This is all good with a long view. Things are going to get a lot worse but the outcome will be the reality: things have gotten so inflated (because of the long period of high oil prices) that a correction is inevitable. It can't be stopped. Visit Alaska history ca.1980's when the exact same thing happened. Just one example is that home/land prices will collapse and allow those who are positioned to take advantage. Those who are thus positioned will make their way. Same as it always was, same as it always was. I remember well all the political hacks fluffing the 'fact' that the Dakota's were the model of the future re courting the energy industry. Political ads about some Billy-Bob LEAVING Alaska to go there because 'the environment was more friendly'. And now? Ghost towns that are wishing it never happened. A great cautionary tale! We have met the enemy and...

Just one of many Googles coming to your own town:

http://money.cnn.com/2016/02/02/news/economy/oil-bust-north-dakota-budget/