More on the spectacular rise in Texas oil production — maybe the most remarkable energy success stories in US history
Note from Christi:
So abundant are the resources in Texas – We have 48% of all drilling rigs operating in the US, 26% of rigs anywhere on earth!
By: Mark J. Perry, AEIdeas
More on the spectacular rebound in oil production in “Saudi Texas,” which has doubled in only 30 months (see chart above) thanks to advanced drilling technologies accessing shale resources, and has to be one of the most remarkable energy success stories in US history, from David Blackmon (“Oil and Gas in Texas: Abundance, Abundance, Abundance“):
So abundant are the resources in the Lone Star State that, as of June 27th, there were 843 oil and natural gas drilling rigs operating in Texas, representing an amazing 48% of all the rigs operating in the United States. Even more amazing, that number represents 26% of all the drilling rigs operating anywhere on the face of the earth!
Read the full article here.