oil industry

Mike Mozart/Flickr (CC BY 2.0)

From Texas Standard.

Ford announced recently that it will stop making most of its sedans, because the money is in trucks and SUVs. But now, gas prices are climbing, after four or five years without a significant increase. Like everyone who drives, and even those who travel by other means, Texans feel the impact of higher gas prices right in the wallet. But here, there’s a bit of a silver lining, because so much of the economy, and even the government’s coffers, rely on oil revenue. But with the Texas economy more diverse than ever, what does $3-a-gallon gas mean, on balance?

The U.S. is on track to become the world's biggest oil producer, pumping out more crude than at its peak nearly a half century ago. For decades, few expected such a comeback, and it's all the more remarkable because the price of a barrel of oil is nowhere near what it was during the last, recent boom.

"This is an incredible statement, but we're probably making more money at fifty dollars a barrel than a hundred," says Kirk Edwards, president of Latigo Petroleum in Midland, the de facto oil capitol of West Texas.

Courtesy of Lorne Matalon

From Texas Standard:

The Permian Basin in West Texas — already the nation's highest-producing oilfield — is seeing a surge in production, and drillers are extracting more crude oil than refiners here can handle. But now, oil companies in the basin have new outlets for that oil, and it's having an economic impact hundreds of miles away.

"This is not a bubble; this is real growth,” Port of Corpus Christi vessel traffic controller Mike Stineman says as he scans real-time navigation charts. Radio chatter between vessels, the Coast Guard and the Vessel Control Center provide a nonstop audio backdrop for Stineman's day-to-day work.

An appeals court in Washington, D.C., has blocked an attempt by the Environmental Protection Agency to delay Obama-era methane regulations, rejecting claims by the EPA that the oil and gas industry wasn't allowed to comment on the rules.

The agency could choose to rewrite the rules, but it overstepped in trying to delay them for years, the U.S. Court of Appeals for the D.C. Circuit decided.

Gabriel Cristóver Pérez

Ask Texas State Demographer Lloyd Potter what caught his attention in a recent release of census data for Texas cities, and he’ll tell you: Houston, in Harris County.

“In the past three or four years, prior to the [2015-16] set of estimates, Harris County was the most significant growing county in the country numerically,” he says.

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