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<blockquote data-quote="Lastkidpicked" data-source="post: 76793" data-attributes="member: 237">Oh, wow.&nbsp; I remember this like it was yesterday.&nbsp; Here is what we saw in real life, and it was mirrored in Dallas:The Seven Sisters were the seven major oil companies (Westar would be one of the Seven Sisters).&nbsp; But in Texas, Oklahoma, and Louisiana there are hundreds of independent oil companies that are a huge part of our economy (Ewing Oil, Luce Oil, and Harwood Oil would be independent oil companies).When the oil crash hit in the 1986, oil prices dropped from $34/barrel to $10/barrel. The oil companies went from making millions of dollars per day to losing millions of dollars per day.&nbsp; For the Seven Sisters, there were cash reserves in place and they were okay.&nbsp; (Think Weststar).&nbsp; But for the independents, they can&#039;t lose millions of dollars per day for very long.As my buddies would say,&nbsp; &quot;I&#039;ve never seen anything go so wrong, so fast!&quot;--Independent oil companies go from making millions to losing millions.--Desperate to save cash, they slash employee travel, especially airline travel--Braniff Airlines, based in Oklahoma goes bankrupt--Texas Air is split up and sold off-- 200,000 homes in Texas are abandoned--&nbsp; I personally saw banks in Texas where people gave up making their car payments, and they parked their cars in the bank parking lots and dropped the keys in the night drop slot.-- DeLorean motor cars goes bankrupt (Think Mark Graison&#039;s car)-- 170 Texas Banks go bust&nbsp; (Think Vaughn Leland)-- 184 Restaurants go out of business (Think Cattleman&#039;s Club)-- Entertainment throughout Texas and Louisianna is cancelled (Think Oil Barron&#039;s Ball)-- EF Hutton, a financial powerhouse since 1904, who survived several gold rushes, two world wars, and the Great Depression but cannot survive the oil bust and it is sold off (Think Franklin Horner and Cattleman&#039;s Bank)--The bank and oil executives no longer have money for high priced prostitutes (think J.R. setting up Harv Smithfield&#039;s son-in-law)-- High dollar prostitutes in New Orleans, Louisiana lose clients.&nbsp; The prostitutes head for the Mustang Ranch in Nevada.-- Mustang II is built alongside the original Mustang house of prostitution and the hookers live on premesis.Then. . .The 1990&#039;s come along, and we Americans forget all the lessons we learned during the boom and bust.&nbsp; Google Ford Excursion, Dodge Duallies, and Civillian Hummer H1 to see how ridiculous it all became again.&nbsp; The oil crash was officially over as the 1980&#039;s gave way to conspicuous consumption of the 1990&#039;s.It was a helluva ride!!!</blockquote>

[QUOTE="Lastkidpicked, post: 76793, member: 237"] Oh, wow. I remember this like it was yesterday. Here is what we saw in real life, and it was mirrored in [I]Dallas:[/I] The Seven Sisters were the seven major oil companies (Westar would be one of the Seven Sisters). But in Texas, Oklahoma, and Louisiana there are hundreds of independent oil companies that are a huge part of our economy (Ewing Oil, Luce Oil, and Harwood Oil would be independent oil companies). When the oil crash hit in the 1986, oil prices dropped from $34/barrel to $10/barrel. The oil companies went from making millions of dollars per day to losing millions of dollars per day. For the Seven Sisters, there were cash reserves in place and they were okay. (Think Weststar). But for the independents, they can't lose millions of dollars per day for very long. As my buddies would say, "I've never seen anything go so wrong, so fast!" --Independent oil companies go from making millions to losing millions. --Desperate to save cash, they slash employee travel, especially airline travel --Braniff Airlines, based in Oklahoma goes bankrupt --Texas Air is split up and sold off -- 200,000 homes in Texas are abandoned -- I personally saw banks in Texas where people gave up making their car payments, and they parked their cars in the bank parking lots and dropped the keys in the night drop slot. -- DeLorean motor cars goes bankrupt (Think Mark Graison's car) -- 170 Texas Banks go bust (Think Vaughn Leland) -- 184 Restaurants go out of business (Think Cattleman's Club) -- Entertainment throughout Texas and Louisianna is cancelled (Think Oil Barron's Ball) -- EF Hutton, a financial powerhouse since 1904, who survived several gold rushes, two world wars, and the Great Depression but cannot survive the oil bust and it is sold off (Think Franklin Horner and Cattleman's Bank) --The bank and oil executives no longer have money for high priced prostitutes (think J.R. setting up Harv Smithfield's son-in-law) -- High dollar prostitutes in New Orleans, Louisiana lose clients. The prostitutes head for the Mustang Ranch in Nevada. -- Mustang II is built alongside the original Mustang house of prostitution and the hookers live on premesis. Then. . . The 1990's come along, and we Americans forget all the lessons we learned during the boom and bust. Google Ford Excursion, Dodge Duallies, and Civillian Hummer H1 to see how ridiculous it all became again. The oil crash was officially over as the 1980's gave way to conspicuous consumption of the 1990's. It was a helluva ride!!! [/QUOTE]

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