Paul TostoNorth Dakota’s transformation as an oil producing state is no secret. But when you look at the historical data, it’s breathtaking how rapidly things have changed.
“North Dakota passed Alaska in March to become the second-leading state in crude oil production, trailing only Texas, according to officials from Alaska and North Dakota … a dramatic rise for a state that was behind seven other states in 2006,” the Fargo Forum reports.
Texas remains the nation’s number one oil production state by far, pumping about 50 million barrels a month. Alaska for decades was comfortably number 2. But check out the trend lines below.
Here’s a closer look at the past three years
Advances in drilling technology and methods, together with the rising price of oil, have made large-scale drilling profitable in North Dakota.
Times are great now in North Dakota and the money’s rolling in. But there’s also a lesson in the trend lines to remember: It doesn’t last.