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Improved efficiency is enabling record U.S. crude oil production from fewer rigs

Crude oil production in the U.S. Lower 48 (L48) states, which excludes Alaska and offshore production, reached a record 11.3 million barrels per day (b/d) in November 2024, according to our estimate in the latest Short-Term Energy Outlook (STEO) published on December 10. Crude oil production in the L48 states increased 3% year over year despite fewer active rigs in most major producing regions, demonstrating gains in operational efficiency.
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Intensified Coastal Hazards from Climate Change on U.S. Southeast Coast
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Intensified Coastal Hazards from Climate Change on U.S. Southeast Coast

While previous research has largely focused on flooding, the new study highlights additional threats such as groundwater hazards, land subsidence, and beach erosion. These hazards, often underappreciated in climate discussions, will be amplified by sea levels projected to rise by one meter over the next century. The study estimates that up to 70% of coastal residents and $1 trillion in property could face challenges from shallow and emerging groundwater. This risk is 15 times greater than the exposure to daily tidal flooding alone. Figure a, Coastal flooding (no storm), shallow groundwater exposure and erosion (unimpeded model case) for one meter
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