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Large Hit to Montana Economics

 
With all the talk of our economic ills here in Montana and the yelling to get off of the use of foreign oil I would like to point out where we have fallen short on this as a state. In the 2nd quarter of 2008 Montana oil production peaked at $919.3 million dollars. By the 1st quarter of 2009 this fell to $254.8 million. This is over a $600 million drop in less than a year. As of the 1st quarter of 2011 we hit $500 million in oil production. This is still over $400 million short from our peak production. We need in the worse sort of way to correct this problem and get our production back up to at least the level of the 2nd quarter of 2008. This will bring in greatly needed revenue for the state and help in the dependence of foreign oil. I know it doesn't sound like much from the national view point but it would be a big boost for Montana. Not to mention even an increase here of that size would have some effect on the national scale even though it would be small at that level. Every little bit helps.

30 Comments to Large Hit to Montana Economics:

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By the 1st quarter of 2009 this fell to $254.8 million. This is over a $600 million drop in less than a year. As of the 1st quarter of 2011 we hit $500 million in oil production. This is still over $400 million short from our peak production.
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This is still over $400 million short from our peak production.
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