“Map: Which States Get Hurt Most by Plummeting Oil Prices?”

Here’s the bottom line: “[F]alling oil prices would cause overall employment losses in Wyoming, Oklahoma, North Dakota, Alaska, Louisiana, Texas, West Virginia, and New Mexico, with the greatest percentage losses in the first three.” This sort of boom and bust is hardly unprecedented. Between 1979 and 1982, global oil prices increased tenfold thanks to decreased output after the Iranian Revolution. Texas, a major oil-producing state, benefitted hugely — growing at a torrid 7.5 percent annual rate during that time. But then prices crashed in 1982, and Texas’ economy crashed along with it, falling into a deep two-year recession.

Read more at: www.vox.com