Ohio, Kansas May Be Next States to See Oil Booms


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1.  CNNMoney -- "Ohio hasn't been an oil powerhouse for nearly 100 years. But thanks to controversial new drilling technology, the state that once produced a third of the nation's crude and was the birthplace of John D. Rockefeller's mighty Standard Oil could once again be a significant source of domestic supply.

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If given the proper development, Ohio could be producing 200,000 barrels of crude a day by 2020.  Based on current production rates it would be enough to make Ohio the sixth-largest oil producing state in the country and put it ahead of such heavyweights as Louisiana and Wyoming. The industry is poised to create 200,000 jobs and half a billion dollars in tax revenue in Ohio over the next five years, and landowners are already getting $3,000 to $5,000 per acre for leasing their land."

2. Motley Fool -- "Some states have gotten all the attention in America's rush toward unconventional energy plays. North Dakota and Montana benefit enormously from the Bakken shale. The Appalachian-girding Marcellus shale has caused controversy in Pennsylvania and New York due to methods used to extract oil and gas from the ground. Energy-conscious investors took notice of Colorado when Anadarko Petroleum found major oil and gas reserves in the Wattenberg formation.

Kansas might be the next state up to bat."

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Posted In: Economics