Shale Gas Development and Housing Values over a Decade: Evidence from the Barnett Shale

摘要: Extracting natural gas from shale formations can create local economic benefits such as public revenues but also disamenities truck traffic, both of which change over time. We study how development affected zip code level housing values in Texas’ Barnett Shale, splits the Dallas-Fort Worth region half and is most extensively developed formation U.S. find that codes appreciated more than nonshale during peak less afterwards, with a net positive effect five to six percentage points 1997 2013. The greater appreciation part reflects improved finances: value rights expanded tax base by $82,000 per student, increasing school expenditures. Within codes, however, an extra well square kilometer was associated 1.6 point decrease period.