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How Shale Has Transformed One Tiny Town in Texas

We all know the current oil boom has produced winners and losers around the U.S. — and they're often packed into the same small towns.

We all know the current oil boom has produced winners and losers around the U.S. — and they're often packed into the same small towns. This Financial Times video takes you inside one of those front lines of the shale bonanza: Carrizo Springs, Texas.

The once sleepy town is now home to a thunderous flurry of shale-related activities as trucks and oil workers are now a common sight. While the boom has yanked down unemployment to levels below the national average, not everyone is rejoicing.

One resident interviewed in this segment says that the constant traffic has brought "near weekly" accidents and deaths to an area not accustomed to such safety risks (though this claim is not substantiated by additional research in the video). And of course, the mood among oil field workers has also recently turned glum as low oil prices have caused energy companies to reduce hours or lay off workers entirely.

 

 

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