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Are Higher Oil and Gas Prices Good or Bad for Texas

Crude Oil: West Texas Intermediate Spot Average (Dollars per barrel) Natural Gas: Henry Hub Spot (Dollars per thousand cubic feet) *Prices as of July 9, 2008Source: Energy Information Administration, Bloomberg.com. Crude Oil and Natural Gas Prices: 2006-2008. Where does our oil come from?. QuadrillionBtu.

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Are Higher Oil and Gas Prices Good or Bad for Texas

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    1. Are Higher Oil and Gas Prices Good or Bad for Texas? Presented to 2008 Texas Ports and Waterways Conference Galveston, Texas July 24, 2008 Presented by Bernard L. Weinstein, Ph.D. Center for Economic Development and Research University of North Texas www.unt.edu/cedr

    2. Crude Oil and Natural Gas Prices: 2006-2008

    3. Where does our oil come from?

    5. Growing energy consumption

    6. Oiloholics

    7. U.S. Energy Consumption, 1973-2004

    8. Top Twenty Industries by Total Demand for Natural Gas - Texas

    9. Top Twenty Industries by Natural Gas as Percentage of Total Inputs

    10. Economic Impacts of a $1 per MCF Increase in Natural Gas Prices on Texas Industries and Households

    11. Unconventional Gas

    12. Barnett Shale 1

    13. Devon Expanding Frontiers

    14. Natural Gas Wells in North Texas

    15. Oil and Gas Property Tax Values

    16. Oil, Gas, and Minerals in School District Tax Base, 2005

    17. Economic and Property Income Impacts of Devon Operations: Nine County Barnett Shale Operating Area 2005

    18. Economic and Property Income Impacts of Devon Operations on the Overall Texas Economy, 2005

    19. Total Fiscal Impacts of Devon Operations

    20. Economic and Property Income Impacts of Devon Operations, Barnett Shale Operating Area, 2006-2010

    21. Largest States Ranked by Installed Wind Capacity

    22. Levelized Electricity Costs for New Plants 2015 and 2030 (2005 mills per kilowatt-hour)

    23. Cost of Incentives for Power Generating Projects in Texas ($ in millions except for per job data)

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