Oil Boom Is Enriching U. of Texas and Texas A&M

A new oil boom is enriching the University of Texas and Texas A&M University, primarily their flagship campuses, but also the other institutions in the systems, The Dallas Morning News reported. The universities benefit from the Permanent University Fund, created by the state with land in west Texas. The energy produced from the land is resulting in recent endowment growth of 70 percent a year, leading to considerable building of facilities and expansion of programs at a time many state systems remain unable to find cash.