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Message
re: Texas economy is cratering
Posted on 3/30/15 at 11:07 pm to texashorn
Posted on 3/30/15 at 11:07 pm to texashorn
quote:
If Texas is just lucky by sitting on vast oil reserves, why isn't California reaping benefits from its oil reserves at a similar pace? I think you know the answer.
California crude oil production averaged between 15 and 18 million barrels a month in 2014. Texas averaged from 87 million to more than 100 million barrels over the same period of time. CA has shale, but it's much more difficult to produce, and there's the problem of where to find the water for fracking.
1
Posted on 3/30/15 at 11:39 pm to Jim Rockford
California could produce more oil and hence, more taxes and more jobs. But they don't want to. That's their decision.
Texas has embraced oil drilling using several techniques, and have reaped the benefits for years.
Texas has embraced oil drilling using several techniques, and have reaped the benefits for years.
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