United States

Crude Oil Price Differentials and Pipeline Infrastructure

Crude oil production in the United States increased by nearly 80 percent between 2008 and 2016, mostly in areas that were far from existing refining and pipeline infrastructure. The production increase led to substantial discounts for oil producers …

Step on It: A New Approach to Improving Vehicle Fuel Economy

We show that there is substantial variation in the fuel economy achieved on the road by drivers in identical vehicles and that the time costs of driving more efficiently make it unlikely that increasing gasoline taxes would substantially affect fuel …

Vertical Integration and Price Differentials in the U.S. Crude Oil Market

Vertical integration between regulated and unregulated businesses may create opportunities for upstream regulated assets to reduce input prices for their downstream operations. I provide the example of a refiner and pipeline owner in the U.S. crude …

Merger Analysis in Restructured Electricity Supply Industries: The Proposed PSEG and Exelon Merger (2006)