Natural gas production in the U.S. 1998-2023

Production of natural gas in the United States has been increasing for the past decade and peaked at nearly 1035.3 billion cubic meters in 2023. 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.