The Economic & Fiscal Impacts of the Oil & Gas Glut

[Slides]The Economic & Fiscal Impacts of the Oil & Gas Glut – Peter Evangelakis, Ph.D. & Chris Judson, REMI

[Recording]The Economic & Fiscal Impacts of the Oil & Gas Glut – Peter Evangelakis, Ph.D. & Chris Judson, REMI

Oil prices went negative last month for the first time in the history of the WTI benchmark. This decline was fueled by numerous factors, such as the global expansion of oil production to push out higher cost competitors, an unprecedented decrease in global demand due to the COVID-19 pandemic, limited storage capacity, production reduction complications, and the fundamentals of the WTI futures market.

Now, regional and global oil market prices are near historic all-time lows with natural gas regional markets not far behind. The nation, individual states, and regional organizations are concerned with the fate of companies, the jobs the industry supports, and vital tax revenues.

Please feel free to join REMI Senior Economist Peter Evangelakis, Ph.D. and Managing Economic Associate Chris Judson on Thursday, May 14th from 2:00 to 3:00 p.m. (ET) for their webinar presentation, “The Economic & Fiscal Impacts of the Oil & Gas Glut.”

Dr. Evangelakis and Mr. Judson will explore several scenarios associated with low oil and natural gas prices, including shorter- and longer-term industry responses and the fiscal impacts to states and the nation. This presentation provides demonstrations of how to model shifts in the oil and gas industry production function, potential options to fill gaps in a state budget, and downstream industry and occupational training opportunities.

During their webinar, Dr. Evangelakis and Mr. Judson look forward to examining scenarios pertaining to the changing oil and gas industry, other industry implications, government responses, and potential opportunities.

Scott Nystrom – COVID-19 in the Long-Term: Structural Economic and Demographic Changes

[Slides]COVID-19 in the Long-Term: Structural Economic and Demographic Changes – Scott Nystrom, FTI Consulting

[Recording]COVID-19 in the Long-Term: Structural Economic and Demographic Changes – Scott Nystrom, FTI Consulting

While the United States is currently bracing for the impact of perhaps its worst economic crisis since the Great Depression, COVID-19 is also likely to have a long-term impact on the American economy.

REMI will be joined by Senior Director Scott Nystrom from FTI Consulting as he presents his special guest webinar, “COVID-19 in the Long-Term: Structural Economic and Demographic Changes,” on Tuesday, June 9th from 2:00 to 3:00 p.m. (ET), with an encore presentation scheduled for Thursday, June 11th from 2:00 to 3:00 p.m. (ET).

This webinar presentation describes how the long-term impacts of COVID-19 would include changes to the labor market related to factors like more widespread teleworking and some permanence to social distancing measures. Mr. Nystrom will also explore how reduced demand for travel and transit, increased skepticism toward international trade, and shifting consumer preferences could affect the future of the American economy and its labor force.

The COVID-19 pandemic is trending toward significant long-term effects on U.S. demographics beyond its initial death rates by affecting migration and birth rates for the next generation. Mr. Nystrom’s guest webinar will use the REMI PI+ model to simulate the potential economic implications of major shifts in the country’s demographics as a result of the ongoing outbreak.