Boom times in west Texas.......again

[sofadoc]

One question I still have how long will the oil from fracting continue to flow?  Is this a more or less an interim opportunity?

I guess that will always be a prime concern in the oil drilling business..........when will the well run dry?

In the 80's, west Texas oilmen partied like there was no tomorrow. Then "tomorrow" came. Houses were foreclosed on, retail shops were boarded up, banks went under.

Now, with the new fracking technology, those wells are up and running again. Local businesses are thriving again. But city officials in west Texas towns warn that the good times will eventually come to an end again, so be prepared.

Here in Greenville (east Texas), we have a large manufacturing company that makes oil drilling equipment. For many years, the facility operated on a bare minimum crew.

Now, they're hiring like crazy, and paying unskilled workers over twice the minimum wage.
Suddenly, locals who previously could barely afford a crappy apartment are signing mortgages for new homes. I fear that in a few years, those new neighborhoods will all be up for sale (with no buyers).

[Mojo]

Imagine the boom they are having in Nebraska. I just read an article the other day that they are having a helluva time filling jobs. And mind you these jobs pay BIG money. They hire only to lose them to the cold weather found in Nebraska.

I have always felt that in instances such as natural resources, what goes up must come down. Boom and bust has been a big part of their history - oil, coal and natural gas.

Chris