Ups and Downs in Texas Oil and Gas Industry

In 2015 Texas lost 60,000 jobs in the oil and gas industry, as companies attempted to reduce operating costs and investment fell. One segment of the industry is using the low oil prices to its advantage. Refineries are relying on profits from cheap and plentiful oil and gas supplies to retool and expand facilities. Exxon Mobil and Chevron are building new mammoth-size chemical crackers to process polyethylene from natural gas for the plastics industry.  Chemical output from the Gulf Coast refineries is rising steadily. For Texas employment it means that many laid off oil and gas workers are finding new jobs in the construction and the refining part of the industry, keeping Texas from the employment slump faced by other oil and gas producing states.