As U.S. oil prices plunged, sand suppliers have shut mines, dismissed workers and slashed operations as customers stop drilling and fracking new shale oil wells. “You can drive by plants and see which ones have already been walked away from,” said Peter Allen, a director at closely held Black Mountain Sand, which operates mines in Texas and Oklahoma. “It will remove a substantial amount of supply and will leave the healthy companies in place,” he said, adding Black Mountain sits on enough cash to weather the downturn. …read more
Source:: Yahoo Finance
