The shale gas revolution of the past fifteen years has likely generated far more benefits than costs. The net gain can be seen and illuminated using several different economic lenses, including those of institutional economics, Austrian economics, the Bloomington School of institutional analysis, and public choice.

Ilia Murtazashvili is associate professor in the Graduate School of Public and International Affairs at the University of Pittsburgh.
Ennio E. Piano is assistant professor in the Department of Economics at Middle Tennessee State University.
EnergyEnergy and the EnvironmentNatural Resources
Other Independent Review articles by Ilia Murtazashvili
Spring 2022 “The Danger of Deplorable Reactions”: W. H. Hutt on Liberalism, Populism, and the Constitutional Political Economy of Racism
Summer 2021 American Institutional Exceptionalism and the Trump Presidency
Summer 2020 The Fracking Debate: The Risks, Benefits, and Uncertainties of the Shale Revolution