Friday, May 18, 2012

Oil Prosperity Comes to McMullen County, Texas

McMullen County Texas is in the heart of the oil-rich Eagle Ford Shale formation in South Texas, where oil production is gushing and could reach 1 million barrels per day by 2016.  A recent study from the University of Texas-San Antonio projects the creation of approximately "shale-ready" 117,000 full-time jobs in the Eagle Ford region by 2021.  And that job growth is already starting to show up in McMullen County, where the the unemployment rate in April fell to a 14-year low of 2.4% (see chart above).  That's more than a 5 percent drop in the jobless rate in just 34 months from the recession-related peak of 7.5% in June of 2009.

Drill, drill, drill = jobs, jobs, jobs =a multi-decade low jobless rate of 2.4% in McMullen County. 

4 Comments:

At 5/19/2012 8:23 AM, OpenID moneyjihad said...

Have state legislatures started figuring out yet that energy, not manufacturing, is the sector with the greater growth potential?

 
At 5/19/2012 10:37 AM, Blogger Buddy R Pacifico said...

This comment has been removed by the author.

 
At 5/19/2012 10:40 AM, Blogger Buddy R Pacifico said...

"About 1,400 Eagle Ford wells are waiting to be completed or to be tied into pipelines, ITG research shows. There are also shortages of crews and water and too few pipelines."

Shortages of pipelines and crews can be overcome over time. That leaves the problem of limited water. Hydraulic Fracturing needs to evolve, so that much less water is used to get oil, natural gas liquids and nat gas.

But wait, human ingenuity may have come up with an effective alternative to water. Let's call it Jell Fracturing. Jelled Propane may replace water in fracturing!

 
At 5/19/2012 11:02 AM, Blogger Buddy R Pacifico said...

Or...

Maybe CO2 will replace water. Vaporized fracturing using Carbon Dioxide is an alternative to water or gell. CO2 Fracturing is non liquid fracturing.

 

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