3 out of 7 oil rigs have been idled in Texas since August. [View all]
The mainstream news media didn't make a big deal about the price of a gallon of gasoline dropping at the pump since the end of the summer.
So, I thought I would do a little investigating into the subject on my own.
I thought now would be a good time to tell you that I talked to a guy that works for an oil company on an oil drilling rig located in Montana.
He was here for Christmas, while he was home for the holidays to visit his family.
He told me that the oil company that he works for wasn't fracking for oil in Montana, but was actually drilling for oil.
He used to work in Alaska for the past several years, but the company transferred him to Montana about 2 years ago.
However, the biggest surprise I got from talking to him was when he told me that many of the Texas oil rigs had been idled since August, before the end of the summer.
He said that on the 4th of July there were 700 oil drilling rigs in Texas that were busy pumping oil out of the ground daily, but that only 400 of them were still active by Christmas.
He said that when the price for a barrel of crude oil started dropping from around $110 dollars per barrel in July was when they started taking the oil rigs in Texas offline.
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