Permian Basin will play central role in world’s growing energy needs

For decades to come, oil and natural gas will remain critical to improving quality of life worldwide, and the Permian Basin, where production is forecast to rise from the current 20 percent of all U.S. production to 60 percent by 2030, will be central to that effort.

That’s the crux an interesting new story in the Midland Reporter-Telegram covering a recent talk by Chevron executive Ryder Booth at the Midland Chamber of Commerce’s annual State of Oil and Gas luncheon.

Booth, the vice president for the Mid-Continent Business Unit with Chevron North America, says the ramp-up in production will require ample investment and increased activity in the Permian Basin, along with significant efforts and collaboration among industry partners and government regulators to reduce environmental impacts, such as emissions and water usage.

“What we do is important,” Booth said. “What we do raises the quality of life in the rest of the world.’

Read the full Midland Reporter-Telegram story here.