Oil and gas paid $16 billion to Texans in tax revenues (local and state). $40 billion in loans are due this year - $400 billion in loans are due the next 4 years. If oil stays low - they can’t pay those loans back and that impacts the banks. That impacts everyone. Gas prices won’t plunge on extremely low oil - but everything else will. It’s all interconnected.
That is what they want to destroy oil patch America with bank loans a being called. This is causing the bank liquidity issues.
Russia / Saudi is our enemy