Production of natural gas in the United States has been increasing for the past decade and peaked at 930 billion cubic meters in 2019. However, production decreased by nearly 15 billion cubic meters in the following year. An increase in production corresponded with rising demand for natural gas in the United States, particularly after the 2008 Recession.
Natural gas becomes competitive
Since the early 2000s, the price of coal had been going up, and increased more rapidly following the 2008 Recession, which affected the cost of crude oil to an even greater degree. When the price of crude oil peaked shortly after the financial crisis, consumption of petroleum decreased in the next year. Simultaneously, the cost of natural gas dramatically decreased, making it a stronger competitor with coal and petroleum.
The rise of fracking
Low-interest rates during the Recession led to new investments in new techniques to obtain natural gas, such as horizontal drilling and hydraulic fracturing, that may be controversial due to health and environmental impacts. Often obtained through fracking, shale gas has become a common form of natural gas, and shale gas production in the United States has increased dramatically since the financial crisis.
Natural gas production in the United States from 1998 to 2020
(in billion cubic meters)
Excluding flared or recycled gas.
According to the source, the data represent standard cubic meters (measured at 15°C and 1,013 mbar) where possible. Since the data are derived directly from metric tons of oil equivalent using an average conversion factor, they do not necessarily equate with gas volumes expressed in specific national terms. The figures from 1998 through 2007 are taken from a previous edition of the publication.
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BP. (July 8, 2021). Natural gas production in the United States from 1998 to 2020 (in billion cubic meters) [Graph]. In Statista. Retrieved January 28, 2022, from https://www.statista.com/statistics/265331/natural-gas-production-in-the-us/
BP. "Natural gas production in the United States from 1998 to 2020 (in billion cubic meters)." Chart. July 8, 2021. Statista. Accessed January 28, 2022. https://www.statista.com/statistics/265331/natural-gas-production-in-the-us/
BP. (2021). Natural gas production in the United States from 1998 to 2020 (in billion cubic meters). Statista. Statista Inc.. Accessed: January 28, 2022. https://www.statista.com/statistics/265331/natural-gas-production-in-the-us/
BP. "Natural Gas Production in The United States from 1998 to 2020 (in Billion Cubic Meters)." Statista, Statista Inc., 8 Jul 2021, https://www.statista.com/statistics/265331/natural-gas-production-in-the-us/
BP, Natural gas production in the United States from 1998 to 2020 (in billion cubic meters) Statista, https://www.statista.com/statistics/265331/natural-gas-production-in-the-us/ (last visited January 28, 2022)
