CNBC Comes to Midland to Feature Oil Industry

CNBC Comes to Midland to Feature Oil Industry

By: Alexa Williams

NewsWest 9

MIDLAND- The boom in the Basin, it continues to make national news, even catching the eye of CNBC's reporter Brian Sullivan.

"When we read about the boom, when we hear about the boom, it's nothing like coming out to see it for yourself," Sullivan said.

Brian made the trek to Midland as apart of CNBC's "America's Power Play," it features some of the country's biggest oil and gas fields and how it's helping the economy. So naturally, Midland made the cut.

"Going out to a well, down a dirt road, seeing how it works, and talking to the woman and men who are involved in it and their optimism that this is not going to be another bust, like it was 30 years ago, that this time is different, that this time is for real and hopefully Midland will benefit greatly," Sullivan said.

As an energy expert, Sullivan sees the boom sticking around but there are some issues he just can't ignore.

"With any boom there are tendencies to over pay. One of my main concerns is are people over paying for land, are they speculating too much, there's a lot of new players getting in to the game and when you start to see everybody rush in one direction, sort of the natural instinct on the stock market might be to go in the other direction," Sullivan said.

He also suggested we should move towards oil independence.

"If we can lessen our alliance on foreign oil then we can lessen our need to spend lives and money going around the world, in some cases defending these spots, in large part merely to insure the flow of oil," Sullivan said.

And the New Yorker turned Texan also got to enjoy some southern hospitality.

"The people are just fantastic and I did buy a cowboy hat," Sullivan said.

If you would like to watch Brian Sullivan's story over Midland and energy dependence, click here.