[thackney]

I know some oil industry workers looking for jobs that would disagree.

Texas oil production has been falling for a few months down from the peak in March.

Texas Field Production of Crude Oil
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPTX2&f=M

[txrefugee]

The oil industry in Texas is well acquainted with the boom-and-bust nature of the business. If those working in the Eagle Ford and Permian didn’t save their cash during the boom, they were not very smart. But Texas oil will rise again. It always does.

[Cletus.D.Yokel]

:: Columnists at the New York Times and elsewhere said the “Texas miracle” was fading, or even dead ::

What the media doesn’t understand is that the O&G producers aren’t tied to the modern cultural idea of “instant gratification”.

A well comes in and BOTH the producer and landowner have on-going financial (AKA: capitalism) rewards. The media seems to think that if the industry isn’t bringing-in “new, huge” production fields, they are in financial/production decline.

There are wells in SouthCentral Michigan that were opened in 1958 (Albion-Scipio Field) that are still financially viable today, yet are on the decline regarding production.

The media seems to have this “Drake Gusher” mentality when the industry has a “Texas Brisket” mentality...low and slow cooked.

Thanks Thackney.

[Oatka]

The Saudis were betting that by keeping prices low they could protect their market share and kill America’s energy renaissance

Trying to play games with a nation of innovative people is risky.

[Redbob]

"Columnists at the New York Times and elsewhere said the “Texas miracle” was fading, or even dead . . . and some of them seemed happy about it."

By "some," did the author of this article mean "ALL?"

[Moonman62]

In an OPEC meeting that month, Saudi Arabia announced it would maintain high oil-production levels despite falling prices. The Saudis were betting that by keeping prices low they could protect their market share and kill America’s energy renaissance—a rebirth driven largely by Texas, which produces 37% of America’s oil and 28% of its marketed natural gas.

...

Personally, I think that was a actually a coordinated attack on Russia’s main revenue stream.

[greeneyes]

There are other areas that are no longer booming, and where the fracking and more expensive methods have been suspended and workers laid off.

However, it’s my understanding that these methods can be resumed, should oil prices go up enough to make it profitable.

[uglybiker]

Texas isn’t the Saudis only target. The Russkies are hurting worse.