The energy industry is big business here in Texas. Regardless of whether you work in the industry, everyone’s affected by its ups and downs.
For Thanksgiving, our go-to energy expert offers a list of three reasons to thank the energy industry this year. Matt Smith is the director of commodity research for ClipperData. Smith says he’s worried about lower prices for Texas oil impacting jobs, but the horizon otherwise looks clear for the energy industry.
“From a production basis things are good, from a cost basis, they’re low for us as end-users and, as we saw from the carbon emissions side of things, those are going down as well,” Smith says. “I think we’re doing okay.”
What you’ll hear in this segment:
– Why California oil prices will make you thankful that Texan oil prices are at their lowest since March.
– How rising oil production and exports gives America more control over its own energy supply.
– How the record drop in coal consumption, an increase in cost-effective renewable energy and a cooler-than-normal summer means U.S. carbon emissions are lower.
Written by Savana Dunning.