Mark Perry shows what’s happened in U.S. oil production one simple graph.
It shows production in Texas, Alaska, California, and North Dakota, the top 4 oil-producing states, from 2002 through 2012: .
Look at the change in the last five years:
In the last five years, unconventional shale oil production in just the two states of Texas and North Dakota has added more than 1.4 million barrels per day of new domestic crude oil output, which has boosted total U.S. crude oil production to a 17-year high this month of more than 6.6 million barrels per day and reversed a nearly 30-year decline in domestic oil production.
A significant part of the increase in Texas is due to new technology being applied to Permian, a very mature field.
The end of a 30 year decline in production. Dramatic increase from a mature field.
For just this post, I will merely note without extended discussion that this chart disproves yet again the foolishness that is Peak Oil.