by Joao Peixe, Oil Price:
Due largely to the widespread use of hydraulic fracturing and the resulting boom in shale oil operations, oil production in Texas has exploded in recent years.
In March, production in the lone star state reached a staggering 74 million barrels of crude, the highest level since 1984. Output has doubled in less than three years, from a low of 31 million barrels in 2010. If Texas were a country it would be one of the top 15 largest oil producers in the world, on a par with the likes of OPEC members Venezuela, Kuwait, and Nigeria.
The oil boom has brought without huge expansion in the local economy, with wages soaring, and a population boom as people flock to the area to occupy the growing number of jobs offered by the oil industry.
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