RESOURCESfor the FUTUREBooming and Busting:The Mixed Fortunes ofUS Oil and Gas-Producing RegionsIssue Brief 25-04 by Daniel Raimi,Sarah Doctor,Noah Kaufman,and Zachary Whitlock-February 20251.IntroductionBut despite this surge in overall production,it's not allboom times in the oil patch.In fact,production in someIn the early years of the shale revolution,someof the most significant oil and gas-producing regionsprominent voices argued that the boom would be short-of the pre-shale era have declined steadily,creatinglived (Hughes 2013).As recently as 2018,some warnedlocal economic challenges including losses of jobsthat the inevitable bust would even pose risks to the USand tax revenue.What's more,enhanced efficiencies,financial system (McLean 2018).But today,more thanautomation,and other factors are driving down15 years after companies began producing substantialemployment in the US oil and gas industry.Comparedquantities of natural gas and oil from shale and otherwith 10 years ago,US oil and gas employment has fallen"tight"rocks,the revolution marches onward,with USby about 40 percent while production has increasedoil and gas production at all-time highs.In 2023,theby about 60 percent for oil and almost 50 percent forcountry produced about 13 million barrels of crude oilnatural gas (BLS 2024;EIA 2024a,2024b).per day (mb/d)and more than 40 trillion cubic feetof natural gas (EIA 2024a,2024b)and was the globalIn short,the economic outlook for US oil and gas-leader in both categories.producing regions is highly variable.Many uncertainfactors will shape those regions'economic futures,mostFigure 1.US Oil and Natural Gas Production,1900-2020Natural Gas1445401035252015105019001920194019601980200020201900192019401960198020002020RFFData source:1900-1921 data from American Petroleum Institute (1984);all other data from US Energy Information Administration.Note:"Oil"refers to field crude production,and"natural gas"refers to marketed production.每日免费获取报告每日微信群内分享7+最新重磅报告；行研报告均为公开版，权利归原作者所有，起点财经仅分发做内部学习。▣扫一扫二维码关注公号回复：“研究报告”加入“起点财经”微信群