More than half of the world’s petroleum derived from Permian times has come from the Permian Basin. Although some older strata are also productive, the majority of the oil and gas obtained from the Permian Basin has been recovered from Permian rocks. Though oil and gas were already being extracted from the Permian Basin by the mid-1920s, most of the petroleum production activity has taken place since the 1950s. As a result, for a large part of the 20th century the Permian Basin played a significant role in the economic development of the state of Texas, including such towns as Midland, Odessa, and Marathon. Petroleum geologists often use the Permian reef system as a model for the exploration of other petroleum source and reservoir rocks.
The contribution to the US economy is vast:
The Permian Basin is projected to contribute $350 billion and create 1.2 million jobs for the U.S. economy by 2050, making it a significant driver of economic activity in the country. It supports various infrastructure developments and plays a crucial role in energy security. Yahoo dallasfed.org
Outcompeting Saudi:
Permian shale output closes gap with Saudi Arabia as rig count doubles, confirming US’ powerhouse status
Exxon’s 1.6 million acres in the Permian means it can approach the field as a “megaproject”
The majors’ Permian investments position the field to compete with Saudi Arabia as the world’s top oil-producing region
The World Bank’s Global Gas Flaring Tracker is the only global and independent indicator of gas flaring. The estimates allow us to monitor global flaring levels and assist in tracking progress towardZero Routine Flaring by 2030. You can view the lastest Global Gas Flaring Tracker (July, 2025) here and each of GFMR’s interactive visualizations below:
Retired, living in the Scottish Borders after living most of my life in cities in England. I can now indulge my interest in all aspects of living close to nature in a wild landscape. I live on what was once the Iapetus Ocean which took millions of years to travel from the Southern Hemisphere to here in the Northern Hemisphere. That set me thinking and questioning and seeking answers.
In 1998 I co-wrote Millennium Countdown (US)/ A Business Guide to the Year 2000 (UK) see https://www.abebooks.co.uk/products/isbn/9780749427917
borderslynn 
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