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The Louisiana Mid-Continent Oil and Gas Association represents all sectors of the oil and gas industry operating in Louisiana and the Gulf of Mexico. One of the goals of the oil and gas industry is to cooperate in harmony with the environment. Updated Economic Report for 2007 The Energy Sector: Still A Giant
Economic Engine for The Louisiana Economy
Petroleum Facts at A Glance 1. U.S. petroleum imports (crude & products) in March 2008: 12,360,000 barrels per day (March 2007: 13,876,000 b/d). [API] 2. Total imports in March 2008 as a percentage of total domestic petroleum deliveries: 60.7 percent (March 2007: 67.6 percent). [API] 3. Persian Gulf petroleum imports in January 2008 as a percentage of total imports: 19.4 percent (January 2007: 18.9 percent). [DOE] 4. Average price for a barrel of OPEC crude oil for the week ending April 4, 2008: $98.88 [DOE] 5. Average U.S. refiner acquisition cost in February 2008 for a barrel of crude oil: $88.66. [DOE] 6. U.S. crude oil production in March 2008: 5,106,000 b/d (of which 755,000 b/d was Alaskan) (March 2007 : 5,220,000 b/d). U.S. natural gas liquids production in March 2008: 1,825,000 b/d (March 2007: 1,767,000 b/d). [API] 7. U.S. marketed natural gas production in January 2008: 59.0 billion cubic feet per day (January 2007: 55.3 billion cf/d). [DOE] 8. U.S. deliveries from primary storage of motor gasoline in March 2008: 9,284,000 b/d (March 2007: 9,169,000). [API] 9. U.S. deliveries from primary storage of distillate fuel oil (home heating and diesel) in March 2008: 4,180,000 b/d (March 2007: 4,328,000 b/d). [API] 10. Total petroleum products delivered to the domestic market in March 2008: 20,368,000 b/d (March 2007: 20,529,000 b/d). [API] 11. Average active rotary drilling rigs in the U.S. as of April 11, 2008: 1,815 (all-time high of 4,530 announced 12/28/81; record low of 488 announced 4/23/99). (2007 average: 1,768) [Baker Hughes Inc., Houston] April 15, 2008 (F)
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