In 2050, EIA projections see fossil fuels supplying 79% of U.S. energy consumption, with nuclear, hydropower and biomass supplying 12.5%, and the “real” renewables that are part of the Green New Deal and other energy pipedreams (windmills and solar panels) supplying only about 8.5% of US energy consumption.
America’s status as the world’s leading energy superpower was just elevated to an even more impressive level as 12 new all-time monthly production records for crude oil and natural gas output were established during August.
1. Natural Gas (8 new records). The US produced more natural gas in August — 111.4 billion cubic feet per day – than in any previous month, and which represented an annual increase of 9.1% compared to last August. New natural gas production records were also established in the states of Texas (14.0%), Pennsylvania (11.3%), Louisiana (21.5%), Ohio (15.8%), West Virginia (18.1%), New Mexico (21.1%) and North Dakota (23.2%), which all had the double-digit percent increases year-over-year show above. Over a longer period of time, the most impressive gains in natural gas production are for Pennsylvania, which experienced a 38-fold increase in gas output since January 2006 when the EIA started reporting state-level production and a 31-fold increase in Ohio’s production over the same period. Pennsylvania and Ohio, along with West Virginia have the fortune of being situated on top of the prolific Marcellus and Utica Shale Formations, which is the largest source of natural gas in the US accounting for almost 30% of America’s total natural gas production (vs. about 25% from Texas).
Interestingly, a significant portion of the Marcellus and Utica Shale Formations (at least as large as the areas under Ohio and West Virginia) sits under New York state. But because of New York’s war on natural gas production (and new natural gas pipelines), those valuable and abundant low-cost, low-carbon energy resources are being idled and wasted. That state war on natural gas at least partly explains why New York residents pay prices for natural gas that are 36% higher than in Ohio, 25% higher than West Virginia, and 10% higher than Pennsylvania.
2. Crude Oil (4 new records). US oil production in August increased by nearly 9% from the same month last year and set a new all-time output record of 12.4 million barrels of oil per day (bpd). New monthly crude oil production records were also established in August for the states of Texas at 5.1 million bpd (13.2% year-over-year increase), North Dakota at 1.4 million bpd (nearly 13% annual increase) and New Mexico at 936,000 bpd (32% increase). The new production records in August for both oil and gas in New Mexico are thanks to the state’s fortunate proximity to the Permian Basin, America’s most prolific oil and gas formation.
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November 10, 2019 at 05:23AM