Falling oil prices in US affects energy-producing states
December 27 , 2014
Falling oil prices has upped the anxiety quotient in the US as the energy-producing states dependent on oil and gas revenue expect layoffs and lowering of agency budgets. The concerns over possible ramifications are felt across all states, be it the oil states like Alaska and Louisiana or the states such as North Dakota that are beneficiaries of the energy boom in the US. The cascading effect of extended downturn is already felt in Houston and Texas with the latter losing 2,300 oil and gas jobs in October and November.