PERMIAN BASIN, Texas (KMID/KPEJ) – The Texas Railroad Commission recently submitted comments on the U.S. Fish and Wildlife Service’s proposal to list the Dunes Sagebrush Lizard as an endangered species.
The RRC says the listing could restrict the production of oil and gas in Texas, “causing a major burden for the industry.” The group also says the burden can affect the state’s economic vitality.
Texas currently leads the nation as the largest producer of oil and gas, while coming in ninth for the largest economy in the world.
Additionally, the RRC says the proposed endangered listing is based on incomplete data and outdated assumption.
Looking at local oil prices, a barrel of crude is sitting steady at $81.14. Bloomberg says that’s up from when markets opened Wednesday morning.
There are currently 313 rigs up and running in the Permian Basin, which is down 19% from this time last year.
Taking a look at gas prices locally, they are on the way down. The average price for a gallon of gas in Ector County is $3.05, while the average in Midland is a little higher at $3.13. People in Andrews are paying an average of $3.12.
Howard County is now sitting at $2.99, the first places in the area to drop below an average of three dollars recently.