Odessa Economist Not Concerned about Falling Oil Prices and the Economy

Staff Report
NewsWest 9

The faltering economy is slowly finding its way into West Texas.

Parts of the Permian Basin are finally starting to feel the pinch of lower wages, higher prices and falling oil prices.

But one Odessa economist says it's not gloom and doom just yet.

Doctor Ray Perryman spoke to the Permian Basin Petroleum Association at their luncheon on Thursday.

He talked about some of the big issues facing our local economy in these tough times.

Perryman also says the area needs to brace itself for another boom.

He believes there are miles left for the oil and gas industry.