- Madeline Hancock
One expert believes that Oklahomas economy only recently returned to normal from the last bust.
No, hes not talking about the Great Recession of the aughts; economist Russell Evans recently told okcfox.com that weve just now recovered from the states devastating oil bust of the late 1980s.
And he warned that we might be dangerously close to another one.
Were not quite back to some of those reliance, which is probably a good thing, but we certainly are back to a level where we are reliant on the industry as an engine of economic growth, Evans said.
Oil and gas is Oklahoma. Will it be our future as well?
Mayor Mick Cornett is confident, but not overly so.
Despite our successes in diversifying the economy, the energy industry has sort of out-diversified us, he told the local Fox affiliate. In other words, its continued to grow exponentially. Its a good problem to have, especially in good times.
Almost everyone does agree that, right now, were fine. Which is sort of like coming home to find a fully stocked refrigerator and then assuming it always will be stocked.