"Texas’ oil output has doubled in less than three years, putting it in the ranks of OPEC heavy-hitters like Venezuela, Kuwait and Nigeria.
The oil boom has created housing shortages across Texas and New Mexico. And one developer wants to capitalize on the surge by erecting Texas’ sixth tallest skyscraper, which would be called Energy Tower, in a West Texas boomtown. It would be twice as tall as any nearby buildings in the town of 115,000 residents.
Drilling activity suggests the boom will continue. There are 835 drilling rigs at work in Texas — about 25 percent of all rigs in the world, according to the latest Baker Hughes rig count."
25% of all drilling rigs in the world?? That right there is an amazing statistic. So what's stopping the rest of the country from emulating the success of the Lone Star State?
I think you know the answer.
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