WTI crude oil price decreased from $78.77 per barrel in November 2014 to $68.98 per barrel at the start of December 2014. Natural gas price rose from $3.82 per million BTU (one million BTU is approximately 974 cubic feet) in November 2014 to $4.30 per million BTU to start off December 2014.
Texas crude oil production for September 2014 was 65,824,450 barrels, down from 75,669,936 barrels reported in August 2014. Texas natural gas production was 595,603,581 Mcf (thousand cubic feet) of gas in September 2014, down from the August 2014 gas production total of 668,465,202 Mcf.
Sources: eia.gov, rrc.state.tx.us
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Dwight Steward, Ph.D.
Dr. Steward regularly writes and speaks on topics involving business and individual economic damages, employment audits, and the analysis of payroll and time data in wage and hour investigations. Dr. Steward has also held teaching positions at The University of Texas-Austin in the Department of Economics and in the Red McCombs School of Business, The College of Business at Sam Houston State University, and at The University of Iowa. He has taught numerous courses in statistics, corporate finance, labor economics, business policies, managerial economics, and microeconomics.
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