Could the oil and gas industry see a slowdown this year?


The old saying is that in life, nothing is guaranteed. Apparently that also applies to the Texas oil and gas industry.

The Texas Oil and Gas Association says the industry paid a record level of taxes because of the oil boom. But they also said we could see a slowdown. David Holt with the Consumer Energy Alliance says that in life nothing is guaranteed.

"We do face threats; if there is an economic downturn or reduces demand, it can impact Texas," Holt stated.

One possible red flag last year was while production went up, the number of active oil rigs dropped. And Holt says outside influences can have an impact.

"We have tremendous opportunities provided that the economy continues to hum along at a robust level, and provided that we continue to bring manufacturing jobs back to the United States.

oil rig

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