The forecast is bright for South Texas and a big thanks goes to the oil & gas boom. A National Petroleum Council report released on September 15, 2011, estimates shale oil plays like the Eagle Ford might add as much as 3 million barrels per day of domestic oil supply. That’s enough to get the news press going. If we can get closer to meeting our own energy needs, that will mean energy security and more jobs.
The 400 mile stretch in south Texas is a job factory and estimates go as high as 66,000 to 68,000 new jobs by the year 2020. That’s direct jobs. When you consider the new hotels and other industries that benefit, that number increase by several fold.
In the U.S., there are a total of 177,100 workers drilling for oil and gas and that is up 21% since the beginning of the recession. Throw in the landowners that are receiving generous paychecks and we have new millionaires born each day.