Bellaboo
10-21-2014, 03:36 PM
The early 80's was more than an oil bust. It was also combined with massive banking failures across the entire country.
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View Full Version : OKC vs Peer Cities Bellaboo 10-21-2014, 03:36 PM The early 80's was more than an oil bust. It was also combined with massive banking failures across the entire country. Laramie 10-21-2014, 04:56 PM The early 80's was more than an oil bust. It was also combined with massive banking failures across the entire country. That's right! July 5, 1982 Penn Square Bank was declared insolvent. Penn Square Bank: Anniversary of a Failure that Changed Finance Forever | StateImpact Oklahoma (http://stateimpact.npr.org/oklahoma/2012/07/05/penn-square-bank-anniversary-of-a-failure-that-changed-finance-forever/) BG918 10-21-2014, 09:59 PM I don't think OKC will repeat the oil bust of the 80s; we have a more diversified economy than we did when the oil surplus took its toll on the U. S. economy. I don't think it will be anywhere close to the 80's oil bust but any slowdown in the industry will be felt greater in OKC, Tulsa, Houston and Denver than other cities without large energy sectors, like Omaha. A true bust would be a huge drop in oil prices and a nationwide recession. hoya 10-22-2014, 02:18 PM I don't think a reduction in oil prices will hurt us that badly. Right now the reason oil prices have been going down has been the sheer amount of US oil being produced. That oil costs a certain amount to get out of the ground. It's not profitable to use fracking and oil shale techniques unless the price is like $70 per barrel and above. As a result, that establishes a ground floor for how low prices can go. Prices can't really drop lower than that, because lower than that, the amount of oil we need just doesn't get produced. bluedogok 10-22-2014, 08:32 PM There is so much more world demand now than there was in the early 80's. Remember when the oilies hoped prices would get back to $35.00 a barrel? Laramie 09-29-2021, 08:36 PM Oklahoma City 681,054 /1,425,695 Are the following cities considered Oklahoma City's Peer cities: Louisville 633,045/1,285,439 https://www.bestplaces.net/compare-cities/oklahoma_city_ok/louisville_ky/people Memphis 633,104/1,337,779 https://www.bestplaces.net/compare-cities/memphis_tn/oklahoma_city_ok/people Milwaukee 577,222/1,574,731 https://www.bestplaces.net/compare-cities/milwaukee_wi/oklahoma_city_ok/people Raleigh 467,665/1,413,982 https://www.bestplaces.net/compare-cities/oklahoma_city_ok/raleigh_nc/people |