A repost from the San Antonio Hispanic Chamber of Commerce.
The surge in Eagle Ford Shale drilling has produced sharp gains in economic activity across South Texas. From a low during first quarter 2010 to third quarter 2011, jobs grew at an annual rate of 5.9%, reaching 2.9% above the previous peak value. By comparison, during the same period, jobs statewide increased by 2.4% and remained 0.01% below the previous high. Since the beginning of 2010, the 15,773 net new jobs account for 6.9% of the state’s net gain during the period. It is difficult to estimate how activity will change over the next several years. As long as oil prices stay above $70 per barrel, drilling activity probably will remain strong; at less than $70, drilling activity likely would begin falling off, industry contacts suggest.
Read the full report: Impact of Eagle Ford Shale on Jobs, Income and Spending in South Texas