Th Oil and Natural Gas Industry's Effect on Oklahoma Essay

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The Oil and Natural Gas Industry’s Effect on Oklahoma

Oklahoma's oil and natural gas industry is giving us unstoppable progress for energy solutions, but the other parts of the nation are still searching for theirs. While providing jobs for the thousands of people who live in Oklahoma, the oil and natural gas industry not only donates to America's petroleum production, but it also produces millions of dollars for our state’s economy, schools, and roads. Making new headways in our industry every day, artificial technology, scientific breakthroughs, adequate new exploration, and drilling methods took place. Without these upgrades, we would not be able to extract oil and natural gas from challenging fields more efficiently than we can
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First of all, Oklahoma rates third in the U.S.A. in natural gas production and is also rated sixth in the U.S.A. in the crude oil production directly or indirectly supported by the oil and natural gas industry with an estimated 300,000 workers! The percentage of the amount of America's natural gas liquid reserves that are located in Oklahoma is eight percent and approximately three-fifths of the households in Oklahoma use natural gas as their top energy source for heating. Having more than 125,000 oil and natural gas producing wells, Oklahoma produces more than 65 million barrels of oil the United States would then have to take in each year. In order to restore more than 11,000 abandoned well sites in Oklahoma, the oil and natural gas producers and the royalty owners who support the Oklahoma Energy Resources Board have voluntarily lent 63 million dollars. With 500,000 barrels per day combined with Oklahoma's five petroleum refineries, that is roughly three percent of the U.S.'s capacity! The largest source of revenue for the state is the gross production from Oklahoma's oil and natural gas industry making up fifty-five percent of the total. Furthermore, the annual operations from Oklahoma’s oil and natural gas industry generate 51.7 billion dollars in goods and services, almost one-third of Oklahoma's gross state product. Massive collections of natural gas reserves have yet to be produced from more than a dozen of the

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