For more than a year the continuing slide of oil prices from $120 to now $40 a barrel has caused economic pain to the industry. Globally the 250,000 oil workers have lost jobs. Now as stock prices have erased the values of many of oil and oil-servicing businesses debts are being called in, and for many who can't pay the last recourse is bankruptcy protection.
Who is feeling the pain in Texas?
Guests:
- Bradley Olson, National Energy Correspondent for the Wall Street Journal
- R. Glen Ayers, Bankruptcy Lawyer specializing in oil and gas for the law firm of Langley & Banack
