1. Notes : MARS refers to an offshore drilling site in the Gulf of Mexico
Notes : MARS refers to an offshore drilling site in the Gulf of Mexico. WTI = West Texas intermediate, LLS = Louisiana light sweet, FSU = former Soviet Union, UAE = United Arab Emirates.
From: The Impact of the Shale Oil Revolution on U.S. Oil and Gasoline Prices
Rev Environ Econ Policy. 2016;10(2): doi: /reep/rew001
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2. Source : U.S. Energy Information Administration Annual Energy Outlook 2014.
From: The Impact of the Shale Oil Revolution on U.S. Oil and Gasoline Prices
Rev Environ Econ Policy. 2016;10(2): doi: /reep/rew001
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3. Notes : CA = California, CO = Colorado, LA = Louisiana, MT = Montana, ND = North Dakota, NM = New Mexico, OH = Ohio, OK = Oklahoma, PA = Pennsylvania, TX = Texas, WV = West Virginia, WY = Wyoming.
From: The Impact of the Shale Oil Revolution on U.S. Oil and Gasoline Prices
Rev Environ Econ Policy. 2016;10(2): doi: /reep/rew001
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4. Notes : Production data for the former Soviet Union have been excluded to maintain consistency over time and because the Soviet Union was not a major participant in the global oil market. Production data are for crude oil and lease condensate, but exclude natural gas plant liquids. Because natural gas liquids tend to be used as feedstocks for the petrochemical industry rather than for producing fuel, they are excluded from our analysis of the crude oil and gasoline markets. It should be noted, however, that some natural gas liquids can be used in gasoline blending and as feedstocks in gasoline production.
From: The Impact of the Shale Oil Revolution on U.S. Oil and Gasoline Prices
Rev Environ Econ Policy. 2016;10(2): doi: /reep/rew001
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5. Notes : LLS = Louisiana light sweet (first purchase price), WTI = West Texas intermediate.
From: The Impact of the Shale Oil Revolution on U.S. Oil and Gasoline Prices
Rev Environ Econ Policy. 2016;10(2): doi: /reep/rew001
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6. Notes : Petroleum is defined to include both crude oil and refined products.
From: The Impact of the Shale Oil Revolution on U.S. Oil and Gasoline Prices
Rev Environ Econ Policy. 2016;10(2): doi: /reep/rew001
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