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Plunging Oil Prices Trigger Economic Downturn in Fracking Boom Town

2015-01-03 16:21:00| Climate Ark Climate Change & Global Warming Newsfeed

EcoWatch: When fracking and horizontal drilling made the oil embedded in North Dakotas underground Bakken shale formation accessible for extraction, it touched off something akin to a gold rush in the state. Oil production has grown 600 percent in the last decade. Small towns, called man camps, have sprouted with growing populations of oil field workers, bringing both increased economic activity and employment and increased crime and social problems such as sexual assaults. But plummeting oil prices...

Tags: prices town economic oil

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