TAEP's Texas Petro Index sets record in July

09/16/2013
The Texas Petro Index (TPI), a composite index based upon a comprehensive group of upstream economic indicators, increased to a record 287.7 in July, up 4.4% from the same month in 2012, and breaking its previous all-time high of 287.6 occurred in 2008. The index, which was released by the Texas Alliance of Energy Producers (TAEP), rose to the record amid surges in crude oil prices, drilling permits, and industry employment, reported the state association of independent oil and gas producers. "The monthly crude oil price rose by more than $9/bbl in July, to average more than $100/bbl for the first time since March 2012," said Karr Ingham, the economist who created the TPI for TA...
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