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Nearly half of hotel rooms in North Dakota oil capital sit empty
WILLISTON, N.D. (Reuters) – Nearly half of the hotel rooms in the epicenter of North Dakota’s energy boom have been sitting empty this year, yet another sign that plunging oil prices have cooled the economy of the second-largest crude producing U.S. state.
Producers, oilfield service providers and other energy companies across the state’s western oil patch have cut employee hours, canceled projects and laid off staff, all hoping to weather the low-price storm.
When prices started to slide last fall, producers in North Dakota kept up production levels hoping for a rebound. But since January, that has changed as oil prices kept falling.
By Ernest Scheyder
Full Story: http://mobile.reuters.com/article/idUSKCN0R222U20150902
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