Recent advances such as hydraulic fracturing, horizontal drilling, as well as new discoveries, increased exports, and infrastructure improvements will lead to less volatility, larger scale drilling programs, increased cycle times, and a larger permanent workforce and population. These changes and their associated spin-off effects will lead to myriad economic benefits, including increased output (real gross product), greater personal income, new (and higher paying) jobs, additional retail sales, and enhanced tax revenues. The resulting growth brings enormous potential benefits, but also has profound implications for housing, infrastructure, education, health & wellness, and quality of place. Proactive efforts to prepare for the coming growth can position the area to emerge stronger and more prosperous in the future.
Alaska LNG will revolutionize the Alaska economy, allowing domestic use of Alaska's natural gas resources while developing liquefied natural gas ("LNG") processing facilities so natural gas can be exported. People across the state will benefit, both directly and from multiplier effects through the economy.
Dr. Perryman describes the structure of natural gas purchase and usage in the state and how it could be adjusted to help prevent future outages.
The Marcellus Formation has surpassed the Permian Basin for fracking. Dr. Perryman explains why the Pennsylvania location is not likely to be ahead forever.
The manufacturing statistics for Texas in March were driven down by various factors associated with COVID-19 and the oil and gas industry. Dr. Perryman explains the effects.
It now appears the Permian Basin will be the largest oil and gas field in history. Dr. Perryman says by 2020, the Permian will produce seven to eight million barrels per day.
The latest numbers on oil production reveal the US is now producing 12 million barrels of oil per day, and Dr. Perryman says Texas is at the forefront.
The oil patch is again showing signs of life, and Dr. Perryman sees a number of reasons to be optimistic about the effect it will have on the state's economy.