Predict how each of the following events will raise or lower the equilibrium wage and quantity of oil workers in Texas. In each case, sketch a demand and supply diagram to illustrate your answer.

The price of oil rises.

New oil-drilling equipment is invented that is cheap and requires few workers to run.

Several major companies that do not drill oil open factories in Texas, offering many well-paid jobs outside the oil industry.

Government imposes costly new regulations to make oil-drilling a safer job.