Every few decades, some global event increases demand for oil, causing the West Texas Intermediate price to surge. Ghost towns across our State are reawakened and slumbering rigs are dusted off as field crews rush to extract the black gold from previously unprofitable formations. The energy sector ignites a boom throughout Texas as streets are flooded with trucks and coffers overflow with money. Then, suddenly, the world hiccups. Prices plunge, rigs are stacked, field crews are laid off and the industry hunkers down as we wait for our next chance to become ‘energy independent’.
