The oil industry in Texas is well acquainted with the boom-and-bust nature of the business. If those working in the Eagle Ford and Permian didn’t save their cash during the boom, they were not very smart. But Texas oil will rise again. It always does.
AND ... there are other parts of the country still experiencing SOME boom
ping
It wasn’t just the Oil Patch ‘hands’ that were unlikely to save a dime of the Boom big money. They never do. It was also a large number of small business service providers and mid-sized producers that lived real high on the proverbial hog during the money tsunami.
Second that.