Three factors are working in West Virginia’s favor right now: a global infrastructure boom, the rising price of natural gas, and the legacy of a recession that hit the Mountaineer State harder than most.
While most industries struggled during the recession, the energy sector actually performed relatively well. States like West Virginia, Texas, North Dakota and Oklahoma experienced revenue booms as hydraulic fracturing boosted the supply of oil and natural gas.
And while other industries bled jobs at a furious pace, West Virginia actually added mining jobs through even the depths of the recession: 35,300 West Virginians were employed in the mining and logging industry — the broad sector measured by the Bureau of Labor Statistics — at its recent peak, in December 2011
When US President Donald Trump promised to raise US natural gas exports in Europe in a speech in Poland, he was cheered by the crowd to the rooftops.
The average cost of a gallon of gas in the Pittsburgh area is $2.59, according to gas price monitoring website GasBuddy. That’s down more than two cents from a week ago and a decrease of more than seven cents from last month.
Futures climbed 0.6 percent in New York. Algerian Energy Minister Noureddine Boutarfa said Thursday that most OPEC members support Saudi Arabia and Russia’s proposal to prolong the curbs to March next year, and that the rate of compliance should increase. Prices had fallen earlier as the market got caught up in the turmoil surrounding Donald Trump.
The order could lead to a reversal of bans on drilling across swathes of the Atlantic, Pacific and Arctic oceans and the U.S. Gulf of Mexico that former President Barack Obama had sought to protect from development in the wake of the huge BP (BP.L) oil spill in the Gulf of Mexico in 2010.
CAMARILLO, Calif. (AP) — The average price of gasoline has jumped by 7 cents over the past two weeks, to $1.84 a gallon.