Trump has promised cheaper oil. Texas’ economy could pay a price.
Coronavirus
After COVID-19 tanked oil prices, Texas’ oil and gas industry rebounded. By 2024, operators were drilling record amounts of oil. Each barrel sold for at least $70, bringing profits and momentum that enriched the state’s coffers, school districts and local government budgets with billions in tax revenue. Now, President Donald Trump’s pledge to bring oil prices down to $50 a barrel could decimate that momentum, making trouble — even if temporarily — for the Lone Star State. Trump, who suggested
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