The Growing Success—and Increasing Needs—of American Oil and Gas
By now it should come as no surprise that American manufacturing is back, and all signs point to full speed ahead. There are many reasons for this, and one of them is our country’s natural gas boom—an abundance of production and supply that’s helping to make manufacturing here more cost effective and competitive.
In fact, the Energy Information Administration recently reported that “soaring shale production” resulted in 2013 seeing the fastest growth rate ever for oil production.* Articles such as this one confirm this, pointing out that America should be completely self sufficient in oil production by 2037—meaning zero imports and enough domestic production to support the entire country’s energy needs.
Continuing Boom Increases Production
As it stands now, the country’s shale boom has lifted the nation’s daily production to about 3.22 million barrels, accounting for over 10% of the total world output.** All of this means that manufacturing is benefiting, and that local economies are getting a major boost. Additionally, many jobs are being created as a result – a trend not likely to end soon.
As these new oil and gas wells are dug, and it stands to reason that many more will be in the near future, there will be an increased need for maintenance of these wells. Researchers have estimated that there are currently over 1.1 million active oil and gas wells in the country. As the wells increase and the maintenance subsequently increases, so too will the need for equipment, tools, pipelines for transportation, and more.
Growth in Pipeline Construction
After all, more gas wells mean more transportation, and therefore more pipelines. While we haven’t seen this major increase in pipelines yet, it’s only a matter of time. And following this will be the need for better, more reliable valves, and more of them. Companies will need valves they can rely on, valves that are made to withstand the environments of oil and gas applications.
As an American valve manufacturer who is counted on by customers in need of the very best, we look forward to serving and meeting the needs of the oil and gas industry, and doing our part in this exciting time for the industry and the country.
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