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Old 06-12-2012, 04:29 PM
 
Location: Houston
6,870 posts, read 14,856,591 times
Reputation: 5891

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I think Houston being such a major player in the medical field helped weather us through the recession. I work in the medical field and while others were cutting back we continually grew.
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Old 06-12-2012, 06:16 PM
 
18,130 posts, read 25,282,316 times
Reputation: 16835
#1 reason = High price of oil
Through the 90s, the price of oil was $20/barrel
Since 2005 it has been $40/barrel or higher

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Old 06-12-2012, 09:54 PM
 
4,338 posts, read 7,506,675 times
Reputation: 1656
What Recession? I party like a rock star every night.
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Old 06-12-2012, 10:05 PM
 
193 posts, read 340,249 times
Reputation: 233
Quote:
Originally Posted by Dopo View Post
#1 reason = High price of oil
Through the 90s, the price of oil was $20/barrel
Since 2005 it has been $40/barrel or higher
Yup, this is not just related to Houston though. The US dollar is pegged to oil, without it our currency is worthless.

When Libya's Gadaffi threatened to sell oil with his own gold backed currency he was outed in a matter of months...
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Old 06-13-2012, 12:55 PM
 
Location: Pearland, TX
3,333 posts, read 9,172,989 times
Reputation: 2341
Quote:
Originally Posted by baddoctor View Post
The US dollar is pegged to oil, without it our currency is worthless.
Wha? LOL "Pegged"? That makes little sense. So, if it's "pegged" then why does the USD go up in value vs. foreign currencies when WTI spot goes down? I don't get it. Secondly, the US is a net importer of oil so how can you say "without it [oil] our currency is worthless."? We're already "without" it.

Ronnie
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