Future of oil-and-gas industry in Texas is uncertain, economist says

Since the recent drop in oil prices from $100 per barrel to around $50 per barrel, predictions about where prices are going have been all over the board. Estimates have been as low as $20 per barrel and as high as $200 per barrel. That’s quite a wide range. What’s interesting is that until the recent plunge in prices, it had become quite fashionable to claim that oil prices would never fall below $100 per barrel.

Now in some quarters, there is talk that oil may never reach $100 per barrel again.…