CBS MoneyWatch covered U.S. oil regions bracing for bankruptcies due to the North American oil boom – and subsequent lower gas prices. Pulling from Gardere Partner John P. Melko's recent interview with the Houston Business Journal, CBS noted that areas where the economy depends on oil, such as Houston, are bracing for a financially difficult year.
"We're seeing ripples, but we're not seeing waves crashing on the shore," Mr. Melko told the HBJ in January. "(But) if these prices stick, then we're going to see widespread restructuring in the next couple of months."
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