Wednesday, June 3, 2015

Globally, North Dakota Ranks 20th In Oil Production

Jane Nielson sent me this link: North Dakota Bakken is a global "player" in oil.
Many individual U.S. states, not just the nation as a whole, are now ranked among the top energy producers in the entire world.
Overall, the United States is the third largest crude oil producing nation in the world, next to Russia and Saudi Arabia. Although North Dakota’s production trails far behind Texas, the king of domestic oil production, the Rough Rider State’s production rate of 1.1 million barrels per day secures [North Dakota's] spot as the 20th largest producer in the world due to the exploitation of the region’s tight oil formations.
Although other countries have significant oil and gas reserves locked in tight shale plays as well, the U.S. is the only nation that has capitalized on the resource.
Actually, I was joking. Jane Nielson did not send me that link, but I'm sure she's aware of the story; she has followed the Bakken since at least 2012.  As Jane said so famously years ago:
Don’t believe it. There’s some oil to be gotten out of Bakken, and it’s going to be exploited. But the “bonanza” is nothing but hype.

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