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Real Assets Adviser

May 1, 2015: Vol. 2, Number 5

Oil City Is Losing Its Viscosity: Crude could blacken the outlook for Houston and other energy-dependent metros

Author: Mike Consol

Houston has got a problem.

The red-hot Texas city has been running its economic engine on high-viscosity oil for years, to great effect. It might be difficult for some of us to believe that economies still run on something this primeval as oil. But oil is the culture in Houston; it is a matter of civic pride. Oil is to Houston what champagne is to France. And it’s a darn good living at $110 a barrel. Houston honky-tonks have been belting out songs of happiness and prosperity for some time now.

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