Originally published on Tue February 24, 2015 2:39 pm
In Oklahoma, a state that largely rode out the recession on a gusher of new-found oil, things may be about to change.
Now it costs more to produce most of Oklahoma's oil than it's worth on the world market. That's triggering a sharp economic reversal, one that some say has the makings of a prolonged downturn.
"Over the last five years, the stars really aligned," says Roy Williams, president of the Greater Oklahoma City Chamber of Commerce. "The community's investment in itself just blossomed, the energy industry blossomed."