Sentences with phrase «oil bust»
The phrase "oil bust" refers to a sudden and significant decrease in the price of oil, leading to a decline in the profitability of the oil industry. It can result in job losses, economic downturn, and financial struggles for companies and regions heavily reliant on oil. Full definition
That all changed in the 1980s, when the state got badly burned by the now infamous oil bust.
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More than a year into the worst oil bust in a generation, companies keep tallying the carnage.
This is especially true in a changing market when local prices either take off dramatically or plunge precipitously, like during the Texas oil bust of the 1980s.
For instance, a 1980s oil bust sparked a 25 % drop in average Houston home prices between mid-1983 and late 1987 — losses that the Lone Star State's most - populous metro area didn't fully recoup until a decade later.
I also pointed out that this retrenchment had come in a unified way from oil companies, continuing their lemmings - like behavior of rather bad decision making during this entire oil bust.
Over the past five years, the economy has been through a number of shocks, including the eurozone crisis, the fiscal cliff, China's surprise currency devaluation in the summer of 2015, and the shale oil bust.
The most precipitous real estate crashes in Canada in the past 30 years — Calgary during the 1980s oil bust and Toronto in the early 1990s recession — resulted in losses of 25 % to 28 % in the average price of a house.
The oil - and - gas sector - despite the idea that the oil bust is over - was in second place, with five defaults.
Same data lag (and even worse nominal wage growth after the oil bust in 86).
Related: Oil Bust Could End Dollar Domination
While the oil bust hurt their near term financial results, it also gave them an opportunity to execute on their acquisition strategy during a period of greatly reduced prices for target companies.
It was there as we trapped ourselves in the revolving door of oil boom and oil bust.
Oil companies are defending their dividends during the oil bust.
All of the loans were made in the same region to the bank's customers, so an economic downturn such as the oil bust in Texas might cause many of the loans to go into default at the same time.
Seminole, near the New Mexico border, was an oil and agriculture town, and the crops and cattle helped it weather the oil busts, he said.
This was an extremely difficult time in the middle of the oil bust.