Economic Impact of the Permian Basin
The year 2020 has brought sudden unexpected challenges to Texas and to the oil and gas industry. Economic caution from the spread of a new coronavirus, coupled with a massive temporary glut of oil on world markets has put the Texas Miracle on hold, and much of the oil and gas industry with it. The story of Texas oil and gas has yet to be written for 2020. The chapters of the recent past have been about the Permian Basin, as will those of our eventual recovery. In the linked report, the Texas Taxpayers and Research Association (TTARA) Research Foundation reviews the contributions of the oil and gas industry to state and local finances in Texas over the past five years, and, more specifically, the ascendancy of the Permian Basin.