Louisiana Mid-Continent Oil & Gas Association

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.

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Petroleum Facts at a Glance – October 2009

1. U.S. petroleum imports (crude & products) in September 2009: 11,591,000 barrels per day (September 2008: 11,562,000 b/d). [API]

2. Total imports in September 2009 as a percentage of total domestic petroleum deliveries: 62.4 percent (September 2008: 64.8 percent). [API]

3. Persian Gulf petroleum imports in July 2009 as a percentage of total imports: 19.8 percent (July 2008: 22.6 percent). [DOE]

4. Average price for a barrel of OPEC crude oil for the week ending October 2, 2009: $65.09 [DOE]

5. Average U.S. refiner acquisition cost in August 2009 for a barrel of crude oil: $70.25. [DOE]

6. U.S. crude oil production in September 2009: 5,293,000 b/d (of which 681,000 b/d was Alaskan) (September 2008: 3,930,000 b/d). U.S. production of natural gas liquids in September 2009: 1,985,000 b/d (September 2008: 1,514,000 b/d). [API]

7. U.S. marketed natural gas production in July 2009: 59.8 billion cubic feet per day (July 2008: 60.1 billion cf/d). [DOE]

8. U.S. deliveries from primary storage of motor gasoline in September 2009: 9,058,000 b/d (September 2008: 8,497,000 b/d). [API]

9. U.S. deliveries from primary storage of distillate fuel oil (home heating and diesel) in September 2009: 3,684,000 b/d (September 2008: 3,740,000 b/d). [API]

10. Total petroleum products delivered to the domestic market in September 2009: 18,566,000 b/d (September 2008: 17,839,000 b/d). [API]

11. Average active rotary drilling rigs in the U.S. as of October 9, 2009: 1,041 (all-time high of 4,530 announced 12/28/81; record low of 488 announced 4/23/99). (2008 average: 1,879) [Baker Hughes Inc., Houston]