How important was the 2008 oil peak to the cause of the Las Vegas crash?

Scott Sumner brings it up:

This data on Las Vegas tourism shows that 2007 was a record year for revenue (up over 5%) and number of tourists.  Hotel occupancy exceeded 90%.  Then tourism dropped off sharply in 2008 and 2009.  In my view the housing bust of 2007 destroyed relatively little wealth and had little impact on Vegas tourism.  In contrast, the sharp drop in AD in 2008 had a severe effect on tourism.  (High gasoline prices might have also hurt, but that problem quickly went away.)

That boom in the Vegas tourist industry was at the peak level of US oil imports (by volume). Peak pump price came later, in 2008. Take a look at today, we are operating with oil imports at the level last seen in 2003. And the most recent minor peak in imports came along with a $88/barrel price.

Watching the economy bump up against oil constraints twice. I live in the world of Disneyland and Vegas. Vegas is not only dependent on oil fueled tourism, Vegas is the canary in the coal mine when we talk about transportation bottlenecks. If Vegas is sick, look to transportation.

Krugman had a better diagnosis of Vegas, it is Stranded in Suburbia to the Max.