Oil Dependence and Economic Activity
Setting the stage
Let's quickly look at where this oil decline has left the state
What about Alaska's important economic base?
Why have some states recovered?
Aggregate relationship between oil prices and employment
Where does this leave us?
Share of GDP coming from oil
State
2010
2011
2012
2013
2014
2015
2016
2017
Louisiana
Montana
New Mexico
Oklahoma
Texas
Utah
Alaska 31.8% 35.2% 35.19% 32.61% 28.63%
Arkansas 3.03% 3.64% 3.14% 3.35% 3.47%
Colorado 5.08% 5.73% 5.21% 5.60% 6.32%
Kansas
1.65% 1.78% 1.86% 1.91% 1.79% 0.97% 0.63%
9.31% 9.78% 8.97% 8.13% 7.43%
4.92%
6.54% 7.42%
7.37% 7.13% 6.36%
10.45% 12.11% 11.90% 13.20% 13.85% 10.06%
North Dakota 8.36% 12.64% 16.33% 17.95% 18.35% 12.29%
13.16% 15.95% 14.51% 18.12% 19.62% 13.82%
10.71% 12.12% 12.61% 13.96% 14.55% 9.34% 6.95% 8.46%
3.67% 4.07% 3.66% 3.47% 3.55% 2.09% 1.64% 1.75%
West Virginia 14.5% 16.59% 13.4% 14.0% 14.11% 11.58% 10.24%
Wyoming 34.6% 35.18% 29.27% 28.86% 26.9% 21.25% 19.85% 23.33%
18.63%
2.12%
4.26%
15.28% 18.59%
1.43%
3.17% 3.79%
1.40%
0.71%
3.90%
4.66%
4.89%
4.06%
4.03%
8.07% 9.96%
9.03%
11.72%
10.22% 12.09%
12.87%
M
592
Mouhcine Guettabi, PhD
Oil dependence and economic activityView entire presentation