I left Dallas,Texas yesterday en route to Carlsbad, New Mexico to speak at Mayor Dale Janway’s Eddy County prayer breakfast. Flying out to Midland, Texas you look down and immediately see one thing: oil and gas drilling and exploration — and the area is booming, as evident by the countless private jets.
I was met at Midland and flown over to Carlsbad by a stellar American and developer Joe Brininstool – who by the way, is artificially keeping his business below 50 employees due to Obamacare.
We talked about the incredible boon in oil and natural gas in the Permian basin and what it has meant for Carlsbad — economic growth, just as you see in Midland and Cushing, Oklahoma. At dinner Wednesday night with the mayor, we talked about the future of Carlsbad and its sustained economic growth and infrastructure support for its expanding economy.
However Joe offered his concern about the lowering prices of oil and what that will in turn mean for Carlsbad, Midland, and North Dakota. He expressed his frustration confiding that he expects a 12 to 18 month reduction in output and economic disturbance and he wanted to know who is causing this to happen.
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