A new study says North Dakota’s oil production could jump more than threefold by 2025 to more than 2 million barrels a day.
The study released Wednesday by Bentek Energy LLC of Colorado also says natural gas production could more than quintuple by 2025 in the Williston Basin. The basin includes the Dakotas and Montana.
Natural gas is a byproduct of oil production in North Dakota, which is the nation’s No. 2 oil producer behind Texas.
About a third of the natural gas produced in North Dakota is wasted because there aren’t enough pipelines to carry it to markets.
Note to Mitt Romney: Focus on the “pipeline” quote above.
And Mark Perry from AEI weighs in:
If oil production in North Dakota increases to 2 million barrels per day from current daily production of 639,000 barrels, that would be more than enough domestic oil to completely offset current daily U.S. imports of 1.86 million barrels from all of the Persian Gulf countries combined!