Page 2 - Regional Forecasting News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Although the price for a barrel of oil returned to $50.43 in January, Jankowski said the energy industry is unlikely to fill positions that were lost in the layoffs. “The damage has already been done; we've already seen so many layoffs in the oil and gas industry,” Jankowski said. “We're not going to see a significant uptick in hiring. If there's demand for more oil, the industry is going to handle it just by taking their existing workforce and giving them overtime or pushing a little bit harder.” Comparatively, several white-collar sectors have recovered completely from the pandemic,...

Pandemic. Recession. Oil bust. How Houston weathered economic collapse under COVID-19 FacebookTwitterEmail 1of4 Abandoned tanks in Penwell in April. A sudden and devastating oil crash pounded the energy sector,which was still recovering from the deep, two-year oil bust that ended in 2016Elizabeth Conley, Houston Chronicle / Staff photographerShow MoreShow Less 2of4 3of4 Brick and mortar retailers were particularly hurt by the pandemic.Karen Warren, Houston Chronicle / Staff photographerShow MoreShow Less 4of4 A man walks through an almost completely empty parking lot at Franklin and La Branch...

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 ...