More than 26,000 employees working in the Texas oil and gas industry lost their jobs in April as the coronavirus outbreak has shuttered global oil demand, the Houston Chronicle first reported.
Workers out in the field — including drilling rig operators and equipment manufacturers — were affected most, with the oilfield service sector accounting for more than 22,000 of the industry’s jobs lost in April, according to the Texas Workforce Commission.
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The loss of jobs and revenues have hurt the oil and gas industry, but the losses will be felt across the state. Many local budgets, as well as the state budget, receive various sources of funding from oil and gas taxes. As a result, residents are likely to feel the effects. Gov. Greg Abbott, Lt. Gov. Dan Patrick and House Speaker Dennis Bonnen have already ordered state agencies to cut budgets by 5%. — Mitchell Ferman