Friday, January 22, 2016

Crashing oil prices decimate Texas boomtowns

PEARSALL, Tex. – Back when the oil money flowed, the Location 581 Saloon would be crammed with pipefitters, welders, derrickhands, truck drivers and all sorts of oilfield workers – as many as 35 of them a night together shelling out more than $2,000 for drinks and good times.
These days, the bar in this South Texas city 50 miles southwest of San Antonio sits mostly empty, except for a few locals. On a recent early evening, three clients sat at the bar. Only two were drinking.
“It’s just like a ghost town again,” said Troy Reeves, the bar’s owner.

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