This makes sense: since 2008, U.S. crude oil and gas production have respectively boomed 150% to 12.3 million b/d and 60% to 90 Bcf/d. The Great American Oil And Natural Gas Pipelines get approved in the first place because rising usage demands it.
Originating in Texas, we track nearly 40 pipelines covering 11,000 miles either being develop or in pre-construction development.
Just a few days ago the DC Circuit Court of Appeals upheld FERC orders approving the 197-mile, 1.7 Bcf/d Atlantic Sunrise Project (connecting PA gas to mid-Atlantic markets), denying numerous objections from anti-gas environmental groups.
The court backed FERC’s position of market need for the pipeline, specifically citing evidence that there were contracts for 100% of the capacity.
Indeed, very quietly, the International Energy Agency reports that the U.S. led the world in 2018 for new oil demand (+540,000 b/d) and new gas demand (+7.8 Bcf/d). (read that again).
For comparison, the annual increase in U.S. gas demand in 2018 was equivalent to the UK’s current consumption.
As the main sector of use, U.S. gas demand for electricity has soared 60% since 2008 to 30 Bcf/d.
Just as importantly, we are building an immense oil and gas export complex to bring reliable and affordable fuels to an energy-deprived world.
Now the largest oil and gas producer, we will probably become the largest exporter of both within five years.
In the rich Western economies, for instance, oil and gas supply over 60% of all energy.
Gas is especially the go-to fuel to lower emissions while backing up wind and solar power.
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Source: FORBES
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