Breitling Oil and Gas Morning Podcast #205 12-7-12

Texas now has 43 new state representatives and five new state senators, as well as two newly elected Railroad Commissioners, who collectively will have a large impact on the ability to explore for and produce oil and natural gas.

Over the last decade, technological advancements in hydraulic fracturing and horizontal drilling have opened access to natural resources unlike ever before, which in turn, has led to a surge in domestic development of oil and natural gas, especially in Texas. The state is fortunate to contain several major shale formations, in all areas of the state. In fact, more than 95 percent of Texas counties produce oil and natural gas, making Texas the largest producing state. Accordingly, the increasing production has offered renewed hope of long-term economic growth, helping to support hundreds of thousands of jobs and providing much-needed tax revenue to local, state and federal government coffers when it is needed most.

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