With ‘Lower For Longer’ Oil Prices, Houston Might Need A New Job Creator

A new report from the Center for Houston’s Future says the city can’t rely on oil to continue creating the kind of “high value” jobs it has for decades.

By Travis BubenikMay 15, 2018 10:33 am, , , ,

From Houston Public Media:

For decades, Houston has been all about growth, at times leading the nation in creating jobs and bringing in new residents.

But what if in the coming years, that growth slows? Or stops?

A new report commissioned by the Center for Houston’s Future raises concerns. It found three big factors that could limit growth: not enough educated workers, a region plagued by traffic and flooding, and last but certainly not least, a diminished oil industry.

From 2014 to early 2017, the U.S. energy industry cut almost 60,000 oilfield jobs as oil prices tanked. That was just for extraction companies, the number doesn’t count thousands of other jobs lost in other parts of the industry and in related sectors.

Read more.