How a West Texas Oil Boom Is Impacting the U.S. Oil Boom

The Permian Basin is the center of the United States’ oil and natural gas industry. 3.9 million barrels per day are averaged to be produced here, the world’s largest producer. Oil production is only predicted to increase as hydraulic fracturing increases in the area. By 2025, the United States will be on level with Saudi Arabia and Russia. 

The recent oil boom in the Permian Basin has bolstered jobs, increased the economy of the area, and changed the balance of oil power in the world’s economy; the United States is stronger because of it. 

The boom will also affect the future of the entire United States because it might affect trade balances internationally, stagnate the effort of bi-partisan efforts to increase United States’ energy independence. 

Local residents in Odessa and Midland are prospering: some are building multi-million dollar hotels, car dealerships, and recreational facilities. Local leaders say this oil boom is different than previous ones because it will be long-lasting.