Breitling Oil and Gas Texas and California Morning Podcast #372

Texas oil production continues to surge as the fracking boom frees up previously unreachable oil, and a recent report finds that if the state were an independent country, it would rank 10th overall in production, according to the American Enterprise Institute.

the current pace of annual increase in Texas was 30 percent or more, indicating production could surpass 4 million barrels per day by 2015.

In 2010 Texas, if it were its own separate country, would have been the 20th largest oil-producing country in the world. The rapid increase in oil output over the past few years is attributed to the extraction of unconventional shale oil in the U.S.

With these numbers, the Lone Star State could surpass Kuwait. The UAE to reach the No. 8 spot and even pass Iraq to overtake the number 6 oil producer on the planet.

 

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