Texas became the 8th larger economy thanks to the increasing oil production (larger than Russia or Canada). But Texas should invest that money (like Norway or UAE does) as it won't last for ever. When oil is gone (or too expensive to extract) people will leave Texas, and Texas will be a wasteland with orphan wells everywhere polluting underground water.
In general, it would be wise for US to get an exit plan, for when oil would not be so easy to extract (yes it is more difficult now, but the oil price is still high enough). Oil price can be counter intuitive as it is the main fuel of the world economy. So, if the production declines, the price can go up, but not too much. At some point, economies would shutdown, and the demand would fall sharply. Only the countries that would be out of oil (i.e. using electricity from nuclear, solar, wind, hydro) would continue to be humming. The other countries would enter in chaos, unrest and war. Which would generate economical migrations and more chaos.
Again countries should plan for peak fossil fuel, and even if they are lucky to have some oil underground, they should plan to massively transform their economy to electricity and transition the production from fossil to more sustainable production like nuclear, solar, wind and hydro.