CLARKSBURG, W.Va. – Of the 32 states that produce oil in the U.S., West Virginia was named the 13th highest producer, according to a Commodity.com analysis.
Gas prices are at the highest they have been since the fall of 2014. According to AAA, the average gas price this week in northern West Virginia is $3.34 per gallon compared to $2.14 during the same week in 2020. This increase makes the state of oil production in the United States almost impossible to ignore.
Gas prices were relatively low throughout the 2020 pandemic with a significantly lower amount of travel. However, now that life is beginning to resume its usual, travel and commute terms, the price of gas has spiked since the industry is affected by the global supply chain issues seen in many other industries.
Some might be encouraged by the fact that although gas prices are higher, a large percentage of this super expensive oil and gas is coming from the U.S. and even West Virginia. Since U.S. oil production bottomed out in 2008, the production has steadily increased, and the U.S. has since become the world’s leading producer of crude oil starting in 2018. In 2020, U.S. imports of petroleum were the lowest since 1991.
Although Texas makes up a huge percentage of this production, producing over four times the amount of the second-highest state, smaller states like West Virginia have drastically increased their impact on the United States’ overall production.
West Virginia increased its crude oil production by over 934% since 2010, producing over 19 million barrels in 2020. Of the 32 states that produce crude oil, West Virginia is the 13th highest producer.
While crude oil remains one of the largest energy sources worldwide, concerns about the environmental impacts cause some, including politicians, to make the push into different and more renewable energy sources. President Biden has made recent moves pushing toward funding wind and solar power to prevent further global warming. But, the U.S. still produced 7.85 million barrels of crude oil in 2020, only slightly lower than its highest ever annual production.
For the full study, ranking and graphics, click here.