HOUSTON, TX — (Marketwire) — 06/12/12 — In any culture, industries that may at first seem unrelated are in fact closely intertwined through shared economic factors. That much is evident from recent reports about a surge in pickup truck sales. While truck sales have long been down, thanks in large part to a declining construction industry, USA Today that pickup sales have recently seen a major increase — and for a reason that may initially seem surprising. According to the report, the increase in truck sales can be traced to an increase in oil and natural gas exploration — a development that has won the attention, and the favor, of companies like Aztec Oil & Gas, Inc.
“We are encouraged to see other companies benefiting from an increased emphasis on oil and natural gas exploration,” comments Waylan Johnson, President of , Inc. “Seeing other industries benefit from an oil-drilling boom ultimately lends our industry affirmation, and also makes us hopeful for national economic recovery across the board.”
The USA Today article claims that a recent surge in oil drilling activity, as well as exploration for natural gas, may actually be the result of increased gasoline prices. As gasoline prices go up, companies like Aztec Oil & Gas, Inc. become more zealous for finding new sources of oil, as well as less-expensive natural gas.
Still, there are other factors in play, the USA Today article suggests. One of them is the fact that the economy is, indeed, improving, and while recovery may be slow, the article proposes that it may offer consumers enough optimism to make purchases they have long put off, such as the purchase of a new truck. On a related note, the article cites “pent up interest” as another reason for the surge.
Several auto manufacturers have posted increases in the sales of pickup trucks. GM–s full-size pickup sales, as of March, were up by 14% from the previous year. Ford–s F-series sales were up by nearly as much, while Chrysler–s Dodge Ram sales have seen a 23% uptake in a year–s time.
Meanwhile, crude oil production is also on the rise, according to the March report from the U.S. Energy Department. Production is projected to rise from 2011–s rate of 5.6 billion barrels per day to a rate of 5.83 million barrels a day, if not more.
Companies like are not only helping the auto industry, but are also contributing to an economic recovery in general. The oil industry is adding numerous new jobs — 26,300 over the past year. In areas where oil exploration is particularly prevalent, such as in North Dakota, and Texas, unemployment rates are at national lows.
“We are enthused about any role we are able to play in the continued economic recovery of this nation,” confirms Johnson. “We are thankful that our industry can prove so beneficial to other individuals and other companies alike.”
ABOUT:
Aztec Oil & Gas, Inc. is an energy company based out of Houston, Texas, with its operations office in Spicewood (Austin), Texas. The company is devoted to minimizing the financial risk factors traditionally associated with oil and natural gas exploration, and presently drills, and participates in, a significant number of primarily oil wells each year.