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The Texas Tribune
The Texas Tribune
National
Carlos Nogueras Ramos

Trump has promised cheaper oil. Texas’ economy could pay a price.

Oil Texas Economy Donald Trump Ray Perryman Ed Longanecker Todd Staples Odessa

ODESSA — 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.

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