Texas oil industry faces prospect of collapse amid Covid-19 losses

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Texas oil industry faces prospect of collapse amid Covid-19 losses
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Oil and gas producers are trying to reopen after a ‘devastating’ halt, but pessimism about an economic recovery is widespread

Jeffrey Lattea finally got his first unemployment check this week, a whole month after he was laid off again. The 34-year-old resorted to government assistance to cover his bills after losing his second job in the Texas oil and gas industry just six weeks into it.

 

Have they diversified at all to wind or solar?

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Petrol tax was introduced 1908 at 3d (equivalent to 1.3 new pence ) per gallon (just over 1/4 pence per litre) . Now in UK 58 pence ( $0.72 U.S ) in every litre of fuel we buy is tax. In the U.S $0.143 ( 12 pence UK ) in every litre of fuel is tax.

This is an opportunity to go clean and green, let's see if they take it.

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