Wyoming's energy producers take another hit; oil slides to lowest price in 13 years

A big piece of the Wyoming economy took a hit today; oil prices are the lowest they have been in nearly 13 years. The massive drop in price, more than 6 percent, comes following a surplus of crude inventory worldwide. The average price per barrel is now below $27. According to national news sources, oil prices have fallen 25 percent this year and is currently at the lowest its been since May 2003. Today's slide comes after an overall hard year for oil producers. Just check out these last year's chart stock prices of a couple producers who operate in Wyoming over the last year (courtesy of Google). [image: Screen Shot 2016-01-20 at 4.24.03 PM.png][image: Screen Shot 2016-01-20 at 4.24.23 PM.png] While the price at the pumps might feel good to commuters, the trend isn't a good thing for the many Wyomingites whose income is reliant on the oil industry. And the news also certainly isn't good for a state like Wyoming that relies heavily on taxes and royalties from energy. Photo ​h/t Katie Martin / Pitchengine Communities #buckrail #reboot #county10 #springcity #oilcity #dally #county17 #shortgo #bootstrapped #news