Analysis: Don’t Look For Wind And Solar to Replace Oil Anytime Soon

Natural gas boom

Natural gas production in the oil-and-gas-rich Permian Basin, located in West Texas and New Mexico, increased almost threefold since 2014, from five billion cubic feet to nearly 14 billion. Nine billion cubic feet of natural gas is equivalent to 1.5 million barrels of oil today. This increase is from the Permian basin alone.

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