Long-term effects of income specialization in oil and gas extraction¶
Haggerty, J., Gude, P. H., Delorey, M., & Rasker, R. (2014). Long-term effects of income specialization in oil and gas extraction: The U.S. West, 1980-2011. Energy Economics, 45, 186-195.
Cited by¶
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Primes¶
- Bloom And Bust Cycle
- The structurally identical analysis applies to a 1980s oil-town boom whose price collapse triggered out-migration, leaving empty subdivisions and a public-finance hangover that defined municipal budgets for fifteen years
This sourceFinds that across six interior-Western oil-and-gas states participation in the early-1980s boom was at first positively associated with per-capita income but that the positive effect fades the longer a county remains specialized, with prolonged specialization associated with lower per-capita income, higher crime, and reduced educational attainment -- the long-run aftermath of oil boom-and-bust (out-migration eroding the tax base, fiscal and well-being drag) outlasting the boom-era gains.
- The structurally identical analysis applies to a 1980s oil-town boom whose price collapse triggered out-migration, leaving empty subdivisions and a public-finance hangover that defined municipal budgets for fifteen years
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