Question

Oil wasn’t always a hot commodity in Oklahoma, nor was it always readily available and accessible. Explain why oil busts occurred in Oklahoma.

Answer 1

Step-by-step explanation:

Unfortunately the boom is over in Oklahoma, leaving the oil bust of the 1980s as arguably the defining economic event in Oklahoma the past 50 years. Oil production within the state has declined steadily to less than 40% of 1986 levels, with natural gas faring better but now producing only 65% of 1990 levels.