The drop in global oil prices has had a big economic impact in oil producing regions. The lower prices are expected to should diminish the oil boom in North Dakota and Canada. The situation puts pressure on regulators to relax environmental standards to help profitability, but it also gives the U.S. Forest Service more time to protect lands endangered by horizontal drilling and fracking. Howard Learner from the Environmental Law Policy Center explains how low oil prices affect the Midwest.
(photo: In this July 26, 2011 file photo, Austin Mitchell walks away from an oil derrick near Williston, N.D. (AP Photo/Gregory Bull, File))