Thursday, June 12, 2008

In 2001 Midland's conservative voters swallowed concerns about government economic planning to approve a tax to promote economic development and diversification. The Midland Development Corp. has awarded millions of tax dollars to handpicked companies to diversify Midland's dependence on oil, however, these big-ticket investments have been spectacular flops. Now the agency increasingly invests in the booming oil industry--which needs no government aid.

Read the report