North Dakota oil

Friday, May 24, 2013

Middle-class stagnation? Jobless recovery? Falling incomes? Not in America’s ‘economic miracle state’ of North Dakota

Mark J. Perry | May 16, 2013, 10:46 am

The US Chamber of Commerce recently released its fourth annual Enterprising States report that measures each state’s overall economic performance and performance across five policy areas important for job growth and economic prosperity. A state’s economic performance is based on seven variables: long- and … read more >

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North Dakota sets another new oil production record in March

Mark J. Perry | May 15, 2013, 4:05 pm

North Dakota set another new monthly oil production record at 782,934 barrels per day (bpd) in March according to oil production data released today by North Dakota’s Department of Mineral Resources (see chart above). For the eighth month in a row, the … read more >

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The economic ripple effect of the Bakken shale oil boom

Mark J. Perry | May 8, 2013, 11:30 am

The Minneapolis Fed recently performed an interesting analysis of the economic ripple effect of shale oil activity in North Dakota as it spreads out from “ground zero” in the Bakken area, here’s an excerpt: The Bakken oil boom has led … read more >

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Amazing energy fact of the day: Recoverable oil in the Bakken Formation is more than double the previous estimates

Mark J. Perry | April 30, 2013, 5:26 pm

A new government study released today estimates that the amount of recoverable oil in the Bakken Formation in North Dakota, South Dakota and Montana (see map above) – at 7.4 billion barrels – is more than twice the previous estimate of … read more >

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6 facts about North Dakota oil

Mark J. Perry | April 27, 2013, 10:54 am

The six North Dakota oil facts below were collected from this article in the Minot Daily News, which profiled a recent presentation by Tessa Sandstrom, the communications manager for the North Dakota Petroleum Council (a Bismarck-based trade association representing more than … read more >

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Markets in everything: North Dakota oil field photography

Mark J. Perry | April 16, 2013, 6:14 pm

On a recent CD post about America’s energy miracle, I linked to a news article about a photographer from Fargo whose business is booming because of North Dakota’s oil boom – she’s found a niche in “oil field photography.” That photographer is … read more >

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Chart of the day: The dollar value of North Dakota oil

Mark J. Perry | April 16, 2013, 4:03 pm

Oil production by state (and by country) is typically reported by the number of barrels produced per day (or per month or year), like the report today for North Dakota oil in February. I started wondering today why oil output … read more >

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North Dakota resumes record-setting oil output in February as the state quietly becomes an ‘economic hot spot’

Mark J. Perry | April 16, 2013, 12:13 pm

New monthly oil production data released today by North Dakota’s Department of Mineral Resources show that the Peace Garden State resumed its record-setting oil production in February, following several weather-related declines in oil output in both November and January. For the seventh month in a … read more >

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North Dakota oil boom has moved the state’s rank for per capita personal income from No. 38 to No. 6 in just 6 years

Mark J. Perry | March 27, 2013, 6:08 pm

The chart above shows how North Dakota’s oil boom starting about 2007 (red line in chart) moved the state up by 32 places (from No. 38 to No. 6) in the annual ranking of US states by per-capita personal income … read more >

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Some updates on America’s amazing energy revolution

Mark J. Perry | March 13, 2013, 11:16 pm

1. The Department of Energy reported today that the US produced an average of 7.16 million barrels of oil per day (bpd) last week. That’s the highest level of domestic oil output in any week since early July 1992, more than 20.5 … read more >