Le Norman: Oil, natural gas industry is down but not out

The historic drop in oil prices caused by a decline in demand over fears of a global pandemic and decisions by Russia and Saudi Arabia to flood an already oversupplied market sent ripples throughout Oklahoma this week. Make no mistake – our state’s largest taxpayer and its 350,000 employees were hit hard, and recovery will take time. However, the men and women who work in this industry are resilient. Through their characteristic determination, the industry will weather this storm and work with our elected leaders to prove our dedication to Oklahoma.

Global events beyond our control have put Oklahomans squarely in the crosshairs. Publicly traded oil and gas producers based in our state have lost a combined market capital of $22 billion this year. Companies are responding by…

Read the full article at The Journal Record.