to consumers. Therefore, this research paper will focus on the review of the energy prospect of both fossil fuel and renewable energy generation in Malaysia and other countries, followed by power quality issues and compensation device under a high renewable penetration distribution network. The issues and challenges of distributed generation are presented, with a comprehensive discussion and insightful recommendation on future work of the distributed generation. In accordance with the addressed highlights in this paper, it would serve as the criterion on upcoming revolution of distributed generation integrated along with the traditional network in Malaysia.

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Section: Figurementioning

confidence: 99%

“…Surprisingly, there was a production surge recorded in 2008 (1.83 billion) to 2015 (3.44 billion). The reason for this is because there was a major discovery of a shale oil refinery in the USA, which contributed to a surge in the production of oil fuels [40]. Based on a statistical review on the world energy in 2016, the expectancy was roughly estimated to be around 115 years on coal depletion and 50 years for oil and gases [41].…”

Section: Figurementioning

confidence: 99%

Distributed Generation: A Review on Current Energy Status, Grid-Interconnected PQ Issues, and Implementation Constraints of DG in Malaysia

et al. 2020

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“…Shale gas refers to natural gas that occurs in shale [1]. China has huge shale gas reserves, and the efficient utilization of shale gas energy is of great significance for achieving energy independence and dual carbon goals.…”

Section: Introductionmentioning

confidence: 99%

Application of LSTM intelligent algorithm in shale gas development

Gao

Liao

Yang

2023

International Conference on Pure, Applied, and Computational Mathematics (PACM 2023)

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Shale gas is regard as a clean, low-carbon and green energy, and the utilization and efficient development of shale gas is of great significance for achieving the dual carbon goals. Horizontal well hydraulic fracturing is an important way to develop shale gas resources. Predicting the production of shale gas under different engineering or geological conditions of shale reservoirs is crucial to the optimal fracturing design of shale gas development. This study proposes a LSTMbased intelligent model to predict the gas production of shale, and this novel smart model predicts gas production quickly and accurately. We comprehensively evaluate and compare the performance of the AI network, and the results of test show that the LSTM-based AI model can output gas production data by inputting reservoir and engineering parameters. The mean value of relative error of the LSTM-based AI model is 5.32%, which is reliably for the prediction of gas production. The peak of relative errors of this AI model in this study on day 100, 300, and 500 are 4.67%, 6.53%, and 8.23%, respectively. This study can provide an effective and quick method for shale gas prediction and improve the intelligence level of energy development.

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“…1(b). In 2015, due to the breakthrough of shale oil and gas technology in the US [4], the traditional crude oil market suffered a small impact, also caused price fluctuations and a substantial drop [5]. Inevitably, the impact of these relevant events on crude oil prices is systemic.…”

Section: Introductionmentioning

confidence: 99%

Detecting Potential Market Corner Risk of WTI: A Hybrid Anomaly Detection Approach

Han

Crespi

et al. 2022

Preprint

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The price of crude oil is one of the most critical factors of the world economy, as it is volatile and sensibly affected by the macro-economic, thus attracting large-scale speculative activities. Well known its vulnerability, some of the price fluctuations are affected by external factors, such as financial crisis, oil trade war, while others are due to manipulation. Due to such facts, this article aims to clarify the characteristics and features of the market corner in the crude oil future market and detecting potential market corner risk in West Texas Intermediate (WTI), and a hybrid anomaly detection approach is proposed. After a detailed overview of the characteristics and definitions of the market corner, the features are extracted through the processing of actual market data. We first detect suspicious market corners with abnormal prices and volume through the local outlier factor algorithm (LOF). Next, the detected results are used as pseudo-labels, and the entire month’s trading behavior is trained and classified through the Support Vector Machine (SVM) and Random Forest (RF) algorithms to identifying potential market corners. Experimental results show that the proposed model has excellent accuracy, precision, recall, and F-score, indicating that the model is feasible and has strong robustness. Furthermore, based on the successful detection of potential market corner risk, the model can be further used for individual risk control and overall supervision of the crude oil futures market.

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The US Shale Gas Revolution and Its Externality on Crude Oil Prices: A Counterfactual Analysis

Cited by 25 publications

References 36 publications

Distributed Generation: A Review on Current Energy Status, Grid-Interconnected PQ Issues, and Implementation Constraints of DG in Malaysia

Distributed Generation: A Review on Current Energy Status, Grid-Interconnected PQ Issues, and Implementation Constraints of DG in Malaysia

Application of LSTM intelligent algorithm in shale gas development

Detecting Potential Market Corner Risk of WTI: A Hybrid Anomaly Detection Approach

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