This is one of those death of the modern west stories written by Larry McMurtry. (He was a Texas writer - my mother briefly had him as a English Professor at TCU and had the book "Horseman, Pass By" - later renamed "Hud"). Depressing writer, McMurtry. Tears of Endearment is also McMurtry - I think, as is Lonesome Dove and Brokeback Mountain.

I've not seen Last Picture Show though...the others yes, just not that one for some reason.