Subscribe free to our newsletters via your
. Space Travel News .




OIL AND GAS
Economy in shale oil state North Dakota outpacing nation
by Daniel J. Graeber
Bismarck, N.D. (UPI) Jun 12, 2013


Most non-OPEC oil supplies coming from the United States
Washington (UPI) Jun 12, 2013 - U.S. oil production should be the main driver of growth outside members of the Organization of Petroleum Exporting Countries, the Energy Department said.

The Energy Information Administration said in a weekly status report non-OPEC supply growth outpaced global consumption in 2013 and should do so again in 2014.

EIA, the statistical arm of the Energy Department, said Wednesday it expects production from outside OPEC to increase by 1.5 million barrels per day this year and another 1.2 million bpd in 2015 "with production from tight oil formations in the United States as the main driver."

In its monthly market report, published Tuesday, EIA said it estimated U.S. oil production in May averaged 8.4 million bpd, the highest monthly average in a quarter century.

U.S. oil production for 2014 should average 8.4 million bpd and reach 9.3 million next year, which would represent the highest annual average since 1971 if EIA forecasts are accurate.

The increase in U.S. oil production means the U.S. economy is relying less on foreign oil resources.

For the week ending June 6, EIA said crude oil imports averaged 7.1 million bpd, up 23,000 bpd from the previous week. Nevertheless, over the last four weeks, crude oil imports were down 8.1 percent year-on-year.

The economy in North Dakota, the state at the heart of the U.S. oil boom, is growing faster than all other states, Gov. Jack Dalrymple said.

For the fourth year in a row, the gross domestic product in the state increased 9.7 percent to top all other states.

North Dakota oil production is increasing at a rapid pace. Oil production in March, the last full month for which data are available, averaged 977,051 barrels per day, an all-time high. State officials expect production, mostly from the Bakken reserve area, should reach an average 1 million bpd at some point this summer.

The state's mineral resources accounted for 3.6 percent of the GDP growth.

Dalrymple said he'd move the state forward in a way that supports strong economic growth.

"It's very encouraging that our continued economic growth stems from nearly every business sector and that no single industry tells the whole story of the great progress we're making," he added in a statement Wednesday.

Average per capita income of $57,084 leads the nation. North Dakota was ranked 38th in the nation in that category in 2000.

A 2013 state report shows crime increased 7.9 percent from 2011 to 2012.

.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





OIL AND GAS
Iran claims 4mbpd oil output possible if sanctions lifted
Vienna (AFP) June 10, 2014
Iran's oil output could reach 4.0 million barrels per day in "less than three months" if Western sanctions are lifted over its nuclear energy programme, Oil Minister Bijan Zanganeh said Tuesday. "After lifting the sanctions, (in) less than three months we can produce four" million barrels of oil per day, Zanganeh told reporters upon his arrival in Vienna on the eve of an OPEC output meeting. ... read more


OIL AND GAS
Next ATV transferred to Final Assembly Building at Kourou

Roscosmos Scolded for 'Pestering Society' with Proton Crash Theories

SpaceX unveils capsule to ferry astronauts to space

Elon Musk to present manned DragonV2 spacecraft on May 29

OIL AND GAS
Rover Corrects its Spacecraft Clock

NASA could not deliver humans to Mars

Big Brother creators to document Mars One mission

NASA's human spaceflight program doomed to fail: study

OIL AND GAS
NASA Missions Let Scientists See Moon's Dancing Tide From Orbit

Earth's gravitational pull stretches moon surface

Water in moon rocks provides clues and questions about lunar history

NASA Invites Public to Select Favorite Moon Image for Lunar Orbiter Anniversary Collection

OIL AND GAS
Dwarf planet 'Biden' identified in an unlikely region of our solar system

Planet X myth debunked

OIL AND GAS
Astronomers Confounded By Massive Rocky World

Two planets orbit nearby ancient star

First light for SPHERE exoplanet imager

Astronomers find a new type of planet: The 'mega-Earth'

OIL AND GAS
Orion Ready To Feel The Heat

Airbus's SpacePlane demonstrator tested in South China Sea

Private Space Race Heats Up

Proton Rocket Failure Probe Finds No Evidence of Deliberate Misconduct

OIL AND GAS
Chinese lunar rover alive but weak

China's Jade Rabbit moon rover 'alive but struggling'

Chinese space team survives on worm diet for 105 days

Moon rover Yutu comes closer to public

OIL AND GAS
Massive Beast asteroid to have close call with Earth

To Catch a Comet by the Tail

NASA aims to land on, capture asteroids within next 15 years

Rosetta's target comet is becoming active




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.