And the oil bust has just begun to be felt in the oil/gas producing states that have been the only bright spot in this lousy economy for the past six years. The unemployment numbers will be worse next month, if the price per barrel doesn’t improve dramatically.
Insightful post. That’s what the media SHOULD be reporting.
It’s not just the job loses but the income lose from royalty checks.
A lot of people have overextended themselves with house, car, boat, and other loan payments based on royalty income.
Royalties cut by half or more and they wont be able to afford payments.