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Oil And Gas Market Update

Ray Perryman

There is a rush to drill for oil and gas. Texas economist Ray Perryman says that fossil fuel prices are high, and investors are seizing on the opportunity to make a buck. The number of oil and gas drilling permits issued by Texas reached an all-time high in March. That came as natural gas prices hit levels not seen since 2008. Perryman says the Russian invasion of Ukraine also drives the focus on drilling. That, he says, has increased demand for liquefied natural gas, which the U.S. can ship to Europe.