Northwest Iowa — Many northwest Iowans have already fired up their furnaces during the recent nippy fall days, and experts say there’s an ample supply of natural gas to keep us warm through the winter.
Dean Foreman, chief economist for the American Petroleum Institute, says natural gas and oil set record production levels in recent months, even though challenges in the industry are rising.
It’s translating to a wealth of natural gas supplies and a dropping demand.
Foreman says there are still challenges ahead, including lower growth expectations, rising inflation, interest rates, trade barriers and financial market uncertainties. Still, he says domestic production of both oil and natural gas is on the rise.
A federal report finds 67-percent of Iowans use natural gas to heat their homes, 15-percent use electricity, 14-percent use propane, and the rest use wood or fuel oil.
