The sun could be going down on the rich history of the East Texas oil industry. Taxpayers could see higher property taxes in the future if it does.
A recent report form the Texas railroad commission shows that Gregg county has dropped to 26th in the state of Texas as far as oil producing counties.
Production has been in decline for the past 7 years, and with the decline, more oil companies are consolidating and closing down wells in East Texas.
Gregg county tax bases could face major budget problems if oil and gas prices drop too far, while production continues to decline.