West Texas Crude will open just above $21 a barrel on Monday morning. Maybe I’m wrong, but from my take after the coronavirus quarantine comes to an end the NBA story in Oklahoma City will be if this market can sustain an NBA franchise with U.S. domestic oil in the tank to this extent.
Again, google the market cap values of both Continental and Devon from 2012 and in 2020. Also consider both Chesapeake and Sand Ridge are basically history.
This is not the economic portfolio the city presented to David Stern when the viability of the NBA in Oklahoma City was being mulled by the NBA Board of Governors.
We also have to consider the likelihood of this season being finished is becoming less as every day passes.
For me being someone who is equally interested in sports and economics this has suddenly become a fascinating story as the perfect storm hit Oklahoma City at just the wrong time.
Can Oklahoma City as a small market one pro sports town absorb the worst trend in oil in my lifetime?
I’m stunned the white trash rabble Tiger King Netflix film is the state’s primary story line as the price of oil could fall to $10 a barrel this week. That in itself may tell the story of why Oklahoma continues to struggle to achieve overall economic diversity as opposed to being a one trick pony market economy.
To me it shouts one thing… no real vision or leadership from state government. No vision on how to take Oklahoma to the next levels educationally and economically.
Let’s put this in caps….YOUR STATE GOES AS YOUR EDUCATIONAL SYSTEM GOES.
It’s genuinely sad how this state never learns this axiom. Never learns and never escapes the boom/bust cycle of which Sam Anderson wrote about in Boom Town. Great book by the way.
Perhaps Jim Traber can pull himself away from the Joe Exotic inbred dysfunction and talk economics on his show this week. I know he has to be better than what he showed last week. We can get that bullshit from the Flashboys at Daily Thunder. Other than the two chicks Olivia and Glenda ….I’m not reading much which is salvageable.