What Do Rising Gas Prices Mean for the Entire US Economy?

In the space of a week, Hurricane Harvey has flooded miles of real estate, displaced thousands of Texans, and shut down more than ten percent of the United States’ ability to refine and extract oil and gas. Even if you’re not being bombarded with wind and rain, the impact of Hurricane Harvey will still be felt for some time to come. In fact, the price of a gallon of gas has climbed 18 cents since Hurricane Harvey struck in late August.

That price hike is bad enough for the average driver, but a climbing gas price is just the catalyst for several more troublesome economic repercussions. Here’s what the experts are forecasting.

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Nigeria Is Working to Reestablish Its Credibility On the World’s Oil and Gas Stage

It’s been a tough road for Nigeria as the oil-rich country has struggled to build up its energy industry. In spite of the nation’s ample resources and apparent willingness to commit themselves to oil and gas extraction, a small pocket of corruption has plagued the African nation’s development. Now, after years in the grip of a handful of scam artists, Nigeria is working its way back from the brink, and economic stability might be right behind it.

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The Decline in Active Wells Is Good News for Oil and Gas

Over the last six months, the United States oil and gas industry has seen incredible expansion. In June of 2016, the industry claimed 431 active rigs operating in the US. As of June 30, 2017, that number had leapt to 940 active rigs. Seven hundred and fifty-six of those are pumping oil, and 184 are extracting natural gas. The rise in production represents thousands of new jobs created since July of last year.

The last week in June, the United States’ overall rig count fell by a single rig. After 23 straight weeks of robust expansion in which the US oil and gas industry has reached 940 active rigs, the sudden downturn might strike some as a sign of trouble ahead.

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Will Investor Hesitation Destabilize a Thriving Permian Basin?

As the United States’ oil and gas industry continues to gain momentum, one of the most prominent performers has been Texas and New Mexico’s Permian Basin. Over the last few years, the Permian has come to represent the United States’ growing dominance in energy production. In recent months, however, some unexpected financial choices from some of the nation’s largest hedge funds have begun to make some investors wonder about the future of the Permian Basin.

Will the vast shale deposit continue to remain one of the United States’ most active oilfields, or does the future of oil and gas lie elsewhere in the nation?

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Drones: Swooping Soon Over an Oil and Gas Project Near You

It seems like drones are appearing more and more in our day-to-day lives. The United States government uses them in combat. Amazon is ironing out the wrinkles of a drone delivery system for its vast array of products. And now, the oil and gas industry is employing these flying sentinels to keep an eye on pipelines and projects across the world.

Get ready to meet the newest tool in the ongoing struggle to make oil and gas extraction safer, cheaper, and more efficient.

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Maryland’s Oil Ban Is Looking More and More Certain, But Is That Such a Bad Thing for the Industry?

On Friday, Maryland’s Republican Governor, Larry Hogan, announced that he fully supports a controversial bill that would ban fracking throughout the entire state. Considering the high profile legislation that’s been making the rounds in Maryland’s Democratically-controlled state Congress, the announcement isn’t at all surprising.

Hogan’s support makes the Maryland fracking ban all but a certainty, meaning that Maryland’s oil reserves won’t be contributed to the nationwide stockpile. But, is that really such a bad thing?

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Assaults on Cybersecurity Are Increasingly Common in the Oil and Gas Industry

More and more, the world’s business is being done online. Even oil and gas companies that don’t rely on the internet for their overall well being have begun to maintain at least a small presence on the world wide web. Of course, this innovation is a double-edged sword, especially in oil and gas. Your company needs to be online to survive, but if you’re in the energy industry your company might be a more tempting target than you realize.

Whether digital “hacktivists” are targeting your company to further their agenda, common criminals are hoping to take advantage of your company’s largess, or a competitor hoping to snoop out an advantage by rummaging through your files, oil and gas companies are at big time risk of cyber assault. Here’s what you need to know.

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