The Forbes 400 list of “The Richest People in America” includes six Oklahomans currently living in the state. Half the wealthy Oklahomans made their money directly from the oil and natural gas industry; the other half are connected to large retail businesses.
Natural gas prices hit a 10-year low last week, and Oklahoma City’s Chesapeake Energy has announced plans to cut gas drilling by nearly half. The Wall Street Journal reports that natural gas prices have declined 45 percent this year, due to a “glut” partly caused by the industry’s own success with horizontal drilling and hydraulic [...]
Oklahoma’s unemployment rate is well below the national average, and it’s among those adding jobs the fastest. Oklahoma is as much an energy state today as perhaps it’s ever been, according to one economist, and finance officials agree that revenues from oil and natural gas have helped shelter the state from the worst of the [...]
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