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Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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Eagle Ford Shale driving economic boom

texas_eagle_ford-oil-rigOil and gas exploration and production has generated strong economic activity and has boosted the fortunes of both Texas and North Dakota, according to a recent U.S. Bureau of Economic Analysis report.

The energy industry not only contributed to economic growth but also increased durable goods manufacturing — which includes the making of machinery for oil and gas fields.

The gross domestic product — the total value of all economic activity within a state that is adjusted for inflation — increased 4.8 percent in Texas in 2012, according to the Bureau of Economic Analysis. That gave Texas the second-highest economic growth rate in the nation behind North Dakota.

Click to read Oil driving economic booms (San Antonio Express-News, 6-6-13)

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