Energy-rich Texas finally tumbles into economic difficulty

11/5/2008 | Wall Street Journal, The

The rising price of oil had cushioned Texans from the economic and credit crises that have sacked the rest of the nation this year, but now drilling projects are being canceled, lease offers are being withdrawn and energy jobs are declining as oil and gas prices skid. Once-hopeful landowners in Texas, Pennsylvania and Louisiana are frustrated that energy companies have stopped leasing drilling rights.

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