By November 21, 2018 0 Comments Read More →

Be Thankful For These 12 Energy Developments In 2018

This year like all years has seen ups, downs, advances and gains. Yet from an energy perspective, there is much to be thankful for during this uniquely American holiday. Here is our 2018 year-to-date countdown of energy developments in which to be thankful:

12. No Peak Oil: In 2018, peak oil output did not arrive in the U.S. at the 6.3 million barrels of oil per day (MMbbl/d) level predicted by the EIA 2008 Long Term Energy Outlook. Our most recent Oil Comparables Weekly report shows the nation hit a new record of 11.7 MMbbl/d of crude and condensate production in the field last week, according to the latest EIA data.

11. Lower Emissions: Available 2018 year-to-date data for CO2 equivalent emissions from energy use are down 11.4% from data for the same period of 2008, according to EIA monthly data through July.

10. Strong Growth and Tame Inflation:  In 2018, EIA’s reference annual outlook for inflation is still 2.3% while the EIA’s short-term GDP growth forecast is 2.9% for the next four quarters.

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Posted in: Daily News

About the Author:

The Louisiana Oil & Gas Association (known before 2006 as LIOGA) was organized in 1992 to represent the Independent and service sectors of the oil and gas industry in Louisiana; this representation includes exploration, production and oilfield services. Our primary goal is to provide our industry with a working environment that will enhance the industry. LOGA services its membership by creating incentives for Louisiana’s oil & gas industry, warding off tax increases, changing existing burdensome regulations, and educating the public and government of the importance of the oil and gas industry in the state of Louisiana.

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