Drilling budgets across Texas and the world are being slashed. Crude prices today are almost 60 percent lower than they were six months ago. The last time the world saw such a rapid descent was the financial crisis of 2008. Before that, it was 1986, when two thirds of Texas’ drilling rigs shut down in two years’ time.
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Is a policy analyst for TCAP, a coalition of cities and other political subdivisions that purchase electricity in the deregulated market for their own governmental use. Because high energy costs can impact municipal budgets and the ability to fund essential services, TCAP, as part of its mission, actively promotes affordable energy policies. High energy prices also place a burden on local businesses and home consumers.