Loading...
Loading...
the-plains-report
the-plains-report

The Plains report

0

The Plains is home to the third-smallest industrial gas market out of the eight regions of the US. Despite this, revenues generated by the commercial industrial gas activities amounted to over $1.6bn in 2015. This was up from $1.1bn in 2005, indicating an average annual growth rate of 3.9%. 

The region’s economy has historically relied on arable farming and cattle ranching to drive growth. However, since 2000 the region has diversified its output, with a major new contribution hailing from the ongoing oil boom being witnessed in North Dakota. The state is now the second-largest oil producer in the country. Overall GDP growth for the decade has averaged at 3.4% per annum (p.a.) – the only slight decline was witnessed in 2009 (0.9%). Growth has been positive since 2010, with 2015 seeing an increase of just under 3%.

Industrial production, as measured by the Industrial Production Index (IPI), has faced a more turbulent period – with declines witnessed during the recessionary periods of 2001 and 2008/2009.

... to continue reading you must be subscribed

Subscribe Today

Paywall Asset Header Graphic

To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.

Please wait...