An oil well in the Permian Basin. Photo: Spencer Platt/Getty Images

Texas could pass both Iran and Iraq next year in oil production as drilling costs fall and production explodes out of West Texas' Permian Basin, CNN reports.

The big picture: By next year, Texas' oil production is set to jump to 5.6 million barrels a day, up from 2.5 million a day in 2014. If Texas were a country, it would become the third-largest oil producer in the world — behind Saudi Arabia and Russia.

  • Iraq is producing 4.8 million barrels a day, while Iran is expected to see 3 million.

Yes, but: This oil boom comes with its own growing pains, according to CNN.

  • Low unemployment in the state and around the country is making it hard for oil executives to find employees.
  • The Permian is "quickly running out of pipelines" to get oil out of the state, forcing companies to turn to rail and trucks for transport.

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What they're saying: Ruth Bader Ginsburg was a "tireless and resolute champion of justice"

Ruth Bader Ginsburg speaking in February. Photo: Sarah Silbiger/Getty Images

Democratic and Republican lawmakers along with other leading figures paid tribute to Supreme Court Justice Ruth Bader Ginsburg, who died on Friday night at age 87.

What they're saying: “Our Nation has lost a jurist of historic stature," Chief Justice John Roberts said. "We at the Supreme Court have lost a cherished colleague. Today we mourn, but with confidence that future generations will remember Ruth Bader Ginsburg as we knew her — a tireless and resolute champion of justice.”

Supreme Court Justice Ruth Bader Ginsburg dies at 87

Ruth Bader Ginsburg. Photo: Tom Brenner/Getty Images

Justice Ruth Bader Ginsburg has died of metastatic pancreatic cancer at age 87, the Supreme Court announced Friday evening.

Why it matters: Ginsburg had suffered from serious health issues over the past few years. Her death sets up a fight over filling a Supreme Court seat with less than 50 days until the election.

NYT: White House drug price negotiations broke down over $100 "Trump Cards"

President Trump with Mark Meadows, his chief of staff, on Sept. 3 at Andrews Air Force Base in Maryland. Photo: Mandel Ngan/AFP via Getty Images

Negotiations on a deal between the White House and pharmaceutical industry to lower drug prices broke down last month after Mark Meadows, the president's chief of staff, insisted that drugmakers pay for $100 cash cards to be mailed to seniors before the election, according to the New York Times.

Why it matters: Some of the drug companies feared that in agreeing to the prescription cards — reportedly dubbed "Trump Cards" by some in the pharmaceutical industry — they would boost Trump's political standing weeks ahead of Election Day with voters over 65, a group that is crucial to the president's reelection bid, per the Times.