Texas Petro Index declined for the 22nd consecutive month in December 2020 to 134.3 from 137.0 in November 2020 and 193.2 in December 2019 (down 30.5 percent), according to Texas Alliance of Energy Producers. The index is a statewide measure developed by petroleum economist Karr Ingham that started at 100.0 in January 1995. Ingham said, “Texas upstream oil and gas economy was already in a state of contraction before the onset of covid as an economic event in 2019. The covid impacts beginning in March 2020 are obvious, and the change to the various components of the index (such as commodity price, rig counts, employment, permits and output), as well as the index itself, are easily measured.”