So gas prices are a frequent question right now along with oil. I address some of the relations between the two with an eye to prices in the midwest.
Thinking about Oil Price Declines and the ND Economy
The importance of oil to recent economic performance in North Dakota is well-documented. As the biennial legislative session gets underway the price declines of the last several months are likely on everyone’s mind, and rightly so. This Wall Street Journal article details the difficult decisions facing oil companies in the relatively near future as far as capital spending, dividends, and other expenditures are concerned. This New York Times article discusses the scaling back in rigs across the country due to lower oil prices.
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