Monday, April 27, 2026

‘Right now everything I have is shut down’

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Natalie Sherman

Business reporter, New York

Getty Images oil worker in Midland, TexasGetty Images

This is an oil bust the likes of which the world has never seen

The US rose over the last decade to become the world’s largest oil producer. Does the pandemic spell the industry’s decline?

Texas oilman Allan P Bloxsom III still remembers the taunts of “college boy” that greeted him on the offshore drilling rig where his father, desperate for his wayward son to shape up, sent him to work one summer.

“Against my wishes I went and it changed my life,” says Mr Bloxsom, now 63 years old and the president of Fort Apache Energy, a small company that operates oil and gas wells in Texas and Louisiana. “I…



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