Price plunge aside, oil people look to next opport
The New Star
Although oil prices have plunged aplenty over the past six months, from more than $100 a barrel to less than $50, today's oil business problems are light years away from what they were in Lafayette in the 1980s.
"We lost 146,000 jobs in the 1980s," former LSU economist Loren Scott said of Louisiana's oil downturn during a five-year stretch in that decade. "Lafayette lost right at 20 percent of their jobs; Houma, 24, percent. It was a bloodbath."
Times were so grim, said Steve Maley, Badger Oil Corp.'s manager of operations, that Charley G's restaurant linked its "lunch special" ticket to the price of a barrel of oil that day.
"I remember getting the lunch for $8.50," Maley recalled with a laugh.
Charlie Goodson, partner in Charley G's, said times weren't only tough on oil people. He
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