Dean Foreman

Sr Economist @GM | Former Strategy & Planning @Saudi_Aramco + @exxonmobil | Ph.D. Economist | @GatorsFB @PistonHeads

[United States Association for Energy Economics @USA4EE]

We were excited to have Thomas Gleeson, Chairman of the Public Utility Commission of Texas, deliver a keynote address at the 42nd @USA4EE Conference. He touched upon many topics, particularly the importance of improving load forecasting.
#USAEE42

[Todd Staples @Todd_Staples]

Great analysis by @RDeanForeman1 highlighting Texas produces about twice the #NaturalGas we consume in the state, and that nat gas anchors the ERCOT electric grid. This means HUGE amount of jobs/opportunity created by exporting the extra & plenty to meet power gen needs in TX.

[United States Association for Energy Economics @USA4EE]

📢 Registration is OPEN!

Join us Nov 16–19 in Fort Worth for the 42nd USAEE/IAEE North American Conference.

Meet the panel on "Cross-Industry Perspective on the Energy Outlook"

Panel details: https://t.co/na8p9obtZV

Register now: https://t.co/Md59Zjyk7A

#USAEE #IAEE #Energy

[Texas Oil & Gas Association @TXOGA]

Dispatchable power secures reliability, and natural gas is leading the way!

Despite ERCOT leading the nation with 40 GW of wind and 14 GW of batteries, on August 21, it was dispatchable resources reliably meeting demand:

✅ Dispatchable sources (natural gas, coal, nuclear) supplied 96%+ of the grid’s electricity for eight straight hours
✅ At the peak, they covered 98.5% of demand — with natural gas alone at 72.1%
✅ And all of this happened without a grid emergency and with modest electricity prices

Learn more at https://t.co/Mz2FPsdIAO

#txlege #txenergy #ercot

[Dean Foreman @RDeanForeman1]

⚡ Powering Texas: On Aug 20, ERCOT got up to 95.5% of its power from dispatch resources — incl. 72.3% from natural gas.
Texas leads in wind, solar & storage (10+ GW), but when load soars — projected +15–27% in 2026 — it’s dispatchable power that anchors reliability.
#ERCOT

[Texas Oil & Gas Association @TXOGA]

What happens when the wind doesn't blow and the sun doesn’t shine? Thermal and other dispatchable resources step up to the plate. Just last week, they supplied up to 95.5% of ERCOT electricity, with natural gas doing much of the heavy lifting at 72.3%. #txlege #txenergy

Learn about this (and more) in TXOGA's latest weekly chartbook: https://t.co/4X7dB9h0sl

[United States Association for Energy Economics @USA4EE]

REGISTRATION NOW OPEN
42nd USAEE/IAEE North American Conference November 16–19, 2025 | Fort Worth, TX | The Worthington Renaissance Fort Worth Hotel
REGISTRATION: https://t.co/9nQqfodc4z
CONFERENCE HOME PAGE: https://t.co/5Cewp5Uhqz
Video Preview: https://t.co/R6eYvmX7Kz

[Texas Oil & Gas Association @TXOGA]

A bonus episode of TXOGA Talks is now available! Join us for a deep dive into how global geopolitical developments are directly impacting the landscape for Texas oil and natural gas. Listen now: https://t.co/TBvAkg6xjM

[Texas Oil & Gas Association @TXOGA]

TXOGA today released its June 2025 Monthly Energy Economics Review (MEER), highlighting record-setting natural gas production and strong exports that reinforce Texas’ central role in powering the U.S. and global economies.

According to TXOGA’s estimates, Texas crude oil production remained steady at 5.7 million barrels per day (mb/d) in May 2025, while natural gas gross withdrawals rose to 36.9 billion cubic feet per day (bcf/d), with marketed production reaching a record 34.4 bcf/d. Natural gas liquids (NGLs) production remained strong at 4.0 mb/d.

“Texas consistently sets the standard for energy leadership,” said TXOGA President @Todd_Staples. “With abundant natural resources, top-tier infrastructure, and an ongoing commitment to innovation and improvement, this industry reliably delivers for families, communities, and our trading partners at home and across the globe.”

“Natural gas production in Texas continues to scale new heights, helping meet domestic needs while advancing our role as a global energy supplier,” said TXOGA Chief Economist @RDeanForeman1. “Strong market access and infrastructure investments have enabled Texas to deliver record volumes to consumers and export markets alike.”

Read more: https://t.co/AMUTZHk8a3

#txlege #txenergy

[Texas Oil & Gas Association @TXOGA]

Check out the latest Energy Economics Perspective for Q2 2025 by TXOGA Chief Economist @RDeanForeman1
which delves into the latest insights from weekly, monthly, and quarterly monitoring and analyses of economic and energy markets.

Read more: https://t.co/BWwOTqqQFP

[Texas Oil & Gas Association @TXOGA]

Data can cut through the noise and challenge prevailing narratives. So far in 2025, concerns over slowing global growth, lower oil and natural gas prices, and persistent geopolitical uncertainty have fueled expectations of industry belt-tightening—fewer jobs, reduced capital spending, and renewed recession fears.

Yet the evidence in Texas tells a different story.

Earlier this month, TXOGA highlighted upstream job gains in April 2025. The new data from @TXWorkforce show that oil and natural gas employment across Texas’ entire energy value chain—upstream, midstream, and downstream—rose by 1.6% year-over-year (y/y) in Q4 2024. Average wages increased even faster, up 7.6% y/y. Leading the job gains were pipeline construction and natural gas extraction—underscoring the ongoing need for infrastructure expansion and broader market access.

“It is encouraging to see the Q4 2024 TWC data finalized and showing a robust year-end finish for the oil and natural gas industry. A 1.6% increase in jobs and a 7.6% increase in wages are significant to the Texas economy as well as the families enjoying the benefits of these good jobs. We are hopeful the global economy gets back on track and America can continue to export much-needed oil and natural gas around the world, with Texas leading the way,” said TXOGA President @Todd_Staples.

Read more: https://t.co/WTF0DUgird

#txlege #txenergy

[Texas Oil & Gas Association @TXOGA]

What's shaping the future of Texas energy? The latest TXOGA Talks dives into trade policies, global demand, AI & more with TXOGA President Todd Staples & Chief Economist Dr. Dean Foreman. Tune in now: https://t.co/HoYJLMI6FI

[The Texas Dispatch @Texas_Dispatch]

Texas Oil & Gas Association's @Todd_Staples and @RDeanForeman1 shared their opinion: the Federal Energy Regulatory Commission and the North American Electric Reliability Corporation "miss the big picture on winter resilience in Texas."

@TXOGA
https://t.co/IU6YBR5clJ

[Dean Foreman @RDeanForeman1]

@TXOGA @Todd_Staples True grid resilience isn’t achieved through top-down mandates—it’s built through leadership, adaptability, and accountability.

[Texas Oil & Gas Association @TXOGA]

In a new op-ed, TXOGA President @Todd_Staples and Chief Economist @RDeanForeman1 refute the Federal Energy Regulatory Commission (FERC) and the North American Electric Reliability Corporation’s (NERC) recent April 17 joint staff report and highlight the successes of reforms that have helped to strengthen Texas' electric grid.

"Regulators should recognize that innovation, decentralization, and market-based adaptation—not top-down mandates—are proving to be the most effective drivers of resilience."

Read more: https://t.co/pS0rtAuhH3

#txenergy #txlege

[Texas Oil & Gas Association @TXOGA]

Can you imagine feeding eight billion people without tractors, fertilizers, irrigation pumps, or transportation networks?

You’d be hard-pressed to do so without oil and natural gas. Yet despite increased policy momentum toward alternative fuels and renewable technologies in recent years, global agriculture continues to rely on energy-dense, affordable, and scalable petroleum-based resources.

In a new article from TXOGA Chief Economist @RDeanForeman1, readers are invited to explore this essential but underappreciated truth: the world eats because it has energy.

@Todd_Staples, TXOGA president and former Texas Agriculture Commissioner (2007-2014) notes:

“Our nation’s farmers and ranchers are able to feed America because our nation’s oil and natural gas producers fuel America. Dr. Foreman’s data driven analysis in The World Eats Because It Has Energy is a thoughtful reminder of how these two natural resource-based industries are essential to enabling America and our world to thrive.”

Read more: https://t.co/gcZcj22l9L

#txlege #txenergy

[Texas Oil & Gas Association @TXOGA]

Can you guess the top destination for U.S. petroleum exports in January 2025?

TXOGA Chief Economist @RDeanForeman1's latest Chartbook for the week of March 24 found that destination is...

*drumroll*

The Netherlands!

13.7% of U.S. petroleum exports for January were sent there, surpassing exports to Mexico at 13% and Canada at 10%.

To learn more about where U.S. petroleum exports are going and other timely energy economics information, visit https://t.co/Tw1t92Gymj

[Texas Oil & Gas Association @TXOGA]

Check out the latest Energy Economics Perspective for Q1 2025 by TXOGA Chief Economist @RDeanForeman1 which delves into the latest insights from weekly, monthly, and quarterly monitoring and analyses of economic and energy markets.

Read more: https://t.co/Ki93E1TDDE

[The Road to Autonomy® @RoadToAutonomy]

Energy Revolution: How Texas is Driving Global Oil, Gas, and AI Innovation

@RDeanForeman1, Chief Economist, @TXOGA joined @gbrulte on The Autonomy Economy podcast to discuss the current state the U.S. economy and the global oil and natural gas markets.

Consumer debt in the U.S. is rising and that could have potential impacts on GDP. While the economic picture in the U.S. is uncertain at the moment, global oil demand is projected to reach 104.1 million barrels per day this year. Demand is partly being driven by emerging markets.

Then there is Texas, which continues to export oil to the world, while having a $720 billion impact on GDP. Texas is not just an oil state anymore, even though 30% of the state's private sector is employed by the oil and natural gas industry, it is now becoming a high-tech state as it has begun to integrate AI, automation and autonomy into the sector's operations.

Episode Chapters
0:00 Health of the U.S. Consumer
5:57 Liquid Natural Gas Market
11:00 Data Centers
15:32 European Gas
18:51 U.S. Oil Imports
24:45 Heavy Crude
26:53 Growing Global Oil Demand & Geopolitics
29:50 Permian Basin
33:34 Impact of the Oil & Natural Gas Industry on Texas' Economy
35:29 Quarterly Outlook

[United States Association for Energy Economics @USA4EE]

Join @USA4EE President Dean Foreman (@RDeanForeman1) on March 5, 10-11 AM ET, for a deep dive into key economic and market trends shaping oil & gas. Explore record demand, U.S. supply leadership, and Texas' critical role. Register now: https://t.co/ZStz93kyzV

[Dean Foreman @RDeanForeman1]

@justin_mayet In 2024, the Permian Basin—the driver of U.S. production growth—saw a DUC inventory reduction of only 82 wells per EIA. Over 80% of DUC drawdowns were in the Eagle Ford and Bakken, which saw limited growth. This makes it difficult to attribute production gains to DUC utilization