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With the 2007 rise in oil prices and rising government expenditures, Venezuela's economy grew by 9% in 2007. Oil prices fell starting in July 2008, resulting in a major loss of income. Hit by a global recession, the economy contracted by 2% in the second quarter of 2009, [192] contracting a further 4.5% in the third quarter of 2009.
As of January 1, 2021, Texas has proved recoverable petroleum reserves of about 15.6 billion barrels (2.48 × 10 9 m 3) of crude oil (44% of the known U.S. reserves) and 9.5 billion barrels (1.51 × 10 9 m 3) of natural gas liquids. [275] [276] The state's refineries can process 5.95 million barrels (946,000 m 3) of oil a day.
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900 W 5th Ave, Columbus, OH · Directions · (614) 368-9221