Close

The Corner

The one and only.

How’s Your State’s Economy?


Text  

This good?

Oil just keeps bubbling up from the Eagle Ford Shale in south Texas.

Production in the geological formation jumped 58 percent in May over the prior year, according to new data from the Texas Railroad Commission and first collected by Bloomberg News.

The fields that make up the majority of the Eagle Ford generated nearly 582,000 barrels of crude per day, according to preliminary Railroad Commission data. The same territory yielded some 369,000 barrels per day in May 2012.

The Eagle Ford has become a major economic generator for San Antonio and South Texas as top energy players use hydraulic fracturing technology to unlock previously unavailable oil and gas deposits.

The state produced a total of 2.45 million barrels a day in April, the highest monthly level since April 1985, according to the U.S. Energy Information Administration.

That’s nearly $2 billion a week in production, or $11,500 a year for every single household in Texas. That’s just oil. Gas adds a good deal more.

The only thing stopping New York State and others from producing similar results is politics. 


Text  


(Simply insert your e-mail and hit “Sign Up.”)

Subscribe to National Review