Oil towns and counties in America’s states most dependent on oil revenues are once again hit by the bust in the oil cycle, but this time the drilling activity slump and the job losses came faster than in previous downturns. And it may take years for communities and state economies to recover from the oil price crash and the lockdowns in COVID-19 pandemic, state and town officials told The Hill . Oil towns in Alaska, North Dakota, Wyoming, Texas, and Oklahoma are accustomed to the boom-and-bust nature of the oil industry, but this time around, the economic prospects and job losses are aggravated by the layoffs in the hospitality and entertainment industry amid the lockdowns to curb the spread of the coronavirus. Alaska, for example, could be in for a severe budgetary headache after the oil price and oil demand crash. Alaskan officials admitted in March that the oil […]