The U.S. Energy Information Agency has released its Annual Energy Outlook for 2018, with projections to 2050. The EIA calls for massive growth in oil and LNG production and exports over the next few decades, which will be a boon for the trucking industry.
The American oil boom has already electrified the wider economy and increased demand for truckload miles; could it also stabilize fuel prices long term?
The Trump administration wants to open up nearly all of the outer continental shelf to offshore drilling. That means more energy production, more economic growth, and more truckload miles.
The Permian Basin is breaking production records but drillers cannot find enough drivers to haul the crude, equipment, and crew.
American oil production and the number of rigs should reach record highs in 2018. This is good news for trucking: both demand for truckload miles and overall economic growth will increase.
