Posted on 03/01/2019 7:25:25 AM PST by Hojczyk
West Texas has seen its share of oil booms, but the people there say this one is unlike any they’ve seen.
Driven by shale drilling, a gusher of crude production has transformed the Permian Basin into America’s hottest oilfield, turning what was a remote stretch of towns spread among mesquite trees and scrubland into an industrial zone, seemingly overnight.
Oil prices have fallen about 25% since October to around $57 a barrel. But West Texas residents are hopeful the boom won’t go bust soon because companies have pumped billions into building out the oilfield, and drilling is not expected to peak for years.
The Permian produced an average of more than 3.9 million barrels per day as of January, according to the Energy Information Administration. Analytics firm IHS Markit estimates Permian production could top 5 million barrels a day in 2023, surpassing Iraq.
Here’s what a modern-day boomtown looks like.
In 2017, Mr. McGarity spent about $25,000 to retrofit a trailer into a custom, mobile barber shop. That October, he drove it about an hour west to Pecos, Texas, and parked in front of the town’s only grocery store, hoping to catch oil field workers between shifts. It was an instant success.
“It was crazy, it went berserk,” says Mr. McGarity, 48. “I’d show up around one o’clock and we’d cut until after midnight.”
These days Mr. McGarity sends the trailer to Pecos, which is closer to the oilfields, six days a week with five barbers, who cut hair all day long. A cut costs as much as $40, more than the $25 he charged before the boom. There is usually a long waiting list, but patrons can cut the line if they pay $60, or $75 with a shave, a popular option with oil workers.
(Excerpt) Read more at wsj.com ...
Worth reading the article..
Texas Ping.
After this article he will have competition in a week with cheaper prices. Maybe, I ought to bring a food truck.
Eventually electric cars are going to undo all this. Even if the US is slow to go electric China and Europe won’t be.
Thanks for posting. I tried to view it earlier but was stopped by paywall.
Electric cars are not feasible for large areas of this country.
These guys will go to the new rare earth metals mines that will open all over the world. Of course, the U.S won’t allow any new mines to be opened and will force the few still operating to close, so they’ll have to work overseas.
You need something to power those EVs and it still comes out of the ground.
TANSTAAFL lives.
You know what a “boom” is don’t you?
1. Electric cars don't necessarily get their charging from non fossils. They just plug into the wall and chard, mostly from power generated from fossil fuels.
2. About those solar and wind generated power plants, where do you think the electric power comes from on those long, very cold winter nights when there is no sun and no wind? Good old fossil fuels for the most part.
All that money makes such a succulent sound...Welcome to the Boomtown.
I never understand why when people find a “gold mine” they can’t keep their pie hole shut. A cash business no less.
You are utterly incorrect.
Motivated entrepreneurs and not government enforced socialism (a.k.a. communism with centralized planners) continue to create jobs and are making America great again!
JoMa
Never happen. Electric cars are too specialized a vehicle - good only for short distances, and take a LLOONNGG time to recharge. I can fill my car in 5 minutes or less and running the heater in winter or the air conditioning in the summer doesn't halve the range of the car.
New York could, but will never experience this.
IF it should even come close to happening, neither YOU nor your children will be around to see it.
Say what? I never knew anyone on an oil crew to shave. Who are they trying to look good for, other dirty filthy men or the dirty filthy skanky prostitutes who follow crews?
A boom is what precedes a crash.
The BBQ place is using Styrofoam containers!
That will destroy the planet. They are banned in other democrat run cities. : )
I should take up cutting hair. $180,000 grand!
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