Please answer the following question: In 1986, the world price of oil dropped sharply. Since the USA, at that time, was an oilimporting country, this was considered good for the U.S. economy. However,...

Prior to the fall oil price Texas’ economy was booming that was based on oil market. Texas and
surrounding places were important places of oil producing and other related products. Texas
produced oil on global standard. Texas was home to the country’s oil service and machinery
industry. Prior to 1986 world oil price ruled very high that has brought boom in...