Dean Foreman, Chief Economist, Texas Oil & Gas Association joined Grayson Brulte on The Autonomy Economy podcast to discuss the current state the U.S. economy and the global oil and natural gas markets.

Consumer debt in the U.S. is rising and that could have potential impacts on GDP. While the economic picture in the U.S. is uncertain at the moment, global oil demand is projected to reach 104.1 million barrels per day this year. Demand is partly being driven by emerging markets. 

Then there is Texas, which continues to export oil to the world, while having a $720 billion impact on GDP. Texas is not just an oil state anymore, even though 30% of the state’s private sector is employed by the oil and natural gas industry, it is now becoming a high-tech state as it has begun to integrate AI, automation and autonomy into the sector’s operations. 

Recorded on Monday, February 24, 2025

Episode Chapters

0:00 Health of the U.S. Consumer

5:57 Liquid Natural Gas Market

11:00 Data Centers

15:32 European Gas

18:51 U.S. Oil Imports

24:45 Heavy Crude

26:53 Growing Global Oil Demand & Geopolitics

29:50 Permian Basin

33:34 Impact of the Oil & Natural Gas Industry on Texas' Economy

35:29 Quarterly Outlook

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