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Barney Jopson visits the once sleepy town of Carrizo Springs in Texas, transformed into a hive of activity thanks to the boom in shale oil and gas. He hears about the good and bad the industry has brought and reports on how the oil price is threatening the economy.

► FT World News: http://bit.ly/1Exp0iJ

► FT Global Economy: http://bit.ly/1J5mmqH

► Oil Price Plunge Leads To Project Cuts: http://bit.ly/1ddzAoS

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