Low oil prices pose threat to Texas fracking bonanza
Mon, Aug 17, 2015 - 5:50 AM
Today, even with the price of oil plummeting, no county in Texas comes close to producing as much crude as Karnes County - 6.8 million barrels in June alone. Twenty rigs operated by giants such as ConocoPhillips, EOG Resources and Murphy Oil continue to churn through hard rock thousands of feet below ground.
PHOTO: MICHAEL STRAVATO/THE NEW YORK TIMES
Karnes City, Texas
NO place in Texas produces more oil than Karnes County, but suddenly the roaring economy here is cooling fast, chilled by the plunging price of crude.
Workers who migrated from far and wide to find work here, chasing newfound oil riches, are being laid off,...