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.
A new pipeline in Hobson is gushing money for the small towns that dot a 400-mile stretch that geologists call the Eagle Ford Shale.
"I'm gonna hire as many people as I can possibly afford to hire," David Brodsky told CBS News reporter Bigad Shaban.
Brodsky used to own a coin laundrymat. Now, he's on his way to becoming a millionare.
"I was just sitting in my living room one day," Brodsky says, "and somebody knocked on my door and decided they wanted to lease my property for oil."
Brodsky used the money to buy three RV parks - which are now packed with oil workers. So he's expanding. He's building up to 600 rooms, which are all already rented.
Energy companies are rushing to the area to tap deposits that could produce up to 12 billion barrels of oil, and enough natural gas to power every American household for at least five years.
By 2020, that number is expected to increase to 66,000.
Read the full news article at cbsnews.com