Texas crude oil production has a remarkable history and variance.  In 1985, the production level of 2,500,000 barrels per day even created a television show.  This was the high watermark for the region.  As the production slowed, no one predicted at that time the bottom would end with 900,000 barrels per day in 2001, a 64% reduction.  Since this time, the oil output has increased almost vertically to a new production level of 3,200,000 barrels per day, or a 256% increase.  This represents 40 consecutive months of increases.  Texas now represents 37% of all US oil production.  With this continued strength, it would not surprise many industry experts that Texas will surpass Iraq, Iran, and Canada to become the world’s fifth biggest oil producer.  To understand the price reduction in oil, we have to consider the rise of Texas oil production.

Gary Kapanowski – Lean Six Sigma Master Black Belt – Excelsior

The following blog is the opinion of Gary Kapanowski and Garykapanowski.com.  It is the sole intent to broadcast this opinion from Gary Kapanowski and Garykapanowski.com exclusively and not to reflect on any other institutions or organizations associated with Gary Kapanowski or Garykapanowski.com.

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