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 – March 2010

1. U.S. petroleum imports (crude & products) in February 2010: 11,377,000 barrels per day (February 2009: 12,190,000 b/d). [API]

2. Total imports in February 2010 as a percentage of total domestic petroleum deliveries: 60.4 percent (February 2009: 65.2 percent). [API]

3. Persian Gulf petroleum imports in December 2009 as a percentage of total imports: 16.2 percent (December 2008: 20.5 percent). [DOE]

4. Average price for a barrel of OPEC crude oil for the week ending March 5, 2010: $76.66 [DOE]

5. Average U.S. refiner acquisition cost in January 2010 for a barrel of crude oil: $78.90. [DOE]

6. U.S. crude oil production in February 2010: 5,514,000 b/d (of which 681,000 b/d was Alaskan) (February 2009: 5,320,000 b/d). U.S. production of natural gas liquids in February 2010: 2,014,000 b/d (February 2009: 1,792,000 b/d). [API]

7. U.S. marketed natural gas production in December 2009: 60.3 billion cubic feet per day (December 2008: 59.4 billion cf/d). [DOE]

8. U.S. deliveries from primary storage of motor gasoline in February 2010: 9,012,000 b/d (February 2009: 8,816,000 b/d). [API]

9. U.S. deliveries from primary storage of distillate fuel oil (home heating and diesel) in February 2010: 3,681,000 b/d (February 2009: 3,915,000 b/d). [API]

10. Total petroleum products delivered to the domestic market in February 2010: 18,823,000 b/d (February 2009: 18,706,000 b/d). [API]

11. Average active rotary drilling rigs in the U.S. as of March 12, 2010: 1,407 (all-time high of 4,530 announced 12/28/81; record low of 488 announced 4/23/99). (2009 average: