Filling up your tank at the gas station has never felt so good, and it’s been a while .BUT The economies of oil-producing states like Texas, North Dakota, Alaska, Oklahoma, Wyoming and New Mexico are being hit by the plummeting prices of crude.
Sourced through Scoop.it from: www.thefiscaltimes.com
It is interesting that many of the areas suffering now, were also some of the same areas that did not get hit as hard by the previous housing crash. Why? Because the local fuel economy was doing very well. Now, we see other parts of the country impacted by oil speculation verses real estate speculation.It is becoming clear, the cyclic nature of markets may be become a faster and more intense highs and lows as we move toward a global village economy.Your thoughts?