As oil prices slump amid the coronavirus pandemic, industry advocates are seeking to assure the public that production in Texas should continue without disruption.

When Major League Baseball postponed the opening of its season, teams also closed their spring training camps. That’s a $25 million hit to the Arizona economy, where many clubs train, local experts say. Meantime, every NBA game that the Chicago Bulls don’t play because the league has suspended its season will cost the Windy City…

“Behind all this is the economic impact of the CoronaVirus, which is still uncertain. We can’t look at the impact of a drop in oil and gas prices on Texas in a vacuum, but the consequences for Texas of the drop in prices will depend on two questions: 1.) How low, and 2.) How long,” says the Texas Taxpayers…

Coronavirus hit the global markets this week, sending stocks reeling and pushing economies toward possible recession. In Texas, the view could be even bleaker thanks to plummeting oil prices. Analysts say the state can expect layoffs, bankruptcies and state revenue shortfalls in the months ahead if prices remain low.

The state’s oil and gas industry, which by some estimates accounts for 8% to 10% of the Texas economy, had been punched in the gut during the past couple of weeks, with the coronavirus slowing the world economy and a oil price war between Russia and Saudi Arabia.