|
Texas Oil Production Continues to Grow at a Phenomenal Rate
For 25 straight months, the states oil production rate has increased by more than 25 percent year-over-year, notes economist Mark J. Perry, a professor at the University of Michigans School of Management.Output in Americas No. 1 oil-producing state Texas continues its phenomenal, meteoric rise, Perry wrote on his Carpe Diem blog. That production surge has to be one of the most significant increases in oil output ever recorded in the U.S. over such a short period of time. Texas produced 35 percent of the United States crude oil in September. The growth largely has been fueled by oil production in South Texas Eagle Ford Shale and West Texas Permian Basin, which have expanded rapidly to produce more than 1 million barrels of oil per day each, placing them among nine super-giant oil fields in the world, Perry says. Posted by: Guillibaldo McCoy1948 2013-12-04 |
| http://www.rantburg.com/poparticle.php?ID=381037 |