Alice TX Oil Boom Adds Jobs and Sale Tax Revenue

Alice, TX is just the latest town in a series of many that are reporting on the oil boom in South Texas. The Eagle Ford Shale has filled hotels for what will likely be many years to come. Sales tax revenue is up almost across the board and the great thing is activity should continue to grow over the coming months. If oil prices hold, this is the beginning of long-term oil and gas development.

“Alice has its hotels booked, stores expanding and businesses hiring.”

“Those are the benefits of being swept up in the economic flood that is Eagle Ford shale production, City Manager Ray De Los Santos Jr. said.”

” ‘It’s not tourism, it’s industry that’s keeping those hotels filled and those restaurants full,’ De Los Santos said.”

“Workers spending extra cash on lodging, eating and shopping has Alice’s sales tax revenues up 43 percent for the year.”

Read the full news release at Caller.com

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Kenneth E. DuBose

Kenneth E. DuBose

Kenneth DuBose is the past President of Cheyenne Minerals Inc., an independent oil and gas operator. He began his energy industry career with ARCO Oil & Gas. Mr. DuBose then directed development of natural gas storage projects with Tejas Power Corp. He was a founding member of U.S. Minerals, (acquired by Torch Energy in 1999) a provider of internet based education for America’s mineral owners. Mr. DuBose holds a BS in Petroleum Engineering from Mississippi State University. He has served on various industry steering committees, non-profit boards, and is an active member of the Society of Petroleum Engineers, the National Association of Royalty Owners, the American Association of Professional Landmen, as well as being a Registered Investment Advisor. He writes on topics of oil and gas investing, wealth management and personal finance, having appeared in the Wall Street Journal, Kiplinger’s, Kiplinger’s Personal Finance, Houston Business Journal, Financial Advisor and various radio and TV outlets.
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