Changes in oil, natural gas industries catch some producers by surprise

Oklahoman energy columnist Adam Wilmoth writes that just five years ago, energy industry observers and authors were touting the end of oil in the United States. Today, they are focusing on what to do with the glut of oil that has been tapped.
by Adam Wilmoth Published: October 5, 2012
Advertisement
;

And it happened much faster than almost anyone expected.

Even producers didn't realize their rapid increase in natural gas production would so quickly flood the market and cause prices to collapse.

Just five years ago, industry leaders were planning dozens of liquefied natural gas import facilities that would allow the country to bring in natural gas produced in other parts of the world.

Today, the natural gas industry is trying to increase demand by promoting use in electricity generation and as fuel for cars and trucks.

Some in the industry also are looking to build liquefied natural gas export terminals on the same sites where they wanted to build import facilities just a few years ago.

The change has made the politicians' talk of energy independence possible and created new challenges and opportunities for the industry and the country.


by Adam Wilmoth
Energy Editor
Adam Wilmoth returned to The Oklahoman as energy editor in 2012 after working for four years in public relations. He previously spent seven years as a business reporter at The Oklahoman, including five years covering the state's energy sector....
+ show more


To learn more

Read the second part of a series on energy independence in Sunday's editions of The Oklahoman.

Trending Now


AROUND THE WEB

  1. 1
    10 Most Popular Wedding 'First Dance' Songs
  2. 2
    Psychologists Studied the Most Uptight States in America, and Found a Striking Pattern
  3. 3
    Facebook Post Saves Drowning Teen
  4. 4
    Saturday's front page of the New York Times sports section is simple: LeBron James and transactions
  5. 5
    The 19th-century health scare that told women to worry about "bicycle face"
+ show more