Texas Energy Tango: More Money, More Jobs

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Daily Data Dump

The good, the bad, and the ugly of Texas oil production.

Best of the Best 🏆️

Every week, we sift through our proprietary data to find the best performers in Texas.

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Daily Bulletin

Lone Star Stories

• Texas Energy Tango: More Money, More Jobs

Texas oil and gas industry witnessed a substantial surge in wages by 22% and employment by 8.1% in the first two quarters of 2023, emphasizing the sector's importance and resilience. Despite the growth, potential challenges loom, including possible capital expenditure cuts and a decline in rig counts, which may influence future growth prospects.

• Wind Fail: Texas Gulf Gets Cold Shoulder from Energy Bidders

The federal government opened two areas in the Gulf of Mexico for wind farm leases, but no companies placed bids amid concerns about Texas' shifting stance on clean energy. While some attribute the lack of interest to political reasons, others cite economic factors like the state's already abundant and affordable land-based renewable power.

Reader Question of the Day

How are digital twin technologies being used to simulate and optimize oil refining processes?

Digital twin technology is like having a virtual copy of a real-world object or system. In the oil refining world, this means creating a digital replica of the entire refinery, from pipes to tanks. With this virtual model, companies can run simulations, test different scenarios, and see how changes might affect the refining process without touching the actual equipment. It's like playing a video game version of the refinery to learn and practice.

By using these digital twins, refineries can make better decisions. For example, they can find the best way to mix different types of crude oil or discover how to save energy during the refining process. It's a smart way to improve efficiency, reduce costs, and even make the refining process more environmentally friendly, all without the risks of experimenting on the real thing.

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