US Oil Industry Booms in Midland, Texas, with Record Profits and Modern Technology

In Midland, Texas, the US oil industry is doing really well, getting more oil from the ground in West Texas than ever before. After losing money for years, companies like Exxon Mobil and Diamondback Energy are now making big profits. This comeback started after tough times during COVID-19 and because oil prices have been high.

Even though people are trying to use more renewable energy, oil is still very important. Companies have also cut costs by using more machines and laying off workers. Since 2021, these companies have made a lot of extra money, about $485 billion. Steve Pruett, a CEO in Texas, hopes people see the industry as smarter and more responsible now.