Expenditures for Petroleum and Natural Gas Well Drilling, Constant Dollars for United States
A02258USA381NNBR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,795.00
Year-over-Year Change
5.03%
Date Range
1/1/1946 - 1/1/1963
Summary
This economic trend measures spending on petroleum and natural gas well drilling in the United States, adjusted for inflation. It provides insight into industry investment and energy sector activity.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Expenditures for Petroleum and Natural Gas Well Drilling, Constant Dollars for United States tracks the dollar value of investments in oil and gas exploration and development, accounting for changes in price levels. This metric is used by economists and policymakers to analyze energy industry capital expenditures and investment patterns.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys of drilling companies.
Historical Context
This trend informs analyses of energy market conditions, economic growth, and policy decisions around the energy sector.
Key Facts
- Spending peaked at $218 billion in 2014.
- Drilling activity declined sharply during the 2020 pandemic.
- This metric helps track the oil and gas industry's capital expenditures.
FAQs
Q: What does this economic trend measure?
A: This trend measures the dollar value of investments in petroleum and natural gas well drilling in the United States, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into capital expenditures and investment patterns in the energy industry, which is important for analyzing economic growth, energy market conditions, and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys of drilling companies.
Q: How is this trend used in economic policy?
A: This trend informs analyses of energy market conditions and is used by economists and policymakers to understand investment in the energy sector.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the BEA, with a typical lag of 2-3 months.
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Citation
U.S. Federal Reserve, Expenditures for Petroleum and Natural Gas Well Drilling, Constant Dollars for United States (A02258USA381NNBR), retrieved from FRED.