Texas' revenue to rise in 2018 with higher oil prices

[thackney]

Texas' revenue to rise in 2018 with higher oil prices
http://www.chron.com/business/energy/article/Texas-natural-resources-revenue-to-rise-in-2018-12524633.php
January 25, 2018

The revenue Texas gets from severance taxes, land rents and royalty fees on oil and gas production could come in 27 percent higher than previously expected in fiscal 2018 if crude prices stay elevated above $60 a barrel, Fitch Ratings said Thursday.

The credit ratings agency believes Texas could collect about $3.3 billion in natural resource revenue this year, up from its previous estimate of about $2.6 billion.

Fitch said rising oil prices and a surge in U.S. oil production have made Texas and other oil-producing states more economically and financially stable....

[IsailedawayfromFR]

Meanwhile, in the state of New York which prohibits fraccing to access the prolific Marcellus, the largest gas field ever in this country, is tightening its belt by socking it to the taxpayers even more instead of reaping the rewards of mineral taxes.

Cuomo unveils NY state budget plan, calls for big tax changes
http://www.syracuse.com/politics/index.ssf/2018/01/cuomo_unveils_ny_state_budget_plan_calls_for_big_tax_changes.html

[thackney]

Even with oil record in sight, Texas energy workforce still at seven-year low
https://www.chron.com/business/energy/article/Even-with-oil-record-in-sight-Texas-energy-12533523.php
January 29, 2018

...Since crude prices collapsed more than three years ago, U.S. shale drillers have cut costs, gotten discounts on oil field services and drilled in more prolific sweet spots in an effort to pump more crude at lower costs.

Drillers in Texas are on the cusp of beating the state's 45-year-old oil-production record, even though the workforce supporting the oil industry in Texas is about the size it was in 2011.

In fact, several measures of economic activity in the Texas oil industry – the number of working rigs, drilling permits, bringing wells into production – have come in pretty low recently, Amarillo economist Karr Ingham said....

[IsailedawayfromFR]

Even with oil record in sight, Texas energy workforce still at seven-year low
https://www.chron.com/business/energy/article/Even-with-oil-record-in-sight-Texas-energy-12533523.php
January 29, 2018

...Since crude prices collapsed more than three years ago, U.S. shale drillers have cut costs, gotten discounts on oil field services and drilled in more prolific sweet spots in an effort to pump more crude at lower costs.

Drillers in Texas are on the cusp of beating the state's 45-year-old oil-production record, even though the workforce supporting the oil industry in Texas is about the size it was in 2011.

In fact, several measures of economic activity in the Texas oil industry – the number of working rigs, drilling permits, bringing wells into production – have come in pretty low recently, Amarillo economist Karr Ingham said....

Technology is one reason human needs are lessened.

My nephew works in Nabor's manufacturing yard where the new generation of drilling rigs are being built - and requires only two hands to run the operations normally.