The next oil boom.

• Author: Davidson, Paul
• Position: ALASKA TRENDS - Statistical data

The State of North Dakota keeps oil production data from 1952 to present. This data shows North Dakota's total yearly oil production increasing dramatically in recent years. North Dakota's total oil production for 2011 is 153 million barrels, 273.92 percent higher than the preceding 40 year average of 41 million barrels per year. Use of the now economical hydraulic fracturing technique is credited with much of North Dakota's increase in oil production.

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Production data for 2008-2011 contains a majority of North Dakota's recent hike in oil production. The U.S. Bureau of Labor Statistics marked North Dakota's unemployment rate the lowest in the nation for the years 2009-2011. Having the highest oil production growth of any state, North Dakota now produces the second most oil of any state, below Texas and barely above Alaska.

The graph shows oil production in millions of barrels per year for the current top three oil producing states: Texas, North Dakota and Alaska. Texas oil production shows a decline starting at the beginning of the Texas data-set in 1981 until stabilization in 2006-2008, followed by growth through 2011. Alaska's oil production took off in the late 70s, hitting a peak of 736 million barrels in 1988 before declining. North Dakota shows a fairly consistent yearly production until rapid growth begins with a 40 percent increase from 2007 to 2008. Oil production in North Dakota continues to rise.

Sources: Institute for Energy Research, State of North Dakota, US Energy Information Administration

ALASKA TRENDS Indicator Units Period GENERAL Personal Income-Alaska US$ 4th Q11 Personal Income-United States US$ 4th Q11 Consumer Prices-Anchorage 1982-1984=100 2nd H11 Consumer Prices-United States 1982-1984=100 2nd H11 Bankruptcies Alaska Total Number Filed May Anchorage Total Number Filed May Fairbanks Total Number Filed May EMPLOYMENT Alaska Thousands May Anchorage & Mat-Su Thousands May Fairbanks Thousands May Southeast Thousands May Gulf Coast Thousands May Sectorial Distribution-Alaska Total Nonfarm Thousands May Goods Producing Thousands May Services Providing Thousands May Mining and Logging Thousands May Mining Thousands May Oil &Gas Thousands May Construction Thousands May Manufacturing Thousands May Seafood Processing Thousands May Trade/Transportation/Utilities Thousands May Wholesale Trade Thousands May Retail Trade Thousands May Food & Beverage Stores Thousands May General Merchandise Stores Thousands May...