Modeling the Economic Impacts of Offshore Oil and Gas Activities in the Gulf of Mexico: Methods and Applications

摘要

Recent changes in oil and gas activities on the Gulf of Mexico (GOM or Gulf) Outer Continental Shelf (OCS) have sparked interest in the economic impact that these activities have on coastal regions. Over the past several years, the MMS has initiated a number of different research projects of increasing degrees of sophistication, attempting to examine the relationship between OCS activity and the socioeconomic environment of coastal regions on the GOM. Recent MMS approaches have included the use of a common methodology known as Input-Output (I-O) modeling. I-O models examine relationships between industries and other economic agents within an economy. The mathematical formula used to construct an I-O allow a researcher to simulate the effects that a change in one or several economic activities has on the entire economy.