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Oil price drop takes towns from boom to bust

   June 22, 2021  40 Comments on Oil price drop takes towns from boom to bust

ABC News’ Marcus Moore reports on how the historic drop in oil prices is wreaking havoc on one west Texas town.

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40 thoughts on “Oil price drop takes towns from boom to bust”

  1. The oil industry has always been cyclical – boom and bust. If you work in that industry you had better adopt the philosophy of 'get cash heavy and stay debt-free'. the world energy demand has fallen during the pandemic and will eventually recover BUT that doesn't help people depending on that industry right now. That's why you need to buy only what you absolutely need and put that cash away so that when this happens again ( and it will ) you'll weather it much better.

  2. Thank to Biden and the leftists. They want us to depending on foreigner's oils.
    We will expect more terrorist and foreign nations black mail our nation
    What do you expect when Biden shutdown our oil industries?

  5. O and offcourse 1 World nation is NOD a bad Idea with militairy police and Mafia as old and new order the World Gets better and beautyfuller. GOD wants does everything better and beautyfuller.

  6. I forget to say i have a present for president Thrump. Everybody know that hé is the original winner as a business man actor and president as "ex" democrat. There are maybe in space who ruening in the name off so called blue curse so called pirate curse. As ex European with a language made in Europe by European languages we are family. I AM clad that i heared u van Raise in peace Both confederatie flag and Union. Do this Both with black wimpel is ultra! Script as we know is original Purple Red and black. And we can clone we can produce organs and parts we can live forever in health and beauty. Original cloning in space. <3

  7. The Oil is forever. Gasses recycling in space is always active. If u are not and want to be a distributeur for space in secret OR not You can do this! Dont forget Sun energie wind water Nuclear maghneticfield etc are for other thingd good. Keep it up! And dont forget i like to see 3 dollar Bills and a pope. I voted for Thurmp as Pope of America! With 1 hell of a katholic church behind the room of the White House and different color pope Suits and under the desk different color buttons for changeing the garden and every Girl for a suit. I gold the World that The Wall was for Hollywood u might be not so yellow for me as wisperer that u have a strong maner for acting.

  9. Maina sab use kiya kuch nahi shoda tha, Meri frd ne desi 1 dawa ka bara me bataya, maina order kiya ummeed nahi thi but 4 months me 3 inch size badh gaya

  12. Consolidate to one or two companies in a few years and work these folks to death with all at $10 hour. They will need to maintain the trucks bought during the good times. A little skinnier will help too. No more tattoos! God bless the free market and Merica!

  13. It’s such a dirty and exploitive industry. I’m glad we are moving away from oil where we can. I’m not a tree loving lefty, but the industry causes political and economic problems.

  14. Well… Get out of the oil business NOW… That way we don't have to hear ya whine later when the oil industry goes the way of the coal industry..

  17. Hahaha I saw it coming !June massive gas prices ….. trump will win but will die of a heart attack…then mike will come but huge reveal….science and religion at war…. then then then…the earth atmosphere is losing all its oxygen your welcome

  19. A pure Example of how companies were not prepared for any type of emergency including a Health Emergency that we knew was coming eventually let this be a wake up call and lesson WE ALL. Must put policies and programs together to protect us all and supply what we need when something like this again because depending on an economy when we must shut down so we cannot depend on it. But mist of all let this be a Real lesson that WE Cannot allow just anyone to Run our Country because doing that Gets Us This our very lives are forever Changed and also our very lives are in Jeopardy to just exist I'm disgusted.

  20. There's an expression for this: "The chickens come home to roost."

    This level of poverty and desperation is what America let's loose in countries such as iran and Venezuela. What goes around comes around.

  21. I don't care about these people. Not try to be mean, but these people make 5x what most American's make. Like he said his job has made his dreams come true is because they make good money. Like he said that is 100,000
    question that they make a year if not more. They should of saved money.

  23. Foh did these assholes worry about us and our families when we were paying $5 a gallon ? Do what we did budget and don’t live beyond your means .

  27. As a Gigafactory 1 employee still making batteries for Tesla. I'd say its time for a change, and if you don't adapt and evolve or you will be left behind unfortunately.

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