Monday, September 17, 2018

Your Good News of the Day: The single state of North Dakota is now producing as much oil as Venezuela

Although that statistic might reflect more on poor Venezuela, a country that deserves better than its current mis-government.

But then again, they voted in the Socialists.  Hey, free stuff!

North Dakota continues its historic rise in crude oil production. The sparsely populated midwestern state churned out 1.27 million barrels a day in July, according to data reported by Bloomberg. This is approximately the same level of production seen in Venezuela during the same month.

The numbers provide a snapshot of how much the industry landscape has evolved in the two places.

Much like other regions in the United States, North Dakota has experienced a shale oil boom in recent years. The advent of hydraulic fracturing has allowed North Dakota — home of the Bakken shale play — to produce oil at rates four times greater than its previous peak set in the 1980s. The state is now second only to Texas in oil production and enjoys the lowest unemployment rate in the country.


2 comments:

  1. Barack wanted to stop fracking. President Trump says, "drill baby, drill!!"

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  2. One of the things that I find amusing is the fact that Marxism is the
    shortest path to economic ruin. I have a 100 trillion dollar Zimbabwean
    bank note that could not buy a pack of bubblegum. I read an article in
    a cigar magazine that stated that Fidel Castro managed to f*&k up the
    Cuban cigar industry. In an article on his visit to Nicagrua PJ O'Rourke
    was commenting on the value of their currency. He stated that one had
    to study economics at the Patrice Mumumba University in Moscow two or
    three times to make currency worth this little.

    I worked shutdowns in the Wilmington Champlain refinery (later named UPRC)
    long before the Venezuelans bought it. When the end comes, the refinery
    will be back in American hands!


    ReplyDelete