Though it is not always the cause, the States with the most
Crude Oil reserves generally have strong economies.
6 of the 10 states with the most reserves have among the
lowest unemployment rates in the Country; 7 had the smallest
increases in the unemployment rate from Y's 2004 to 2010; and 8
of the states had the largest increases in median household
income from Y 2005 to 2010.
As much as the Oil and Gas industry may be disliked is also an
indispensable part of many states and an asset to their local
economies.
LTN has identified the 10 states with the most Crude Oil
reserves, or the estimated amount of Crude Oil in the state, and
examined the jobs attached to the industry in each state.
In order to ID the states with the most Crude Oil reserves
data from the US Energy Information Administration was
researched. Census Bureau, the Bureau of Labor Statistics and the
American Petroleum Institute provided additional data.
Below are the 10 US States with lots of petroleum reserves, as
follows;
1. Texas
Proved reserves of Crude Oil: 5,006-M bbls
Oil refineries: 23
Unemployment rate, Jan. 2012: 7.3%
Share of jobs supported by Oil and Gas: 14.3%
2. Alaska
Proved reserves of crude oil: 3,566-M bbls
Oil refineries: 6
Unemployment rate, January 2012: 7.2%
Share of jobs supported by Oil and Gas: 10.3%
3. California
Proved reserves of Crude Oil: 2,835-M bbls
Oil refineries: 19
Unemployment rate, January 2012: 10.9%
Share of jobs supported by Oil and Gas: 4.6%
4. North Dakota
Proved reserves of Crude Oil: 1,046-M bbls
Oil refineries: 1
Unemployment rate, January 2012: 3.2%
Share of jobs supported by Oil and Gas: 7.5%
5. New Mexico
Proved reserves of crude oil: 700-M bbls
Oil refineries: 3
Unemployment rate, January 2012: 7.0%
Share of jobs supported by Oil and Gas: 7.5%
6. Oklahoma
Proved reserves of Crude Oil: 622-M bbls
Oil refineries: 6
Unemployment rate, January 2012: 6.1%
Share of jobs supported by Oil and Gas: 14.1%
7. Wyoming
Proved reserves of Crude Oil: 583-M bbls
Oil refineries: 6
Unemployment rate, January 2012: 5.5%
Share of jobs supported by Oil and Gas: 15.8%
8. Utah
Proved reserves of Crude Oil: 398-M bbls
Oil refineries: 5
Unemployment rate, January 2012: 5.7%
Share of jobs supported by Oil and Gas: 4.9%
9. Louisiana
Proved reserves of Crude Oil: 370- bbls
Oil refineries: 17
Unemployment rate, January 2012: 6.9%
Share of jobs supported by Oil and Gas: 15.1%
10. Montana
Proved reserves of Crude Oil: 343-M bbls
Oil refineries: 4
Unemployment rate, January 2012: 6.5%
Share of jobs supported by Oil and Gas: 6.4%
www.
livetradingnews
.com
Paul A. Ebeling, Jnr. writes and publishes The Red
Roadmaster's Technical Report on the US Major Market Indices, a
weekly, highly-regarded financial market letter, read by opinion
makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and
stock markets since 1984, following a successful business career
that included investment banking, and market and business
analysis. He is a specialist in equities/commodities, and an
accomplished chart reader who advises technicians with regard to
Major Indices Resistance/Support Levels.
Read the Terms of Service