Meier, Felix D.; Quaas, Martin F. - In: Journal of Environmental Economics and Management 107 (2021)
study implications for the order of extraction of conventional and shale gas, and a backstop technology, and characterize …. Once production shifts towards shale gas, investments decline. Consistent with current trends, our theory explains how gas … prices can follow a U-shaped path. The calibrated model suggests that U.S. shale gas production continues to grow and prices …