During the past few years, domestic oil production in the U.S. has skyrocketed. However, it has not been limited to traditional oil producing states like Texas, which has long been responsible for a significant portion of the nation's oil production. Though Texas is still home to about one-third of all of the crude oil and gas reserves in the U.S. as of 2012 and produces about 3.4 million barrels per day, other states are playing an increasingly large role in the energy market.
This is due to the fact that the technology used for discovering and retrieving oil has improved to the point where entire new sources of crude can now be exploited. Recently, USA Today ran an article that listed the 10 most oil-rich states in the U.S. Some like Texas, have been on the list for years. Others, however, are newcomers.
One example is that of New Mexico. About a decade ago, it was generally assumed that there was little oil left in the state that could be uncovered. However, as it turned out the area around the Permian Basin had more to offer than previously thought. Between 2010 and 2012, crude oil production in the state increased by 50 percent, and it is now believed that New Mexico has just under 1 billion barrels of proven oil reserves.
This is good news for a state like New Mexico, which can expect to reap economic benefits from increased oil development. However, increased production will also place an additional strain on existing oil transportation infrastructure. For this reason, it will be important for state policymakers to support policies that will facilitate the development of CNC machine services, which are crucial partners in pipeline maintenance.