Federal Reserve compares new and old oil booms

The Federal Reserve Bank of Minneapolis analyzed Bakken data on production, job postings, and construction statistics, among other indicators, which highlighted the current Bakken oil boom as being five times larger than the boom of the 1980s. The report finds that the growth in the oil patch is a more moderate pace, compared to the earlier explosive growth, though oil production and economic activities continue to be quite strong. Read the story in the F-M Forum.