To truly appreciate Oklahoma’s current position of domestic energy leadership and the worldwide implications, we need a quick look in the rear-view mirror. Twenty years ago, there were fears of peak oil – and for good reason. America’s daily oil production had fallen below 5 million barrels.
Today, we export more than 2 million barrels per day and the EIA projects the United States will be the world’s largest oil producer by 2023. These developments are creating a massive shift in the international energy landscape and our home state is a major player.
Oklahoma is America’s third largest producer of natural gas and fourth largest producer of oil. Known as an early adopter of breakthrough technologies, we’ve deployed directional drilling and hydraulic fracturing to successfully double our proven reserves.
Our abundance of natural gas is also giving non-producing countries around the world a more attractive energy option, helping them reduce emissions with a cleaner alternative to coal.
This new global dynamic brings with it new opportunities for Oklahomans with an entrepreneurial spirit. A vision for increased efficiency and environmental stewardship led OU alum Joe Kokojan of Murray Services to concept and successfully market the Tuffbase platform. Flogistix in Oklahoma City is developing high-tech vapor recovery systems to reduce carbon emissions. Norman-based WellCaddie is helping producers increase efficiency and reduce potential environmental impacts by way of a new remote monitoring system.
These are just a few examples of the young visionaries and impressive startups around our state hungry to innovate, create jobs and move the industry in a positive direction. With one in five jobs in Oklahoma connected with the oil and natural gas industry, our state is playing a key role in world-changing energy production and distribution.