http://fuelfix.com/blog/2015/09/08/texas-expected-to-pump-record-amount-of-oil-this-year-despite-industry-slowdown/#35260101=0 / / / / Texas expected to pump record amount of oil this year, despite industry slowdown / / / /
Posted on September 8, 2015 / / / / While drilling in Texas has started to slow under the weight of a global oil collapse, the state remains on track to produce more oil this year than it ever has before, according to a newly released analysis. / / / /
The state is pumping out 15 percent more oil than it did the same time last year, pushing Texas closer to breaking its 1972 record for crude output, according to the Texas Alliance of Energy Producers. / / / /
That spells bad news for oil prices which have been pulled down in the past year because producers are flooding the world with more crude than the world can use. / / / /
While official government employment data isn’t entirely reliable because it’s not seasonally adjusted, Ingham believes the state has lost 23,800 industry jobs since oil prices began falling last year.