Labor shortages, supply chain issues and hesitant financial backers have limited how much Texas oil and gas companies are ramping up production. Texas Oil UkraineUnderAttack Russia RussiaUkraineWar Oilprices
MIDLAND — After Russia invaded Ukraine last month and the U.S. and major energy companies boycotted Russian oil and gas, some politicians quickly called for cranking up American energy production to fill the void.
But in Texas’ Permian Basin — the nation’s most productive oil region and the place that would have to lead any jump in U.S. production — people in the industry, energy analysts and local leaders say there’s no quick or easy way to make that happen. “And I talked to a guy yesterday — a bigger company than us — trying to ramp up his operation to six rigs, and he goes, ‘I don’t know if I can get all the things I need to do that,’” Oestmann said.
“We quit drilling for a year, a lot of people slowed down,” Oestmann said. “All those people that were working in the field, a lot of them just said, enough’s enough. I’m out.”The 57-year-old has worked many jobs over the years — driving trucks, laying asphalt and now fixing vehicles at a Midland auto shop. Like many people living in the Permian Basin, he’s been lured into oil field jobs during previous booms.
“The world may well be facing its biggest oil supply shock in decades, with huge implications for our economies and societies,” said IEA Executive Director Fatih Birol, citing the uncertain future of Russian supplies on the global market as the war continues and sanctions against the nation mount. “We’re of mixed minds” about the Russia-Ukraine conflict, Burns added. “We know it’s strengthening our bottom line, but it’s bad for the world.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
In Texas, calls to boost U.S. oil production after Russian invasion run into hard realitiesLabor shortages, supply chain issues, hesitant financial backers and a frosty relationship with the Biden administration have limited how much Texas oil and gas companies are ramping up production.
Read more »
In Texas, calls to boost U.S. oil production after Russian invasion run into hard realitiesLabor shortages, supply chain issues, hesitant financial backers and a frosty relationship with the Biden administration have limited how much Texas oil and gas companies are ramping up production.
Read more »
Energy production: Why Texas can’t immediately fill the Russian oil and gas gapAUSTIN — Stephen M. Robertson can glance at traffic in Midland and tell you if oil is booming or busting. Concerns over domestic energy are running high as...
Read more »
Four North Texas communities win Keep Texas Beautiful honorsGrapevine, Allen, Irving and Rowlett were recognized by the statewide organization, which partners with the Texas Department of Transportation.
Read more »
Texas Search and Rescue resumes looking for missing Texas State University student Jason LandryAt the request of the Caldwell County Sheriff's Office, TEXSAR resumed looking for Jason Landry, who authorities say vanished on his way home to Missouri City.
Read more »