Boom Goes Bust: Texas Oil Industry Hurt By Plunging Oil Prices : News Photo
Boom Goes Bust: Texas Oil Industry Hurt By Plunging Oil Prices : News Photo
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Boom Goes Bust: Texas Oil Industry Hurt By Plunging Oil Prices

DALLAS, TX - FEBRUARY 06: The Dallas skyline is viewed on February 6, 2015 in Dallas, Texas. As crude oil prices have fallen nearly 60 percent globally, many American communities that became dependent on oil revenue are preparing for hard times. Texas, which benefited from hydraulic fracturing and the shale drilling revolution, tripled its production of oil in the last five years. The Texan economy saw hundreds of billions of dollars come into the state before the global plunge in prices. Across the state drilling budgets are being slashed and companies are notifying workers of upcoming layoffs. According to federal labor statistics, around 300,000 people work in the Texas oil and gas industry, 50 percent more than four years ago. (Photo by Spencer Platt/Getty Images)
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Credit:Spencer Platt / Staff
Editorial #:462878582
Collection:Getty Images News
Date created:February 06, 2015
License type:Rights-managed
Release info:Not released. More information
Source:Getty Images North America
Object name:83654536
Max file size:3000 x 2000 px (10.00 x 6.67 in) - 300 dpi - 1.01 MB
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