Texas Tops the Charts: Lone Star State's Economy Shines Bright

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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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Similarly, we find the oil producers who need a little help (i.e. call Barrel Hub).

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Daily Bulletin

Lone Star Stories

• LNG Storage Peaks in East Asia; U.S. Exports Stay Steady

Japan and South Korea reached historic highs in LNG storage throughout 2023, owing to mild winter weather leading to lower imports and consumption. In the U.S., LNG exports remained robust with 29 vessels departing in one week, despite a slight dip in natural gas deliveries to export terminals and a significant drop in domestic natural gas consumption.

• Texas Tops the Charts: Lone Star State's Economy Shines Bright

Texas' economy grew by 4.9% in the second quarter of 2023, more than double the national growth rate, driven by strong energy production and an acclaimed business climate. The state has received numerous accolades for its business-friendly environment and leads the U.S. in job creation, energy production, and population growth.

Reader Question of the Day

How are international agreements on climate change affecting the operational practices of oil companies?

International climate agreements are prompting oil companies to change their ways, pushing them towards more eco-friendly practices. They're adopting cleaner technologies, like carbon capture, and improving energy efficiency, much like a shift from traditional to greener methods.

Additionally, these agreements are driving oil companies to invest in renewable energy sources, such as wind and solar power. This shift is like expanding their portfolio to include more sustainable options, aligning their operations with global environmental goals and preparing for a future where clean energy is paramount.

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