Alarming West Texas Oil Theft Emerges As National Security Threat
“The old joke in the oil field used to be that if it wasn’t bolted down, it would get stolen,” ~Michael Lozano, Permian Basin Petroleum Association
(ZeroHedge) – Criminals are exploiting weak points across the West Texas oil production region, which accounts for 15% of the world’s energy resources. This emerging wave of oil theft is burning a multi-billion-dollar hole in the budgets of oil and gas operators across the Permian Basin and is becoming a national security threat.
Bloomberg reports that oil and gas producers are losing at least $1 billion, if not more, per year due to oilfield theft in what the outlet describes as something straight out of a “Mad Max” movie.
At the center of the Permian Basin is Martin County, one of the most important oil-producing counties in the country.
Read Full Article: https://www.thelibertybeacon.com/alarming-west-texas-oil-theft-emerges-as-national-security-threat/
