Question

What happened to the economic importance of oil in Louisiana in the 1980

It increased in importance because many of the Alaska oil wells dried up

It declined in importance because American forces captured Iraqi o fields

It increased in importance due to higher demand from the army

It declined in importance due to competition from cheap foreign oil

Answer 1

Answer:

New Orleans and all of Louisiana discovered that volatility first hand in mid 1980s by March 1986 the oil bust had caused Louisiana unemployment rate hit 13.2 percent the highest in the country and nearly 6 percentage points above national average