	(1)	(2)	(3)	(4)
VARIABLES	numparties_posdir	numparties_posdir	numparties_posdir	numparties_posdir
				
pc_oil_gas_2003	-0.0127***	-0.0132***	-0.0127***	-0.0132***
	(0.00205)	(0.00262)	(0.00205)	(0.00262)
delt2003oil	0.0306***	0.0361***	0.0306***	0.0361***
	(0.00382)	(0.00444)	(0.00382)	(0.00444)
Constant	1.400***	0.666**	1.400***	0.666**
	(0.118)	(0.265)	(0.118)	(0.265)
				
Observations	220	220	220	220
R-squared	0.041	0.092	0.041	0.092
Robust standard errors in parentheses				
*** p<0.01, ** p<0.05, * p<0.1				
