This is the headline: BP To Invest $4 Billion In The Gulf of Mexico This Year
The Gulf is a huge geographic area.
The scuttlebutt: the oil industry is investing $4 billion in the Bakken every month!
200 rigs in the Bakken; 200+ wells being drilled each month; each well, $10 million -- just in drilling: 200 x $10 million --> $2 billion. The support services, the housing, everything else, another $1 billion to $2 billion/month. ONEOK natural gas gathering is just part of that. Pipeline activity. Crude-by-rail activity. Incredible.
So, when you see a $4 billion investment headline in the Gulf, think of that amount of money going into a few counties in western North Dakota.
