Oil and Gas Today with Chris Faulkner Podcast #443

Texas produced an average of 2.5 million barrels per day (bpd) of crude oil in May 2013, which is the highest average daily output in the state in any month since April 1982, slightly more than 31 years ago. Compared to a year earlier, oil output in Texas increased by almost 31% in May, posting the 20th straight month starting in October 2011 that the state’s oil output has increased by more than 30% on a year-over-year basis.   The exponential increase in Texas’s oil output over roughly the last three years has completely reversed the previous 27-year decline in the state’s oil production that took place from 1982 to 2009.  All of this has been done in spite of President Obama.

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