Speakers: Patrick Jankowski- Economist, Greater Houston Partnership; Kirk Laguarta and Duane Heckmann- Land Advisors; Jeff Lindner-Harris County Flood Control
Takeaway: Houston’s economy continues to steadily grow, and Harvey will only be a momentary setback in different sectors. A positive from Harvey that was recognized and recorded worldwide was the community solidarity evident here as everyone helped everyone else during this catastrophe.
- Rig count fell from 1931 at peak to 1050 now, BUT many rigs are twice as efficient, so drilling rebound is stronger than it looks from this one statistic
- Oil should continue to adjust to supply and demand but should stay bracketed in the $50-60 range going forward; this will entail some re-hiring in the Oil Patch but reaching nowhere near the last peak
Click here to read the rest of this Article.