Report: Texas crude oil production breaks 1970s record

[Anti Federalist]

Report: Texas crude oil production breaks 1970s record

https://www.chron.com/business/energy/article/Report-Texas-crude-oil-production-breaks-1970s-13606658.php

By Sergio Chapa, Houston Chronicle Published 8:01 am CST, Monday, February 11, 2019

A new report shows that the 1.54 billion barrels of crude oil produced in 2018 broke a previous record set of 1.28 barrels set in 1973.

Crude oil production in Texas has beaten a previous record set in the 1970s, a new report from the Texas Independent Producers Royalty Owners Association stated.

Texas oil wells produced more than 1.54 billion barrels of crude in 2018, beating the previous record of 1.28 billion barrels set in 1973, TIPRO reported in its annual "State of Energy Report" early Monday morning.

Natural gas production also grew, reaching 8.8 trillion cubic feet in 2018, the report stated.

[Anti Federalist]

It was "decided science" in 1975 that US peak oil would occur around 2000, and that oil would be unaffordable.

[Anti Globalist]

Won't be like this when Texas eventually becomes a blue state.

[shakey1]

What oil shortage?

[tfurrh]

I've got a Chemistry Major, & live in East TX. Would love to go to work in a refinery/QA/QC for some decent dough. Apparently its a good economy, but I'm teaching school, and pay is getting less and less with a growing family. I've got a buddy with a good gig down in Houston, but I can't move out of East Texas. I really don't know the first thing about an in with these companies other than sending in a resume.

[Anti Federalist]

I've got a Chemistry Major, & live in East TX. Would love to go to work in a refinery/QA/QC for some decent dough. Apparently its a good economy, but I'm teaching school, and pay is getting less and less with a growing family. I've got a buddy with a good gig down in Houston, but I can't move out of East Texas. I really don't know the first thing about an in with these companies other than sending in a resume.

Look for employment recruiter or "headhunter" agencies...that's how I "bought" my job in the oil business years ago.

I know a couple of people that work for these guys:

https://huntfamilyofcompanies-openhire.silkroad.com/epostings/index.cfm?version=2&company_id=17176

[pcosmar]

It was "decided science" in 1975 that US peak oil would occur around 2000, and that oil would be unaffordable.

just after the gas wars drove the independent producers out of business,, and OPEC took over the show.

edit OPEC Followed ,,Embargo,shortage,, owned.

[Swordsmyth]

New Mexico received US$2.2 billion in revenues from oil production last year, data (https://www.nmoga.org/new_mexico_tax_research_institute_state_and_local_ revenue_impacts_of_the_oil_and_gas_industry) from the state’s Tax Research Institute showed. This was a 26-percent (https://www.abqjournal.com/1279968/oil-and-gas-generated-2-2b-for-nm-in-fiscal-18.html) increase on the year, or US$465 million. The total amount represented 32.3 percent of the New Mexico State General Fund recurring revenue.

More at: https://oilprice.com/Latest-Energy-News/World-News/New-Mexico-Boasts-22-Billion-In-Oil-Revenue-For-2018.html

[specsaregood]

Hey Saudi Arabia, good luck getting oil back up into the $80+/barrel you need to balance your budget.

[Swordsmyth]

Hey Saudi Arabia, good luck getting oil back up into the $80+/barrel you need to balance your budget.

:D

[acptulsa]

What oil shortage?

You mean the one Saudi Arabia manufactured to explain the runaway inflation that happened right after Bretton Woods took us off the last vestiges of the gold standard and the Fed was finally free to print money with carefree abandon for the first time?