Experts: Oil Price Jump Good for the Industry

Oil prices are climbing and while that’s going to hit you at the gas pumps, there is a plus side.

Kym Bolado at Shale Magazine tells us there’s been an increase in the number of people getting back to work in Texas oil fields.

She says once the price per barrel hit 50 bucks, producers started re-hiring some workers. They will likely bring more of them back in if the pries hold steady for a while.

Bolado says OPEC’s promise to cut back on production would also be a good thing for the state’s oil industry.

She adds the oil producers are feeling confident in the new President and the energy experience of some of his cabinet choices.

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