Jan 31, 2018

The transformation of the U.S. energy landscape

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Data: U.S. Energy Information Administration; Chart: Axios Visuals

The chart above is reconstructed from this new Energy Information Administration report on the rise of hydraulic fracturing and horizontal drilling in the U.S. — the methods that have allowed production of huge oil and gas resources from shale formations.

Why it matters: The steep upward and downward slopes on that graphic show how the marriage of horizontal drilling and fracking have utterly remade the U.S. energy landscape.

  • This is now helping to reshape global crude oil and natural gas markets and geopolitics.
  • U.S. oil production is expected to surpass 10 million barrels per day in the near future, roaring past the benchmark set briefly in 1970, and setting a record for annual production. Over 6 million of those barrels now come from shale.

Eyes peeled: EIA will report estimates later this morning on U.S. crude production for the week ending Jan. 26. The estimated tally for the week that ended Jan. 19 was roughly 9.9 million.

Go deeper

Oil industry predicts "severe consequences" if U.S. bans fracking

The oil industry and its backers are coming out swinging against proposals pushed by Democratic presidential candidates aiming to virtually eliminate oil and gas.

Why it matters: The emphasis, made at an annual luncheon attended by hundreds of energy executives, shows how worried the industry is about the potential impact of such proposals, including fracking bans.

Go deeperArrowJan 7, 2020

The U.S. shale slowdown hits Texas jobs

Photo: Spencer Platt/Getty Images

A new Dallas Fed report provides the latest evidence of how the slowdown in U.S. oil production growth is rippling through the shale patch.

Driving the news: The latest energy data shows that job losses in Texas — the heart of the U.S. oil boom — are "deeper than initially estimated."

Go deeperArrowDec 18, 2019

What Middle East crisis? Why oil prices aren't rising

Data: EIA; Chart: Axios Visuals

Despite rising unrest in the Middle East — including the death of an Iranian commander — America’s average gasoline prices have remained under $3 a gallon.

Why it matters: Practically speaking, it’s great for drivers’ pocketbooks — and President Trump’s re-election campaign. It also shows the remarkable cushion created by the United States' booming oil production, which has doubled over the last decade.

Go deeperArrowJan 8, 2020