It is common knowledge that the world runs on oil and gas. That is why oil & gas is a political chess piece and a lucrative investment opportunity for qualified investors. Tax reform and energy policy changes by OPEC in recent years have catapulted the U.S. to a position of being a magnet for oil and gas investors. Oil and gas investing in Texas, Oklahoma, and North Dakota, in particular, ranks high on the list of oil and gas investment opportunities. Unfortunately for most people, understanding of the oil & gas industry is plagued with myths and misinformation, making them feel reluctant to invest their money. To gauge how familiar Americans are with the oil & gas industry in the US and the rest of the world, Aries Residence Suites recently conducted a survey comprising six questionnaires to a sample of 455 Americans. Here is a snippet of some of the findings.
1. Which Country does the U.S. Import the Most Oil from?
Responses from 455 surveyees: 314 (68%) believed it’s Saudi Arabia, 79 (17%) Canada, 25 (5%) Mexico, while 37 (8%) believed it to be Mexico. The correct answer is Canada. Contrary to what most people believe, the U.S. imports only about 13 percent of its oil from Saudi Arabia, while the Great White North bears more than 33 percent.
2. Which U.S. state has the Most Oil?
According to 232 surveyees or 51%, Alaska has the most oil. 145 (32%) thought it’s Texas; 68 (15%) believed it is North Dakota; while 10 (2%) said it’s California. The correct answer is Texas. Texas boasts of about 12 billion barrels, ranking it in the 10th place in the world when it comes to oil reserves.
3. Which Country Produces the Most Oil?
A massive 254 (56%) believed it is Saudi Arabia; 97 (21%) thought it to be Iran; 79 (17%) said it is the U.S., while 25 (5%) said Canada. The correct answer is the U.S. The rapid increase in the U.S. oil & gas production, demonstrated for instance in many successful Texas energy projects, is due in large part to the booming shale industry.
In a Nutshell
Oil & gas exploration presents unlimited investment opportunities to qualified investors. However, to make a sound decision and realize the full potential of oil & gas investments, you first need to understand the industry. Consider partnering with a trusted energy investing consulting firm for strategic advice. Reputable energy investment consultants can guide prospective investors towards carefully vetted and promising direct energy investments such as Texas energy investment programs. Get in touch with a leading oil & gas company in Texas today for a head start.