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Message
TM: “Houston Is Not Prepared for the Oil Bust“
Posted on 4/20/20 at 8:04 pm
Posted on 4/20/20 at 8:04 pm
Texas Monthly
The last time the world saw anything as severe as the present calamity was during the Great Recession. Amid that crisis, in 2008, Houston was hit by Hurricane Ike. We still haven’t built the coastal storm surge barrier that experts said we needed after Ike. As Houston suffers another localized disaster—economic, not meteorological—many may wonder if things will be different this time. Will Houston, and Texas, assume that oil prices will quickly bounce back, as they always have? Or will we harness our considerable talent to diversify employment into areas such as wind and solar manufacturing, data analysis, and gene-based medicine? Either way, the Cajun Navy isn’t going to get us out of this one.
The last time the world saw anything as severe as the present calamity was during the Great Recession. Amid that crisis, in 2008, Houston was hit by Hurricane Ike. We still haven’t built the coastal storm surge barrier that experts said we needed after Ike. As Houston suffers another localized disaster—economic, not meteorological—many may wonder if things will be different this time. Will Houston, and Texas, assume that oil prices will quickly bounce back, as they always have? Or will we harness our considerable talent to diversify employment into areas such as wind and solar manufacturing, data analysis, and gene-based medicine? Either way, the Cajun Navy isn’t going to get us out of this one.
28
Posted on 4/20/20 at 8:05 pm to MrLSU
The absolute state of the state of Texas.
Posted on 4/20/20 at 8:05 pm to MrLSU
Can't wait to scoop a River Oaks CC mansion for 6 figs
Posted on 4/20/20 at 8:05 pm to MrLSU
quote:
diversify employment into areas such as wind and solar
Good luck sinking money into these industries.
Posted on 4/20/20 at 8:06 pm to MrLSU
I'm no expert, but when people are allowed to live their lives again, they will undoubtedly use more gas.
Posted on 4/20/20 at 8:07 pm to Jackie Chan
That’s only a small part of why prices are so low.
Posted on 4/20/20 at 8:07 pm to MrLSU
Houston is the next Detroit.
Posted on 4/20/20 at 8:08 pm to MrLSU
Houston is the next Jackson.
Posted on 4/20/20 at 8:09 pm to reddy tiger
quote:
Houston is the next Detroit.
Nah
Posted on 4/20/20 at 8:09 pm to MrLSU
Texas Monthly can't even figure out where to get good BBQ.
Posted on 4/20/20 at 8:10 pm to MrLSU
Posted on 4/20/20 at 8:13 pm to MrLSU
If Houston's economy takes a downturn, ours is going to absolute shite.
Posted on 4/20/20 at 8:14 pm to MrLSU
Isn't Houston pretty diversified now?
Posted on 4/20/20 at 8:14 pm to MrLSU
quote:
Or will we harness our considerable talent to diversify employment into areas such as wind and solar
Cheap oil kills both of those industries.
This post was edited on 4/20/20 at 8:16 pm
Posted on 4/20/20 at 8:17 pm to MrLSU
I mean who's prepared for something like this?
Posted on 4/20/20 at 8:18 pm to BeepNode
quote:
Isn't Houston pretty diversified now?
Mostly Mexicans and Blacks
Posted on 4/20/20 at 8:18 pm to MrLSU
It’s pretty crazy that when the economy goes through even a few weeks of instability the entire oil and gas industry is on the verge of ruin. How can such a giant industry be so unsustainable?
Posted on 4/20/20 at 8:19 pm to 3deadtrolls
Shhhh...this is their wet dream.
Don’t wake them.
Don’t wake them.
This post was edited on 4/20/20 at 8:26 pm
Posted on 4/20/20 at 8:20 pm to BregmansWheelbarrow
quote:
It’s pretty crazy that when the economy goes through even a few weeks of instability the entire oil and gas industry is on the verge of ruin. How can such a giant industry be so unsustainable?
Define commodity for the class...
Posted on 4/20/20 at 8:21 pm to BregmansWheelbarrow
quote:
It’s pretty crazy that when the economy goes through even a few weeks of instability the entire oil and gas industry is on the verge of ruin. How can such a giant industry be so unsustainable?
Leverage, baw
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