Boom Goes Bust: Texas Oil Industry Hurt By Plunging Oil Prices

MIDLAND, TX - FEBRUARY 05: Construction of homes continues at a brisk pace in Midland despite dramatic falls in the price of oil on February 5, 2015 in Midland, Texas. As crude oil prices have fallen nearly 60 percent globally, American communities dependent on oil revenue prepare for hard times. Texas, which benefited from hydraulic fracturing and the shale drilling revolution, tripled its production of oil in the last five years. The Texan economy saw hundreds of billions of dollars come into the state before the global plunge in prices. Across the state drilling budgets are being slashed and companies are notifying workers of upcoming layoffs. According to federal labor statistics, around 300,000 people work in the Texas oil and gas industry, 50 percent more than four years ago. (Photo by Spencer Platt/Getty Images)
MIDLAND, TX - FEBRUARY 05: Construction of homes continues at a brisk pace in Midland despite dramatic falls in the price of oil on February 5, 2015 in Midland, Texas. As crude oil prices have fallen nearly 60 percent globally, American communities dependent on oil revenue prepare for hard times. Texas, which benefited from hydraulic fracturing and the shale drilling revolution, tripled its production of oil in the last five years. The Texan economy saw hundreds of billions of dollars come into the state before the global plunge in prices. Across the state drilling budgets are being slashed and companies are notifying workers of upcoming layoffs. According to federal labor statistics, around 300,000 people work in the Texas oil and gas industry, 50 percent more than four years ago. (Photo by Spencer Platt/Getty Images)
Boom Goes Bust: Texas Oil Industry Hurt By Plunging Oil Prices
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Crédito:
Spencer Platt / Equipa
Editorial #:
462813344
Coleção:
Getty Images News
Data da criação:
05 de fevereiro de 2015
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Fonte:
Getty Images North America
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83638412
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3000 x 2000 px (25,40 x 16,93 cm) - 300 dpi - 1 MB