• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day Could Someone Give Me Insights on the Future of Renewable Energy?
  • 1 day How Far Have We Really Gotten With Alternative Energy
  • 1 day The United States produced more crude oil than any nation, at any time.
  • 3 hours "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 8 hours Bankruptcy in the Industry
Magnesium Battery Breakthrough Could Challenge Lithium-Ion Dominance

Magnesium Battery Breakthrough Could Challenge Lithium-Ion Dominance

Tohoku University researchers have developed…

Oil Traders Hedge Geopolitical Risk With Record Options

Oil Traders Hedge Geopolitical Risk With Record Options

Call options are currently trading…

3 Oil & Gas Stocks Most Sensitive To Oil Price Swings

3 Oil & Gas Stocks Most Sensitive To Oil Price Swings

Apache, Marathon Oil Corp. and…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

This Texas Oil Town Sees Strongest Salary Growth In US

Odessa Midland

Driven by the U.S. shale boom in the Permian basin, personal income in Midland County, Texas, grew by the highest percentage—17.5 percent—of all metropolitan counties in the United States last year, data from the Bureau of Economic Analysis (BEA) showed.

The average personal income in the metropolitan areas of the United States grew by 5.7 percent, the data showed, while personal income in the non-metropolitan part of the U.S. increased by 4.8 percent last year.

Last year, personal income increased in 3,019 U.S. counties, decreased in 91 counties, and was unchanged in 3, according to estimates released by the BEA.  

Personal income in Midland and Odessa—two of the centers of the Permian shale production—increased in percentage terms more than the personal income in large cities, while per capita personal income in Midland and Odessa was higher than the per capita personal income in New York, San Francisco, or Boston, according to Bloomberg estimates of the data.

Per capita personal income in Midland and Odessa grew the fastest in the United States last year, according to the BEA data reported by the Real Estate Center at Texas A&M University.

Midland had the lowest unemployment rate in Texas at 2 percent in September, according to data from the Texas Workforce Commission, while Odessa’s unemployment rate was 2.6 percent, tied in third place with Austin-Round Rock and College Station-Bryan.

With the oil boom and population growth, schools in the towns of Midland and Odessa need more buildings to house more students and Odessa is even thinking of buying a hotel to house the new teachers that the schools need. 

This time, unlike in previous boom-and-bust cycles, residents and local authorities believe that the boom will continue as the biggest U.S. oil companies are betting on the Permian to grow their production volumes.

But the already evident slowdown in U.S. oil production growth could jeopardize the boom in the Texas shale towns.

Oil and gas activity in Texas, northern Louisiana, and southern New Mexico declined in Q3 2019 as uncertainty remained high, the latest Dallas Fed Energy Survey showed.  

ADVERTISEMENT

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News