Tag Archives: oil
New Organization Gearing Up To Take On Challenges Facing Midland
By Mitch Borden As the Permian Basin continues to produce millions of barrels of crude oil each day, Midland and other communities in the area are rapidly growing. There are challenges that come with this kind of economic success though. … Continue reading
Texas is making billions from oil and gas drilling, but counties say rural roads are being destroyed
Damage from heavy trucks has battered local roads in and around the state’s oil fields, and many counties want the state to help pay for repairs and maintenance. Will lawmakers take action?
Corpus Christi Port Ramps Up After Crude Oil Export Ban Lifted: New Pipelines Proposed Linking Permian Basin To Port
CORPUS CHRISTI, Texas -A surge in production in the Permian Basin of west Texas, already the nation’s highest producing oilfield, is extracting more crude oil than refiners in Texas can handle. But now, producers in the Permian have new outlets for that oil with economic … Continue reading
Moody’s Considers Credit Downgrades For Texas Governments Dependent On Energy-Related Tax Revenue
The credit rating agency Moody’s Investor Services reviewing its ratings for 10 local governments in Texas — including Midland and Odessa — and may issue downgrades within 90 days. The culprit is the precipitous decline in crude oil prices and … Continue reading
As Oil Labor Force Shrinks, West Texas Food Bank Expands
Oil has been trading below $30 a barrel this week and that’s bad news for the labor force in the Permian Basin. Some workers aren’t just out of a job, they’re barely staying afloat. But there’s one safety net that’s gotten … Continue reading
Oil Prices Drop After U.S. Lifts Sanctions Against Iran
The prospect of Iranian oil adding to the global flood of crude pushed prices further down on Monday, with Brent crude, the international benchmark for crude oil, touching its lowest level since 2003 – below $28 dollars per barrel. International … Continue reading
The Energy Markets: Lorne Matalon Reports From UT Austin Energy Journalism Conference
TUESDAY, JANUARY 12: This is a transcript of our discussion on the drop in oil prices and outlooks for the future, with reporter Lorne Matalon and host Tom Michael. MICHAEL: Monday was a rough day for oil and gas markets. Prices fell more than … Continue reading
Borderland Exodus: Towns On Path Of Proposed Mexican Pipelines Suffer Rash Of Violence
GUADALUPE, Chihuahua — People living in the Juárez Valley southeast of Ciudad Juárez and El Paso, Texas allege that land speculators preparing for the start of oil and gas production have spurred a land grab that’s forced what some claim … Continue reading
Mexican Venture Capital Seeks Permian Basin Opportunity Amid Oil Downturn
ODESSA, Texas — Mexican venture capital is hovering over distressed energy companies in the Permian Basin of Texas, the nation’s highest-producing oilfield. Those companies – including oil and gas drillers, and service companies – crafted budgets when the price of … Continue reading
Oil Price Drop Implies Possible Delay For Road Improvement
The oil and gas boom has put a lot of money back into the state’s highway fund through the collection of severance taxes–the money that the state earns on oil and gas extraction—but it’s never been enough. And already-overwhelmed roads … Continue reading