Posts tagged “hydraulic fracturing”
This is the 2nd installment in a series that examines data from the recently released Statistical Review of World Energy 2014. The previous post – World Sets New Oil Production and Consumption Records – delved into world oil production and consumption figures. Today’s post looks at the global natural gas picture.
In 2013 global natural gas production advanced 1.1% to a new all-time high of 328 billion cubic feet per day (Bcfd). Except for a one-year decline in 2008-2009, global gas production has risen fairly steadily for about three decades, and production has more than doubled during that time span:
This is the 4th installment in a series that examines data from the recently released 2013 BP Statistical Review of World Energy. The previous posts were:
- Renewable Energy Status Update 2013
- Hydropower and Geothermal Status Update 2013
- The State of Oil According to BP
Today’s post delves into the natural gas production picture.
The US as Gas King
Over the past seven years, the US has firmly established itself as the global king of natural gas production (and consumption). In 2011, the US produced 62.7 billion cubic feet per day (bcfd) — more natural gas than any country had ever produced in a single year. That record fell in 2012 when the US produced 65.7 bcfd — which represented just over 20% of all the natural gas produced in the world. And thus far in 2013, US natural gas production is running ahead of 2012’s record production level.
As a result of the hydraulic fracturing (fracking) revolution, US oil and natural gas production have been rising for several years. According to the Energy Information Administration (EIA), US oil production has risen by 27% over the past 5 years.
In reviewing the data for individual states, I came across some interesting trivia. So I decided to put together a little quiz. The data source is the EIA. A table showing the Top 15 states with the highest percentage increases in oil production follows the quiz. Answers are at the end.
1. Which state had the largest percentage increase in oil production over the past 5 years?
b. North Dakota
In this week’s episode of R-Squared Energy TV, I talk about the impact of natural gas in the U.S., and the Canadian economy.
Some of the topics discussed this week are:
- How I think natural gas prices will behave over the next 10 years
- Which industries will benefit the most from low natural gas prices
- The link between hydraulic fracturing (fracking) and earthquakes
- The relative strength of Canada’s economy
The following is a guest post from OilPrice.com. The subject — China’s foray into hydraulic fracturing — was also the topic of an energy roundtable I participated in this past summer: Roundtable on China’s Energy Future. My view is that the more energy China can produce domestically, the better for everyone as it keeps some pressure off of international energy markets. President Obama apparently agrees, based on the 2009 shale gas technology initiative he signed with Chinese President Hu Jintao. ——————————- China to Embrace Fracking In an Effort to Ramp up Energy Production China is leaving no shale deposit unturned in its effort to develop indigenous energy resources. On 24 November China’s Ministry of Land and Resources geological exploration department… Continue»