Energy Service Providers
The gas and petroleum market in the US is strong and growing. Development of resources is at an all-time high and the dependency on imported oil is shrinking. The effect on the economy is being felt as job growth in these industries continues to grow. Shale oil and gas production has opened up new resources. Underground resources are now being successfully processed. Much of this growth can be attributed to new technologies for finding and extracting shale oil and gas. The switch to natural gas for heating has increased the availability of petroleum supplies for fuels. Extremes in weather are motivating residence owners to move to a heating source that will be less subject to delivery problems.
Texas still leads in crude oil production and natural gas as well. The Lone Star State has the largest reserves of crude oil reserves of all the States. Texas also leads in consumption. Due to new advances in technology, production is rated at 1.2 million barrels a day. Texas has 27 refineries that can process as much as 4.7 million barrels of crude per day. A particular asset is that several of the State’s largest refineries are located on or near the Gulf Coast. This reduced shipping costs dramatically. These refineries utilize additional refining technology to produce lighter products such as gasoline. Added to this is a pipeline delivery network that moves petroleum to other parts of the Continental US.
Texas also leads in natural gas production. Texas has one third of the existing gas reserve fields in the Lower 48. The development of natural gas reserves and expansion of production led to the building of extensive pipelines throughout the continent.LNG, Liquefied Natural Gas increased in use in the 1980’s and LNG ports were built in Texas for shipping. The State also has 37 storage facilities, located in safe locations.
Pennsylvania and West Virginia are traditionally known for coal production but the discovery of shale resources has increased energy output along the east coast. Additionally, independent energy providers like Cunningham Energy have worked to developed new technologies to make this entire process more efficient.
The discovery of the Marcellus Shale has doubled the estimate of the State’s gas reserves. Like Texas, Pennsylvania is a major consumer of its own energy production. The natural gas production has enabled distribution via its own pipe network as well as networks in development.
Oil and natural gas production are having a dramatic effect on the economic recovery and new reserves are being discovered and processed.