Midland mayor speaks on oil downturn

Midland mayor speaks on oil downturn

MIDLAND, TX (KWES) - The price of oil has continued to decrease for months. As the largest on shore producer of oil in the U.S., the Permian Basin has been hit hard by the decline in the price of oil. Just last week, the price dipped to $30 a barrel, a low the industry hasn't seen in over a decade.

With the decline of the oil industry, the city of Midland has seen other job positions that were left vacant, finally filled.

"For the city, being able to have the water and sewer position filled, being able to have people get your utility work done, our parks. They are a challenge to keep up so we are able to hire and fill those voids," said Jerry Morales, Midland Mayor.

The city is focusing on keeping the economy afloat by cutting back on spending and preparing for the future of Midland.

"We are being careful. We are not going after any large projects. We are really evaluating and seeing what the economy does. For this first half of the year, we are just being cautious," said Morales.

Morales said it's important to stay positive during the downturn and not lose focus on improving other aspects of the city.

Even with the economic downtime, Midland's population has always continued to grow.

"We have to be prepared on roads, houses, infrastructure. We can't stop doing anything. We will still continue to prepare Midland for the future. It's just a very slow down, be cautious, watch your spending. At the same time, we have to keep up with growth," said Morales.

After the markets closed on Tuesday afternoon, the price of oil was listed at $26.55.

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