Natural Gas Projections & Thoughts for the New Year
Since the new year is unfolding this month, we thought it would be a perfect time to check out a few of the more interesting natural gas projections flying around the industry and to share a handful of our own thoughts as we head into 2017. So, here’s a quick rundown of the latest good news (in case you’re looking for a mood boost).
Production Is Going Up
According to all kinds of research reported this month, our country is expected to continue producing natural gas at a faster and faster rate this year. In a recent article on Forbes, analyst Jude Clemente said that Trump’s election to the presidency is a big factor in these projections because he’s bringing in an administration who’s “dead set on helping our oil and gas industry.” Increasing industrial demand and greater exports are also significant influencers that promise to keep production climbing into 2020, some say. (For a good read, take a look at Clemente’s full article here.)
Awareness Is Growing
As firm believers in the potential of natural gas to help build a clean air future, we’re really encouraged by this update. Around the globe, awareness of the benefits of natural gas is growing—particularly regarding its value as a transitional fuel while we go toward widespread use of more renewable energy sources. Spark of Freedom Foundation President James Taylor reported last week that, though coal will likely remain on top for electricity production globally, some analysts are saying “…natural gas will surpass coal by 2040 in terms of all energy uses combined.” The thrust behind this good news is the much wider range of energy uses for natural gas. (Coal is mainly confined for use in electricity production.) For more on this topic, check out Taylor’s article on Forbes here.
We’re Still the Biggest Consumers
The stats for 2016 are in, and the good old United States remains at the top of the list of nations in natural gas consumption. What’s great about these numbers is that they confirm our nation is continuing to buzz along, growing, producing and gaining strength. Here are the top ten consumers measured in cubic meters, with China falling in the middle, interestingly, and our Mexican neighbors at a strong position ten.
- United States – 778,000,000,000
- European Union – 402,100,000,000
- Russia – 391,500,000,000
- Iran – 191,200,000,000
- China – 177,300,000,000
- Japan – 113,400,000,000
- Saudi Arabia – 106,400,000,000
- Canada – 102,500,000,000
- Mexico – 83,200,000,000
- Germany – 74,600,000,000
All in all, 2017 promises to be a great year (starting a run of many great years to come) for the natural gas industry in America. We hope you’re as pleased about this news as we are! If you’ve recently learned of other interesting trends or projections, we’d love to hear about them. Feel free to share in the comments section below.