It's being called the Golden Age of Oil and Gas in Texas. Oil and natural gas provide one-third of the whole economy of Texas. If the state were a nation, it would be the 8th largest oil-producing nation in the world and 3rd largest natural gas producer.
Some might say that's just the rich getting richer. Well, no - besides some rich people getting richer, there are lots of ways Texans in general are in on the golden age, that is, are richer.
Income in this industry: "an average wage ($125,000) that is three times the state average."
Growth of other industries: "Industries that use natural gas as a feedstock – fertilizers, chemicals, clothing, plastics, steel, and many others – have begun to invest tens of billions in new plant and equipment here in the U.S., creating domestic jobs that had been sent overseas over the last quarter century."
Job creation: " . .over the last year, Texas [added] more than 1,000 net new jobs every day, more than 390,000 for the most recent 12 month period . . . Texas has accounted for fully 35% of the nation’s job growth since the year 2000."
Government: the state has gone from billions in deficit (2007) to an anticipated surplus in 2015.
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