Precisely why it is failing, it is no longer real wealth, and because it is(was) one of the few sectors of the economy that was (up until recently) active we are seeing a strong down turn in the percentage of middle class (long term) and GDP (short term). Look for thing to get worse, for all American’s until, policies change to promote the creation of real wealth.
People have made more money off of paper-oil than real oil. The problem is that paper oil is now drying-up due to it being a Ponzi scheme.