A New Texas Oil Boom Is Coming, Finally
26 Apr 2022
News
In the two months since Russia invaded Ukraine and oil prices shot up to more than $100 a barrel, the perplexing question for the Texas energy industry has been: Why isn’t anyone drilling? The answer initially was that the oil business has become beholden to a new group of investors who have no interest in strapping in for a roller-coaster ride. They ponied up their money for a nice calm turn on the kiddie train. This dynamic still holds, but evidence is emerging that the recent fossil fuel boom may stick around for a while. That could melt the frosty resistance to deploying more rigs—if only the exploration companies can find enough workers and parts to make that happen.
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