Oil Boom- who is the one getting hurt?

elastic or Inelastic ? 

Labels on : Jobs, people's Educations, Rent of Housing, affect in the society.
           

Earlier this year, in Glendive the epicenter of the hectic Bakken oil development has destroy the equilibrium of economic and the enrollment of colleges around.



After some investors found out there is plenty of Oil resource around Williston, a great number of  oil factories have built up.It was a development with unexpected, and the growth increased rapidly. 
it has provide people lots of jobs, but it also caused the lack of equilibrium.
it started destroy the way of housing, educations required, at that region, because the jobs required too much.

   that caused a one-bedroom apartment in Glendive that used to rent for $400 now goes for $800 to $1,000. Mobile homes rent for $1,000 or more. however, the motels and hotels are still full, some oil filed crew are living in Glendive; because there is no vacancies in Williston and Sidney. 



The high rents have made students feel hard to found places, also it makes difficult for school to hire staff members, because most of them are not willing to pay such price for a place to sleep.


it could affect the enrollments for students also for staff members. 
Not only because of the rent of house, also it affect student's ambition
because of this oil development increased too fast,  they need plenty of new workers,
some high school graduated kids who can earn $25 an hour in the oil field are going to work after graduation instead of going to college. 
Those people, who suppose get good educations and good futures, but they have decide not to, just because of 25 dollars, just because of some benefit for while.  


even though those firms are providing jobs for people,but base on the boom, it is not a good new for the society.

First of all, the housing  rent has gone up rapidly which people cant afford to pay. 
so let say people are paying most of their salary for the housing,
they will not get much money left after foods and some necessity product.  

So the Demand of other product(ex: clothes, foods,) would gone way down, but only the ( hotel, apartment, motel) housing's revenues are going way up.
and people will not live well. 
 what can those workers do after they finish this job, they didnt  go to universities, they dont have enough work experiences to do other jobs. It would lead a downturn to the economic development by loosing a massive of human resources, because there wouldnt be enough employees with well education.  That will cause the human resource loose, and company would seek  foreign high educated employees, which will lead the domestic  unemployment rate increase.