It's not just the Midland/Odessa area but Wise County has the Barnett Shale and there is another field in and around Victoria. The employment growth in the support and technical services industries is astounding.I don't know enough of about oil production to say much, except that my family followed the oil boom from Odessa Texas to Farmington NM in the mid 80's. Right now, in 2013 the local oilfield has been "halted" by "new pit laws" having seriously hindered the operations here. Right now, supposedly Odessa Texas has the lowest unemployment in the US, the Oilfield is BOOMING..I have relatives who have also moved to Montana and Pennsylvania with their "mid level" oilfield jobs.
My inside connection tells me that two of the big local drilling companies are "contracted to BOOM in 2014". I have been told we have enough Oil and Gas in the US that we could be "Suadi Rich" if we would just do as GT states, and carefully, responsibly gather the recources we have.
THe news of this OILBOOM in my county has me rethinking my plans, becouse alot of the "migrant oilfield welders" have travel trailers and lots with utilities here bring a handsome price. Food for thought..
Some of what you hear is hype, for instance, when you extract oil from oil shale you get more stuff than you started with. When do you put the extra "stuff"? All so the reason Middle East oil is still popular is that it is much cheaper to produce even after factoring in shipping it halfway around the world. We need to stop generating electricity with fossil fuels.