U.S. Energy Renaissance

David E. Dismukes, associate director and professor at Louisiana State University’s Center for Energy Studies

New finds of natural gas from shale and other unconventional resources are having a considerable impact on the economy. “You’re seeing service companies, drilling companies, independent oil and gas companies moving into these areas where historically we haven’t had production in over a hundred years,” said Professor David Dismukes, associate director of the Center for Energy Studies at Louisiana State University (LSU). In a recent interview with Mike Chriszt, a vice president in the Atlanta Fed’s research department, Dismukes described the United States as entering an energy renaissance period, with a bright outlook for future reserve development, production, and capital expenditures.

He believes that the effect on hiring will be significant as the energy infrastructure expands and lower energy costs contribute to considerable economic development opportunities. Regionally, the impact of the energy boom will be felt most directly in the Gulf Coast area, where most of the Southeast’s energy infrastructure is located. But the longer-term implications of cheap, abundant, and diverse sources of energy will be significant for the rest of the country as well. Dismukes also notes that these resources put the country in a better position for both energy security and national security.

Dismukes has been on the LSU faculty for more than a decade and has led a number of the center’s research efforts on topics associated with almost all aspects of the energy industry.