Texas leads US oil production

Fuel Fix:
The growth in the energy sector is expected to continue to grow like gangbusters – led by Texas, according to Karr Ingham, a petroleum economist for the Texas Alliance of Energy Producers and creator of the Texas Petro Index, speaking at the Petroleum Club on the latest release of the index.

“We would be the 14th largest oil producing country on the planet, if Texas were a country,” Ingham said. “You have the Permian producing 925,000 barrels a day and the Eagle Ford escalating to 540,000 barrels a day – that is just extraordinary.”

The Texas Petro Index was established in 1995 and reflects growth in several elements that drive the energy industry, including crude oil and gas prices, the rig count, drilling permits, well completions, oil and gas production rates and employment in the industry.

Well count: New wells proliferate across the Eagle Ford Shale

The Permian Basin and the Eagle Ford have helped make Texas the producer of almost half of all crude oil and a quarter of natural gas produced in the United States, Ingham said.

“The Permian is still the big dog on the block, in Texas – and nationally,” Ingham said. “It means Texas will maintain its position as the big dog on the block nationally.”

The index has gone through a three-year period of growth, Ingham said, as shale drilling spurred production.
...
Taxes on the production of oil and gas now making up about 25 percent of the total in Texas.  The new production has certainly made it easier for the state to meet its spending targets, especially for education.  The current Index is near an all time high.

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t...
Read more

Is the F-35 obsolete?

Headline USA: Pentagon Fires Back after Musk Calls Its Most Expensive Project ‘Obsolete’ 'Yeah, as I'm sure you can appreciate, Mr. Musk is, currently, a private citizen, I'm not going to make any comments about what a private citizen may have to say about the F-35....'   ... ... Drones appear to be replacing jets for many operations.  The Russia-Ukraine war is an example of that.  Drones are often hard to detect and can be used for intelligence operations as well as for attacking enemy targets.  It would not surprise me to see drones engaging other drones in combat.  They also cost much less than manned fighters.  
Read more