The Economics of Oil and Gas Supply in the State of Texas
Keyword(s):
The Cost
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he Federal Reserve Bank of Dallas’s analysts claim that a 45% decrease in the oil price (From $100/Barrel to ~$55/Barrel) can reduce the payrolls of Texas by $125,000, even if everything else stays the same. As every industry is dependent on oil in this era, the cost of oil can dramatically impact the performance of any industry. But if we are able to reduce the cost of oil production, we can keep every industry under control.