Texas Gas/Oil Operations and Development: Boom or Gloom?

Texas Gas/Oil Operations and Development: Boom or Gloom?
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Texas Gas/Oil Operations and Development: Boom or Gloom?
Abstract
Over the years, there has been an increase in the discussion of oil and gas production in Texas. The main reason is that most people have been surprised by how the production has been over many years without growing extinct. Furthermore, the people have also been looking forward to understanding this production's measures in this state and America. The main reason is that this process would help them make informed decisions about whether the government should stop or continue this production. This research has shown that oil and gas production has had outstanding benefits for the country. For instance, it has boosted the country's GDP over the years. Moreover, it has been a source of employment and support industries in the region, making it one of the most outstanding cities in the world.
However, despite its outstanding benefits, it also has some weaknesses. For instance, this production has been a major source of air pollution. There have been other instances where it has caused water pollution and the death of some animals. Furthermore, this production has exposed people to health conditions such as asthma and cancer. Since production has benefits and weaknesses, the paper addresses the measures that the government should use to minimize weaknesses and maximize benefits. For instance, it should ensure the companies treat the air and waste before emitting or disposing of it. Moreover, the government should employ hefty fines on companies breaking these regulations. These methods will help the production to continue having outstanding impacts.
Pros of Oil and Gas Production in Texas
One of the reasons that have caused Texas to continue booming is that it has succeeded in maintaining its leadership position. For instance, Texas is the leading state in gas and oil production. For instance, in 2021, it accounted for 25% of all the natural gas market in the U.S. Furthermore, this year, this state accounted for 43% of all the crude oil produced in the U.S. Texas has also been highlighted as the leading state with the highest number of crude oil refineries and the greatest refining capacity. For instance, Texas has 31 petroleum refineries with a combined capacity to process approximately 5.9 million crude oil barrels daily. This will account for approximately 32% of the total American refining capacity. Furthermore, Texas has also been the leading state in electricity production since it produces 12% of the total electricity produced in America.
Being the leading country in oil production has helped this state continue booming for long. For instance, when the company leads mass production, it will likely enjoy economies of scale. For example, since the state purchases most of the production products in bulk, it will likely have higher bargaining power than the others. This will help the state save costs compared to the other states. Furthermore, since the state also produces in bulk, it is cheaper than when it produces less. This instance usually makes the companies enjoy more profits. Furthe...