Note: This is 36% of our production, not of the amount we send to our refineries. We still import nearly an equal amount of crude as we produce ourselves.
Posted on 04/02/2014 6:55:02 AM PDT by thackney
Texas is producing about 36 percent of the country’s crude oil — three times more than any other state, according to the latest monthly figures from the U.S. Energy Information Administration.
Texas pumped nearly 2.9 million barrels of crude daily of the 7.9 million barrels produced nationwide in January, the latest month for which figures are available.
The Gulf of Mexico produced about 17 percent, the second-largest portion, followed by North Dakota with about 12 percent of the U.S. crude. California and Alaska rounded out the top five crude-producing areas, each home to about 7 percent of the nation’s oil.
Spurred by by wider use of oil-field technology, namely hydraulic fracturing and horizontal drilling, Texas crude production has soared 119 percent between 2010 and 2013.
Texas is not alone. The technology has led to a nationwide rush to drilling for oil and natural gas in shale and other dense rock. Colorado saw a 93 percent jump in oil production from 2010 to 2013, largely due to drilling in the Niobrara Shale. Oklahoma, home to the Woodford Shale, had 62 percent growth. And New Mexico, which shares the prolific Permian Basin with Texas, had 51 percent growth.
The study also pointed out the changing dynamics of the sources of U.S. crude. North Dakota, at one time the seventh largest producer of U.S. crude, has risen to the third. The Gulf of Mexico, Alaska and California — which in 2008 accounted for half the U.S. crude production — now make up less than a third for the country’s crude, having lost ground to shale and other unconventional plays.
Note: This is 36% of our production, not of the amount we send to our refineries. We still import nearly an equal amount of crude as we produce ourselves.
I might move to Texas. heard midland texas or around there might be some JOBS baby !
Oil Boom Fuels Fastest-Growing Metro Area, Midland, Texas — But at a Price
http://www.governing.com/blogs/by-the-numbers/gov-midland-oil-boom-jobs-population-growth-creates-challenges-for-government.html
Back in 2008, Midland, Texas, Mayor Wes Perry knew his town was about to take off.
The city of nearly 150,000 in west Texas sits atop the Permian Basin, one of North America’s largest oil reserves. For decades, much of the oil remained untouched, contained in rock formations buried deep beneath the surface. But then Perry, an oilman himself, says he starting hearing how experiments using hydraulic fracturing had proved promising.
“When people figured out how to [produce oil] through fracking, that was the game changer,” he said.
Since then, Midland has transformed itself into the nation’s fastest booming metro area, ranking at or near the top of the list of every major measure of recent economic and population growth. The latest census estimates reported Midland’s population swelled 4.6 percent in only a year, topping all other metro areas. Its economy similarly expanded payrolls by 6.2 percent over the past 12 months, the second largest gain nationwide.
While Midland is thriving, the influx of companies and new workers haven’t come without growing pains.
All around the city, consequences of the boom are apparent. Major roadways spanning the region’s flat plains are more congested. Asking prices for rentals have doubled. Longer lines greet customers at restaurants and other local businesses.
Bring your checkbook, housing and everything has risen with the employment rate.
On a sad note they have said that over 100 people a day move to the 5 county Austin area. 39,000 give or take a year not including births. Too much of a good thing is not a good thing.
I’ll bring my checkbook and buy some land . then in a few years that land will be worth much more than now . well if OBama and democrats don’t take over all property(socialism) or ban oil drilling that is.
You are likely few years too late...
Unless you want to buy away from the oil producing area.
“I’ll bring my checkbook and buy some land . then in a few years that land will be worth much more than now . well if OBama and democrats don’t take over all property(socialism) or ban oil drilling that is.”
Hate to walk on your dream. But, your chances of buying mineral rights to any land in the Permian Basin is zero or less.
http://www.trulia.com/property/3149907215-805-Devonian-Dr-Midland-TX-79703
805 Devonian Dr Midland, TX 79703
3 bed,
1 full bath,
1,384 sqft
Single-Family Home
For Sale / Resale
$130,000
seems to be a lot of homes for sale in midland TX.
http://www.trulia.com/TX/Midland/?sem=1.2.3.1.4.1.0.8&gclid=COmf6oiCwr0CFVQV7AodWB4AzA
you make this too easy to rebut and so destroy you lol.
http://www.trulia.com/property/3149907215-805-Devonian-Dr-Midland-TX-79703
805 Devonian Dr Midland, TX 79703
3 bed,
1 full bath,
1,384 sqft
Single-Family Home
For Sale / Resale
$130,000
seems to be a lot of homes for sale in midland TX.
http://www.trulia.com/TX/Midland/?sem=1.2.3.1.4.1.0.8&gclid=COmf6oiCwr0CFVQV7AodWB4AzA
Destroy me???
Lot Size: 7,449 sqft
You were talking about buying land and have the price rise up in a few years.
I didn’t claim little subdivision homes are not for sale. I thought you were talking about buying real acreage before the price rose. The big plots of land with mineral rights are already steep in the price increases.
Sorry I misunderstood.
Cheers!
Click chart for data source.
3 bed,
1 full bath,
1,384 sqft
Single-Family Home
For Sale / Resale
$130,000
_______________________
I don't want to dissuade a good conservative from moving here, but, you should “google earth” the neighborhood that home sits in.
Some things are not always as they appear in the advertisements. :)
Especially if they secede...
There are 37 more PAGES of houses for sale in Midland TX just on this site:
http://www.trulia.com/TX/Midland/?sem=1.2.3.1.4.1.0.8&gclid=COmf6oiCwr0CFVQV7AodWB4AzA
Before housing prices skyrocketed with the boom, we purchased a 3/2, attached garage, deck, sun room, living room, sitting on .94 acre, in a good neighborhood on the “right” side of town.
They wanted 60K we paid them 55K. We could sell it today for 175K or more with minor investment (new carpet, etc). But then, we'd have 175K and only be able to afford a home that is just as inflated as ours is.
130K is a lot to pay for a home whose value will not go up, but down to its real value when the bust comes. And the bust will come.
There are 547 more results of houses for sale in Midland TX just on this site:
http://www.trulia.com/TX/Midland/?sem=1.2.3.1.4.1.0.8&gclid=COmf6oiCwr0CFVQV7AodWB4AzA
Yes that would be nice . i hate Obama, I hate big government and i hate democrats and Washington DC
You keep ignoring people that say no one is claiming no homes are for sale.
Your claim of now buying land and being worth much more in a few years was in question. Prices have already doubled in recent years.
well I think prices will keep rising .
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