1. A new record for monthly production: 13,768,395 barrels, a 34.6% increase from last August . In just a little more than two years (since June 2009), oil production has doubled in North Dakota (see chart above).
3. A new record number of wells producing: 5,702.
4. A new record for oil-related jobs: 16,200 (see chart), which is more than double the number of North Dakota oil jobs at the beginning of last year.
North Dakota's impressive economic success clearly illustrates the huge benefits of domestic energy production: more jobs and the lowest jobless rate in the country, record economic growth, huge gains in personal income, and even more tax revenues. There's no reason that the economic success and ongoing job creation in North Dakota can't be duplicated elsewhere, if more U.S. land and off-shore areas were opened up to domestic energy exploration and drilling.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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