Ask anyone and they'll tell you that the US' oil and gas industry is not only impressive, but it plays a significant role in our economy. While we continue to restore the economy to its once flourishing state, there's no doubt that the influx in oil and gas production, especially over the past decade or so, has directly influenced this revival.
From oil production to natural gas, and the more recent implementation of hydraulic fracking, the figures speak for themselves.
And here's what they're saying, courtesy of a statista infographic:
<a href="http://www.statista.com/chart/2741/the-oil-and-gas-industry-in-the-united-states/" title="Infographic: The Oil and Gas Industry in the United States | Statista"><img src="https://d28wbuch0jlv7v.cloudfront.net/images/infografik/normal/chartoftheday_2741_The_Oil_and_Gas_Industry_in_the_United_States_n.jpg" alt="Infographic: The Oil and Gas Industry in the United States | Statista" style="width: 100%; height: auto !important; max-width:960px;-ms-interpolation-mode: bicubic;"/></a>
For the steel industry, these numbers are promising. As we continue to drill and extract oil, natural gas and shale gas, there will be a demand to maintain, construct and transport said oil and natural gas. And using steel OCTG and line pipe is one option to ensure a safe and compliant transportation over long distances.
What do you think? Will the oil and gas industry continue to help rebuild America’s economy? Share your thoughts in the comments below.