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Louisiana Record

December 1, 2017

Louisiana Record - It is not uncommon to hear people all across Louisiana talking about the Permian Basin and for a good reason. The west Texas formation saw its first commercial oil well completed in 1921, and since then, the basin continues to be a predominant supplier of United States oil and gas. Some even say that an oil and gas recovery begins and ends in this portion of West Texas.

The Lone Star state has benefitted tremendously from the exploration, production, and transportation of oil and gas. Recently, Texas Tech University conducted a report looking at the current and future impacts of the oil and gas pipeline industry on Texas' bottom line. The report found that between 2014 and 2024, the pipeline industry's economic impact will generate around $374 billion in economic output, $212 billion in additional gross state product, and contribute $19.5 billion in state and local government revenues, as well as sustain an average of 171,000 jobs. Who wouldn't be eager to talk about these numbers?

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