Lower Oil Prices Hurt Drilling Communities

Posted November 4, 2014 at 5:10am

The Associated Press reports that “lower oil prices, while good for the broader U.S. economy, are a threat to what has been a surprising and dramatic surge in oil production in the U.S., and to drilling communities that have come to depend on oil money.”  

“‘If the price gets low enough and stays there long enough I’m sure it will affect the number of people and the amount of money that will be spent in the greater community — and I have exposure to that,’ Jundt says.”