Technology in North Dakota Oil Fields
The technology in North Dakota oil fields, particularly in the Bakken shale, are a major consideration when investing in oil drilling.
Investing in oil drilling in the North Dakota oil fields has had a dramatic impact on both the economic climate and political landscape of this country. Many investors are excited about investing in oil drilling in the North Dakota oil fields because of the very positive results that have already been achieved. The Bakken shale is an area extending through South Dakota and Montana as well as into Southern Canada in addition to the North Dakota oil fields. The region has been known to hold an extensive oil reserve since the 1950s, but for the longest time, the oil was inaccessible because of limited extraction technology.
Technology Enables Drilling in the North Dakota Oil Fields
Thanks to investing in oil drilling and oil drilling technology, hydraulic fracturing and horizontal drilling methods are new technologies that have been developed to extract oil from the North Dakota oil fields. These technological developments have made investing in oil drilling in the North Dakota oil fields in the 21st Century even more exciting, creating a new oil boom.
Once predicted to hold only a few million barrels of oil – a mere drop in the bucket in U.S. demand alone – the reserve in the North Dakota oil fields is now estimated to hold enough oil to meet nearly a quarter of our energy needs, and with additional investing in oil drilling, there could be even more energy independence in the future for the United States.
Investing in oil drilling in the North Dakota oil fields does more than just provide investors with a potentially lucrative opportunity for wealth building; it has had a measurable and dramatic impact on the economy, creating millions of jobs in the oil industry as well as in ancillary industries such as manufacturing, shipping, construction, retail, and real estate.
The investment in North Dakota oil fields has transformed North Dakota from a small state whose entire population was smaller than some of our larger cities to a state with the lowest unemployment, a large population explosion, and jobs by the dozen that pay a livable wage. There has been robust growth in real estate and retail, as well as services industries such as banking, creating opportunity for professionals in a number of industries.
Investing in oil drilling has demonstrated its power in North Dakota oil fields; imagine the possibilities that exist with expanded investing in oil drilling in other regions and reserves around the country and the economic impact that could have on the U.S. Investing in oil drilling has already made a significant impact on the U.S. economy.
With a goal of achieving real American energy independence, additional investing in oil drilling in North Dakota oil fields and other shale regions will not only be necessary but vital to this country’s economic growth and stability.