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
The Louisiana Oil and Gas Industry has a $70 billion impact upon the state, according to an economic study conducted by Dr. Loren Scott on behalf of the Louisiana Mid-Continent Oil and Gas Association. The most recent study shows that each petroleum industry job supports 4.5 additional jobs in the state.The industry pays $1.4 billion in state taxes and fees and more than $4 billion in wages. For the full report click here or for the shorter executive summary, click here. Both files are in PDF format.

Current Oil Prices and Other Information The latest crude oil, natural gas, and gasoline prices. Spot Prices Natural Gas Futures Prices Gasoline and Diesel Fuel Prices Oil and Gas Prices

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)