Permian Basin in West Texas still produces 2 million barrels/day even now with oil at $40/barrel

via Mark J. Perry

Permian OIl Field Texas

Chart of the Day IV (above). America’s most prolific oil field – the Permian Basin in west Texas – continues to produce around 2 million barrels of oil per day despite low oil prices of around $40 per barrel. In fact, the Permian Basin is probably now the world’s second highest-producing oil field, behind only Saudi Arabia’s Ghawar Field, which produces crude oil at an amazing daily rate of 5 million barrels.

Mark J. Perry, Ph.D.
Scholar at The American Enterprise Institute
Professor of Finance and Business Economics
School of Management, University of Michigan-Flint
2111 Riverfront Center, Flint, MI 48502-1950
Michigan Office Phone: 810-424-5413
Washington, D.C. Phone: 202-419-5207
Personal Website:
Carpe Diem Blog:


Offer something of value . . .

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s