Texas is continuing to lead the way within the energy industry. A new analysis by research firm IHS Markit concluded that Texas was the “most resilient” of the top energy producing states.
The Houston Chronicle pointed to several factors that led to IHS’s analysis:
“The analysis…found that Texas economy ‘is already firing again on all cylinders,’ while in the hardest hit states such as North Dakota, ‘it will take time for overall employment levels to recover from the energy-induced recession.’… Rapid expansion in the Permian Basin has been the main driver in Texas.”
With increased production and new oil and gas infrastructure, the future of Texas’ energy industry looks to continue to continue to fire “on all cylinders.”