Friday, August 29, 2014

Texas' Oil Production Increased Nearly 30 Percent Over the Last Year

HOUSTON, Texas -- Texas' oil production is up 29 percent from this time last year, according to the Texas Railroad Commission. The state currently produces 2.16 million barrels of oil each day. 

New drilling technology has shifted the focus of the oil industry, and helped bolster a boom in Texas' Eagle Ford  Shale and Permian Basin. According to the Dallas Morning News, the Texas Railroad Commission issued 2,419 drilling permits in July--a steep uptick from this time last year which indicates that Texas' oil boom isn't slowing anytime soon. 

Just five years ago, Texas only produced about 1.1 million barrels of oil each day. 

Currently, more than half of the nation's growth in gas and oil over the last year took place in Texas and Oklahoma. Texas alone has almost reached the production level of Iraq, the second-largest oil producer in the Organization of Petroleum Exporting Countries.

Josiah Neeley, a Policy Analyst at the Texas Public Policy Foundation told Breitbart Texas that a bust isn't likely end the state's gas and oil boom anytime soon. The only immediate threat to the industry, according to Neeley, is government regulation.

Story here


We are gettin' it down here on the Oil and Gas. I made the decision to join the frenzy 10 years ago and ain't looked back. Things are good at the moment. There's tons of oil and gas jobs out there if you want to go to work. The money is too good to leave anytime soon for me.

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