US EditionPublished • loading... • Updated
Trump Has Promised Cheaper Oil. Texas’ Economy Could Pay a Price
Lowering oil prices to $50 a barrel could cause layoffs for 495,000 Texas oil workers and reduce tax revenues for state and local governments, experts say.
- President Donald Trump pledged to lower oil prices to $50 a barrel, and analysts warn this could decimate Texas's recent oil momentum and threaten the Lone Star State.
- In Texas it takes at least $62 per barrel to break even on new wells, yet by 2024 operators were drilling record amounts and selling oil for at least $70, fueling state coffers and school districts.
- Production stayed relatively flat at 5.8 million barrels per day between December 2024 and October 2025, while drilling rigs declined with Texas losing 20 rigs since Trump took office.
- Communities reliant on oil face immediate job and budget pressures as operators struggle to break even, risking production cuts that threaten the estimated 495,000 Texas oil industry employees.
- While horizontal drilling may blunt some losses, analysts caution that price at $40 a barrel would likely cause big cuts to capital budgets and production declines.
Insights by Ground AI
11 Articles
11 Articles
After the COVID-19 plummeted oil prices, Texas’ oil and gas industry recovered. By 2024, operators drilled record amounts of oil. Each barrel was sold at a minimum price of $70, generating profits and a boost that enriched state coffers, school districts, and local government budgets with billions of dollars in tax revenue. Now, President Donald Trump’s promise to reduce oil prices to $50 per barrel could decimate that momentum and cause problem…
·Washington, United States
Read Full Article
News 4 San AntonioReposted by 
myRGV.com
myRGV.comTrump has promised cheaper oil. Texas' economy could pay a price.
ODESSA — After COVID-19 tanked oil prices, Texas’ oil and gas industry rebounded.By 2024, operators were drilling record amounts of oil. Each barrel sold for at
·San Antonio, United States
Read Full Article
Coverage Details
Total News Sources11
Leaning Left5Leaning Right0Center4Last UpdatedBias Distribution56% Left
Bias Distribution
- 56% of the sources lean Left
56% Left
L 56%
C 44%
Factuality
To view factuality data please Upgrade to Premium
