Wednesday, December 4, 2013

If Texas was its own country it would rank #10 in oil production. Drill, Baby, Drill...

Drill, Baby, Drill----the important economic concept of Comparative Advantage into your brain.

Interesting factoid from Carpe Diem.   In terms of oil extraction, if Texas were its own country it would rank number 10 in world oil production (on a daily basis in July).  Total US production was 7,487,000 (ranked 3rd) which means Texas' contribution was 35%.

Source: Mark Perry AEI

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