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Pic-of-the-Week: U.S. Crude Gains Concentrated in Few States (05/27/2014)

The Ongoing Surge in U.S. Crude Production is Highly Concentrated in Only a Few States – U.S. crude production has surged by more than 50% since 2009, from about 1.8 billion barrels to 2.8 billion barrels annually.

The geography underlying the oil produced in the U.S. each year is now roughly 1 billion barrels from Texas; 700 million barrels combined from 

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Pic-of-the-Week: U.S. Crude Production Finally Surpasses Imports (05/19/2014)

U.S. Crude Independence Takes Important First Step – Surging domestic crude production finally surpassed the level of imports in early 2014. The roughly 1 billion barrel increase (50%+ gain) in annual production since late 2009 is mirrored by a 1 billion barrel decline in annual crude imports. The value of this production-for-imports swap is approximately $100 billion annually at current oil prices.

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Pic-of-the-Week: Why Oil & Gas Matters So Much in Oklahoma (05/12/2014)

OK Oil and Gas Earnings Share Near Oil-Boom High in Early 1980s – The economic role played by the oil and gas industry in Oklahoma has returned to near levels last seen in the Oil-Boom days more than three decades ago. Remarkably, earnings across the mining industry now total $15.8 billion, or 13.7% of all earnings statewide. And as the graphic shows, the tiny utilities sector is the only major industry sector within shouting distance of mining based on average earnings per worker.

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Pic-of-the-Week: Oklahoma Oil and Gas Hiring (4/14/2014)

Clear Downshift in Oklahoma Oil and Gas Hiring, But Growth Continues at a Moderate Pace

Oklahoma Oil and Gas Hiring
A clear downshift in hiring in the oil and gas sector since early 2012 is weighing on the state’s core job growth rate.  Oil and gas hiring prior to the recession was extremely rapid at an 8-12% annual pace and was the key factor behind strong state job gains in the period. The recession then wiped out several years of gains, but growth quickly returned to a surprisingly robust 10-15% annual rate in 2010.
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