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The exponential rise in ‘Saudi Texas’ oil output continues – the state’s oil production doubled in only 2.5 years
Oil output has increased so significantly in Texas in recent years that if it was considered as a separate oil-producing country, Texas would have been the 12th largest oil-producing nation in the world for crude oil output in February (most recent month available for international oil production data) – just slightly behind Venezuela (2.475 million bpd), and Kuwait (2.80 million bpd).
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The exponential increase in Texas oil production is bringing jobs and economic prosperity to the state. For example, over the last 12 months through May, payrolls in the state of Texas increased by 325,000 jobs, which was a 3.0% annual increase in the state’s employment level, or almost twice the national increase in payroll employment of only 1.58% over that period.
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The exponential increase in Texas oil production over the last several years is nothing short of phenomenal, and is a direct result of “petropreneurs” who developed game-changing drilling technologies in America that have now revolutionized the nation’s production of shale oil.
You're welcome.
Seriously - this is good news.
Data tables are here, yearly outputs are on the far right - Crude Oil Production
Location: In a Galaxy far, far away called Germany
4,300 posts, read 4,408,773 times
Reputation: 2394
Texas economy is booming in nearly all sectors of which oil is just one. The IT sector and medical are both experiencing a large boom. We are a business friendly state and that makes a big difference.
And yet we still get raped at the pump daily..and no,its "you're welcome" for us spending our money on the oil
Are you kidding, I'm proud of our low gas prices...
And if you are seriously having to make a trip to the gas station daily i suggest moving closer to work or get a car with better gas mileage.
And yet we still get raped at the pump daily..and no,its "you're welcome" for us spending our money on the oil
Not only that but it's using precious water. I can't water my lawn more than once a week yet we're practically giving away millions of gallons to these companies for fracking.
Location: Democratic Peoples Republic of Redneckistan
11,078 posts, read 15,080,865 times
Reputation: 3937
Quote:
Originally Posted by iNviNciBL3
Are you kidding, I'm proud of our low gas prices...
And if you are seriously having to make a trip to the gas station daily i suggest moving closer to work or get a car with better gas mileage.
You are PROUD of our low gas prices?? Are you 16 years old and just started driving or are you just goofy? And when is the last time YOU saw a welder/welding bed mounted on the back of a Prius?
You are PROUD of our low gas prices?? Are you 16 years old and just started driving or are you just goofy?
Yes i'm proud, and no i'm not a goofy 16 year old. i just own a car that runs on gasoline.
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