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Oil Prices Turn Negative, Texas Could Be Hit Hard

In a single day of trading, oil prices plunged below zero. SMU economist Bud Weinstein says the problem is supply and demand is way off balance and will hit the state hard. While he doesn’t believe it is the end of the industry, he says it may take years to recover. If there is good news, Weinstein says the price of gas will be about a dollar a gallon for the foreseeable future.