Pemex's Unwanted Bang: Major Oil Output Fizzles After Explosion

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Lone Star Stories

Pemex's Unwanted Bang: Major Oil Output Fizzles After Explosion

Petroleos Mexicanos (Pemex) reported losing capacity for about 700,000 barrels of oil daily, more than a third of its daily output, after a significant platform explosion that resulted in at least two fatalities.

Texas, in particular, has seen significant job growth and economic expansion, boasting the fastest GDP growth rate and highest job creation in the U.S., much of it underpinned by the state's robust oil and natural gas industries.

Texans Pay a $77 Billion Cough-up Charge for Oil & Gas Production

A joint study by Boston University School of Public Health, the University of North Carolina Institute for the Environment, PSE Healthy Energy, and the Environmental Defense Fund has revealed that air pollution from domestic oil and gas production results in about $77 billion in health impacts annually nationwide, with Texas being among the states suffering the most health damage.

Reader Question of the Day

What is the difference between conventional and unconventional oil reserves?

Conventional and unconventional oil reserves are both sources of petroleum, but they differ primarily in the nature of their geologic formations and the techniques required to extract oil from them.

1. Conventional Oil Reserves: These are traditional oil sources that are relatively easy and cost-effective to extract due to their location in porous rock formations. Natural pressure aids in extraction once a well is drilled.

2. Unconventional Oil Reserves: These are oil sources located in geological formations that don't allow easy oil flow, making extraction more difficult and costly. Techniques like fracking are often needed. They typically have a greater environmental impact.

Sources 1