INFOGRAPHIC: The Oil-Rich Bakken Region
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How well is the shale energy boom treating North Dakota? It’s unemployment rate is 3% (as of August 2012), they're producing over 700,000 barrels of oil daily, and as Al Martinez-Fonts, Senior Vice President of the National Chamber Foundation and Executive Vice President of the U.S. Forum for Policy Innovation, noted after a recent trip to Minot, the big challenge is drawing people to the state to fill jobs openings, and not just in the energy sector.
Along with the strong job market, energy is encouraging North Dakota to build up its infrastructure. The latest edition of the Federal Reserve's Beige Book, notes and observations about regional economic conditions, points out that "A large railroad increased its capacity for carrying crude oil out of North Dakota’s Williston Basin."
Much of this oil is from the Bakken Region lying beneath North Dakota, Montana, and parts of Canada. Development of this oil-rich region is creating jobs, improving America's energy security, and filling the coffers of local North Dakota governments.
As this infographic shows, there's still more opportunity to be had.
[ via Rob Wile at Business Insider]