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

ODESSA, TX - FEBRUARY 04: Men employed in the oil industry wait in line for food at a service station in Odessa, Texas on February 4, 2015. As crude oil prices have fallen nearly 60 percent globally, many American communities that became dependent on oil revenue are preparing for hard times. Texas, which benifited 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)
ODESSA, TX - FEBRUARY 04: Men employed in the oil industry wait in line for food at a service station in Odessa, Texas on February 4, 2015. As crude oil prices have fallen nearly 60 percent globally, many American communities that became dependent on oil revenue are preparing for hard times. Texas, which benifited 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 #:
462769784
Coleção:
Getty Images News
Data da criação:
04 de fevereiro de 2015
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Fonte:
Getty Images North America
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83627759
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3000 x 2000 px (25,40 x 16,93 cm) - 300 dpi - 1 MB