Texas Oil & Gas expands to record levels
Despite an expectation for the established Texan Oil & Gas industry to decline, amidst international turmoil and increased demand globally the Texans are reporting growth to record levels. Oil production is expected to excel the 1972 peak in the next two years.
Problems in the Ukraine, Russia and Iraq have pushed oil prices skyward boosting exploration and production in the American state. Oil & Gas contributes 25% of taxes to Texas alone.
The current figures for growth don’t even include the knock on economic effects such as the employment of contract workforce to support the expansion.
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