Texas Oil and Gas Boom Sets New Record

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A photo taken on June 6, 2013 shows a partial view of French oil giant Total's Texan plant in Port Arthur.
National Journal
Clare Foran
Oct. 3, 2013, 1:39 p.m.

Oil and gas pro­duc­tion in Texas reached a new high on the Texas Petro In­dex in Au­gust, a meas­ure of sev­er­al up­stream eco­nom­ic in­dic­at­ors, ac­cord­ing to Fuel Fix.

Total pro­duc­tion of crude oil in the state hit ap­prox­im­ately 71.1 mil­lion bar­rels in Au­gust — a jump of 16.7 per­cent for the month com­pared with the pre­vi­ous year.

Eco­nom­ist Karr Ing­ham, the in­dex’s de­veloper, said he pre­dicts the in­dex will con­tin­ue to rise. “What would be a sur­prise now is if the in­dex ac­tu­ally de­clined,” he said.

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