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Tuesday, December 1, 2015

Optimism Still Common in Utica Shale Despite Slowdown

From The Columbus Dispatch:
When shale oil-and-gas investment hit eastern Ohio three years ago, the results could be measured in steaks and Shiner Bock beer. 
At least that’s the way they saw it at the Forum restaurant, a hangout for out-of-town oil-and-gas workers just off I-70. In the evenings, the bar at the front of the house was filled with customers from Texas and Louisiana, and they tended to order from the pricier part of the menu. 
So what now, as a sharp drop in oil prices is raising worries that the U.S. energy industry’s boom-and-bust history will reappear? 
Despite such concerns, business remains brisk at the Forum, says co-owner Alex Theodosopoulos, sitting in a booth after a weekday lunch rush. His sales to oil-and-gas workers have dipped some but remain high. 
“The drilling and stuff has slowed down some, but they’re still drilling,” he said.
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