With the increase in oil production throughout the United States, Tennessee has been a pioneer in finding ways to do it more efficiently. In this article, learn about the steps taken by Tennessee Oil Investment Companies to extract oil from underground and use it for various industrial purposes.
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How much oil production is in Tennessee?
Tennessee is one of the twenty-seven states that produce oil. The state has an estimated reserve of 2.5 billion barrels, making it the eighteenth most productive oil producer in the United States. The majority of Tennessee's oil production comes from the southern half of the state, around Memphis and Chattanooga. There are also significant production facilities in northern and central Tennessee.
Tennessee's oil production has been on the rise in recent years, largely thanks to technological advances that have made drilling more efficient. In 2010, the state produced about 260,000 barrels per day; by 2016 that number had increased to over 1 million barrels per day. Given the state's large reserves and growing production, Tennessee is poised to continue playing a major role in American energy production for years to come.
The Impact of Tennessee's Oil Production
Since Tennessee's oil production began in earnest in the late 1800s, the state has been a leader in oil production and exploration. Today, Tennessee ranks as the sixth-largest producer of natural gas in the United States and is one of the top producers of crude oil and natural gas liquids.
The impact of Tennessee's oil production on the state's economy is clear. The state's GDP accounts for more than one-third of all economic output in the southeastern region, and it supports over 180,000 jobs. In addition to generating tax revenue and supporting jobs, oil production also impacts statewide infrastructure, including roads and pipelines.