An Oil Play In The Bakken – Mountainview Energy An Oil Play In The Bakken – Mountainview Energy
If one were to assess the game changing macroeconomic events taking place around the world and rank them by importance, there is little question that the shale oil revolution would be among the top of the list. It has resurrected US domestic oil production and is one of the brightest parts of the US economy. North Dakota, where majority of the shale oil production is currently located, boasts a sub 2% unemployment and higher per capita income due to this technological innovation.
Dr. Mark J. Perry, a professor of economics at the University of Michigan, has provided some of the best coverage of this macroeconomic event via his blog, Carpe Diem, which I highly recommend you subscribe to if you don’t already. Below are five charts, four from his blog, to put in perspective just how revolutionary the shale gas revolution is.
First, the location of the Bakken Formation, which goes through the US states of North Dakota, South Dakota and Montana and Canadian Provinces of Saskatchewan and Alberta.