Gulf Coast Energy Outlook Forecasts Jobs and Industry Trends
BATON ROUGE – LSU researchers have released their first report that will track Gulf Coast economic markets, forecast future jobs and chart the direction of oil and gas energy in the region.
Researchers from the E. J. Ourso College of Business and the Center for Energy Studies have released the inaugural Gulf Coast Energy Outlook, which provides a broad overview of the current status and trends of energy markets with an emphasis on the Gulf Coast.
Christopher K. Coombs, energy adviser for the LSU Economics & Policy Research Group; David E. Dismukes, executive director and professor of the LSU Center for Energy Studies; Dek Terrell, director and professor for the LSU Economics & Policy Research Group; and Gregory B. Upton Jr., assistant professor of LSU Center for Energy Studies, all co-authored the report. Their goal is to have the Outlook become an annual report.
The collaborative research initiative focuses on upstream oil and gas production and downstream refining and petrochemicals, as well as the contribution of the energy sector to the broader Gulf Coast economy. The report includes forecasts of future employment in relevant energy sectors.
The Outlook shows that over the past decade, worldwide energy markets have been fundamentally changed due to the advent of U.S. shale oil and gas development. These changes have not only impacted the regions in which hydrocarbons are produced, but have also created significant changes to transportation, processing, and final products.
“Our research shows that the Gulf Coast has seen large increases in oil and gas production, with these increases concentrated in the state of Texas,” Upton said. “The growth of federal offshore production observed in the 1990s has been offset by U.S. onshore shale producers over this past decade. We are truly experiencing the next era of oil and gas production spearheaded by technological advancements made right here in our own Gulf Coast region.”
The new production has created significant investment opportunities in refining, petrochemicals and transport of hydrocarbons.
“We expect that these investments will continue in upcoming years,” Upton said.
Gulf Coast Energy Outlook and addendum.
Gulf Coast Energy Outlook presentation: http://www.lsu.edu/ces/presentations/2017/Upton_GulfCoastEnergyOutlook.pdf
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