RCR-NEWSRCR Wireless – August 1, 2016 – The oil and gas industry is riding out a violent wave that crashed crude oil prices per barrel to less than $40, down more than 60% from the high of summer 2014. The result is a favorable receipt at the gas pump for consumers, but massive losses for oil and gas producers. In fact, in the third quarter of 2014, when oil prices were more than $100 per barrel, major gas producers posted a total net income of $22.9 billion, according to Bloomberg. It had disappeared by the end of 2015. Read More>>