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Costs of Inefficient Regulation: Evidence from the Bakken / Gabriel E. Lade, Ivan Rudik.
- Format:
- Book
- Author/Creator:
- Lade, Gabriel E.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w24139.
- NBER working paper series no. w24139
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Costs of Inefficient Regulation
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2017.
- Summary:
- Efficient pollution regulation equalizes marginal abatement costs across sources. Here we study a new flaring regulation in North Dakota's oil and gas industry and document its efficiency. Exploiting detailed well-level data, we find that the regulation reduced flaring 4 to 7 percentage points and accounts for up to half of the observed flaring reductions since 2015. We construct firm-level marginal flaring abatement cost curves and find that the observed flaring reductions could have been achieved at 20% lower cost by imposing a tax on flared gas equal to current public lands royalty rates instead of using firm-specific flaring requirements.
- Notes:
- Print version record
- December 2017.
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