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Pic-of-the-Week: The Energy States are Flying High – Almost Like 1982? (11/24/2014)

The Energy States are Flying High – Almost Like 1982? The ongoing resurgence in the oil and gas industry is once again driving overall activity in the key energy-producing states. Our pic-of-the-week details the share of total state earnings derived from the oil and gas industry. Oklahoma currently leads the way with 12.7% of total state earnings derived from the sector. Remarkably, the massive state of Texas is second with 8.9% of state earnings from energy. To put this activity into perspective, the shares for Oklahoma and Texas in 1982 at the peak of the Oil Boom were 12.1% and 7.2%, respectively.

Wyoming’s oil and gas share is third at 8.5%, but remains well below its 13.5% share from 1982. North Dakota is fourth at 6.8% – but maybe not as far above the 4.5% share it posted back in 1982 as you might have suspected.


Alaska’s 6.4% share is almost identical to its 1982 share of 6.5%. Similarly, Colorado’s 3.8% share is only slightly below its 1982 share of 4.1%.

States with small shares but moving up the list include Arkansas and Pennsylvania, while California and Utah continue to move down the list.

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Mark C. Snead is President and Economist at RegionTrack.

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