Last New Year, the business staff of The Dallas Morning News put together a list of the key topics likely to shape DFW’s business landscape. And we did pretty well.
We thought oil prices were likely to remain lower but relatively steady throughout the year, and we cast doubt on prevailing predictions that our economy would tank if lower oil prices did, in fact, persist. We were right on all counts.
We foresaw downtown Dallas becoming even cooler, and expected the birth of The Star — the Dallas Cowboy’s new headquarters and training center in Frisco’s $5 billion mile — to blow everyone’s minds.
So we’ve put our minds together again to come up with what we see as the Top 10 economic catalysts for the year ahead. We’ll roll out one a day between now and the new year.
No. 1: The power of the Permian
Despite a prolonged slump in oil prices, there was one bright spot in the oil patch last year — the Permian Basin. The vast field that encompasses a large swath of West Texas and parts of southeastern New Mexico has remained surprisingly resilient even as oil hovered around $50 a barrel.
Once it was unthinkable that domestic crude production could be profitable at prices that low. But 2016 saw increases in efficiency and technology that drew more companies looking for opportunities to drill domestically. No oil field benefited more than the Permian.
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Written by Arnessa Garrett