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Oil

US oil boom boosts GDP, but are high prices needed to avoid a recession?

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Listen: US oil boom boosts GDP, but are high prices needed to avoid a recession?

On this week's Platts Capitol Crude, we look at the impact of the US shale boom on the US economy as the Trump administration continues to push the narrative that a recession is not imminent.

Mine Yucel and Michael Plante with the Federal Reserve Bank of Dallas call in to talk about the impact of US shale growth on GDP and how the correlation between oil prices and US economic health has changed.

Yucel and Plante wrote the paper "The US Shale Oil Boom, the Oil Export Ban, and the Economy: A General Equilibrium Analysis," which claims that US light oil output caused a 1% jump in GDP.