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Fact-check: Is the Texas oil and gas industry 35% of the state economy?
PolitiFact s ruling: Mostly True
Here s why: Texas’ oil and gas sector took a tumble in 2020 when the coronavirus pandemic was compounded by a Saudi Arabia-Russia price war that further devastated the global oil market.
In May, two weeks after crude oil prices turned negative for the first time in history, Texas Railroad Commissioner Christi Craddick spoke with the Texas Tribune giving updates on how the industry was handling the downturn.
“Last year, [oil and gas] was about 35% of the state s economy . and so [because this industry] is down . it s gonna affect everything,” Craddick said.
John Nacion/STAR MAX/IPx via AP
Those payments will go a lot further in some parts of the country than others.
Using cost-of-living estimates from the Bureau of Economic Analysis, we put together a map showing what $600 is actually worth in each state and Washington, DC.
Over the weekend, Congress finally came to an agreement on a new stimulus package intended to fight the ongoing economic turmoil stemming from the coronavirus pandemic. One of the major features of the bill, which is expected to see a vote late Monday, is a $600 direct payment to most adults in the US, along with an extra $600 per child to families.
Russell 2000 Recovers at Unprecedented Pace
The Russell 2000 index of small U.S. stocks has gained 99% since the bottom in March. It took just 192 trading days to generate those returns, beating the previous record of 262 trading days in 2009-2010.
The pace of the recovery in small-cap stocks is without precedent. It reflects the dramatic change in conditions since March, including the development of multiple coronavirus vaccines. Between the beginning of June and the beginning of November, the Russell 2000 had been essentially flat, at a level about 10% below the pre-pandemic peak.
Since then, the index has gained 27%, and is now up 18% since the start of 2020.
Russell 2000 Up 99% Since March, and Two More Numbers to Know Published: Dec. 21, 2020 at 5:00 a.m. ET By
Russell 2000 Recovers at Unprecedented Pace
The Russell 2000 index of small U.S. stocks has gained 99% since the bottom in March. It took just 192 trading days to generate those returns, beating the previous record of 262 trading days in 2009-2010.
The pace of the recovery in small-cap stocks is without precedent. It reflects the dramatic change in conditions since March, including the development of multiple coronavirus vaccines. Between the beginning of June and the beginning of November, the Russell 2000 had been essentially flat, at a level about 10% below the pre-pandemic peak.