POV: Power Breakfast

Power Breakfast for May 26, 2016

Texas economy holding strong says the Federal Reserve Bank of Dallas; EIA reports a 21 percent increase in natural gas consumption


POV: Power Breakfast

A nearly daily update of energy-related news:

  • Senior economist Keith R. Phillips said in a video on the Federal Reserve Bank of Dallas’s website that the Texas economy is continuing to hold strong despite low oil prices. According to the Texas Employment Forecast released this month, data indicates that there could be upwards of 175,000  jobs added this year. “Jobs have to decline in order for there to be a recession, and the forecast suggests that jobs will continue to grow…,” Phillips said. “There’s still a possibility that things will weaken…, but I think our best forecast is that Texas will continue to grow this year.”
  • According to the EIA’s Annual Energy Outlook, consumption of natural gas is projected to rise 21 percent by 2040, from 28 Tcf in 2015 to 34 Tcf in 2040. Of this increase, the industrial sector makes up 49 percent of the growth while the electric power sector comprises 34 percent.
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