Texas is set for another oil boom, with production this year expected to hit a record high. That’s according to Karr Ingham, the oil economist who created the Texas Petro Index — a composite based on several upstream indicators. The December 2017 reading of the index was 188.8, up from 151.2 in December 2016. This is still far below the peak of 314.2, which was reached in November 2014, a few months after the price slide began, but it’s much better than 2016 readings. In fact, the TPI has been rising for 13 months in a row. Now, that’s obviously thanks to higher prices and more efficient production, and Ingham noted both, adding, however, that oil price predictions are “all over the map”. Still, he forecast that oil production in both Texas and the United States as a whole will break the previous records. For the Lone Star State, […]