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re: Prices Fall to a Six-Year Low for U.S. Oil
Posted on 3/16/15 at 11:36 pm to lsu480
Posted on 3/16/15 at 11:36 pm to lsu480
quote:
Didn't you start a thread about how Houston was the best and most resilient economy in the US earlier today?
Yesterday, but whatever. Also Houston's economy is very diversified. Oil is just what the rubes see.
2
Posted on 3/16/15 at 11:37 pm to RedRifle
Aren't rig numbers at the lowest levels in years?
This post was edited on 3/16/15 at 11:38 pm
Posted on 3/17/15 at 9:39 am to RedRifle
quote:
Also Houston's economy is very diversified. Oil is just what the rubes see.
If oil stays this low for an extended period Houston is going to get hurt badly...to think otherwise and buy into the diversification is to be a real rube. The housing and commercial real estate markets will get crushed. Houston along with the state of Texas will suffer massive revenue losses. Do you not find it notable that the Houston boom coincides exactly with the rise of oil & gas prices in the early 2000s?
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