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You might want to simmer down yourself! A decade ago, everyone was panicking about Dubai taking the "Energy Capital of the World" title from Houston--it never came to pass.
DFW is heavily dependent on consumer consumption and a stable U.S. economy; the bubble has now been popped by Coronavirus. The empty shelves in the store is a big sample of Venezuela for the past 6-7 years; the Venezuelans here in Katy never expected the problems that they left behind to follow them here. (I still can't believe that the whole American supply of disinfectant is gone!)
Houston is more in the mold of Los Angeles, where Hollywood was the catalyst that attracted people and business that made L.A. into an Alpha global city. Admittedly Houston has not been credited for being global (due to the port and the Energy Industry) because of its small size in the U.S. until recently, while the rest of the U.S. was domestic focused for the 20th century.
One could say that when Nixon took the dollar off the gold standard, it did not become a fiat currency--it was backed by oil instead. Foreign policy since has focused on energy, especially on the supply of oil. Oil has motivated the U.S. to go to war in the Middle East (Gulf War I and II) and intervene in other oil producing countries (Latin America--especially Venezuela, post-independence Angola, etc.). Oil is the big reason that USD is the world currency.
I've read an editorial that lambasted the Tech industry having too many junk companies. One example: Facebook doesn't contribute to society--it helps spread fake news, hysteria, and fear because some people are too stupid to treat it as a news source.
It's interesting that the industry brings income inequality and social tension in whatever city it decides to locate a hub. There has been no industry until now that has hindered society and an industry that cities dread.
Also Tech is susceptible to tanking--more like internet disruptions and power outages (a dependence on the Energy Industry!!!). Also the Xenophobes are starting to destroy Silicon Valley and it's becoming more likely that India becomes the Tech capital. Many talented Indians want to work in Silicon Valley but the visa shortage--and resulting wait--means that they are driven to start companies there or are attracted to Europe, Canada, or Australia instead.
I'm not claiming that traditional O&G is going away or that Houston will no longer be its world capital. (Who in the world would ever think Dubai could become a world energy capital?) I just think that without some sort of major technological or structural change on which it can capitalize, it has entered a prolonged and likely permanent period of stagnation. It will likely emerge from the current market disruption in a smaller state and focused on efficiency and cost-cutting more than growth and dynamism. And that will have a big impact on Houston's growth and dynamism.
The new "war on plastic" isn't going to help over the long run either (I wouldn't expect much impact from that in the near to middle term).
No one can deny the enormous benefit to Houston that has come from being the world capital of a critical global industry. The issue is that industry has limited or no long term growth prospects. What has been the primary source of Houston's dynamism will now (well, once the current disruption settles down) be a force for stability instead.
I'm not claiming that traditional O&G is going away or that Houston will no longer be its world capital. (Who in the world would ever think Dubai could become a world energy capital?)
Back in the late '00s, Dubai was the hot spot. Celebrities were flocking to it to boost the emirate's PR visibility (on the eve before Instagram). The Burj Khalifa--still the tallest building in the world--was under construction. The Palm Islands were under construction, with one development already completed earlier in the decade. The elite were flocking to it, artificially boosting its profile on the global stage.
Then a panic set in when Halliburton (who had just relocated its HQ from Dallas) announced a shift to Dubai.
The buzz fizzled when its reputation of Las Vegas-style tolerance to Western tourists extended Islamic norms common in that part of the world under pressure from the Islamic Right.
Then the Arab Spring destabilized the region in 2010. Any hope of democratization or Enlightenment values in the Middle East were crushed when fascists and Islamic Fundamentalists took the reins by promising stability and order and ended the crisis within a couple of years.
Quote:
Originally Posted by LocalPlanner
I just think that without some sort of major technological or structural change on which it can capitalize, it has entered a prolonged and likely permanent period of stagnation. It will likely emerge from the current market disruption in a smaller state and focused on efficiency and cost-cutting more than growth and dynamism. And that will have a big impact on Houston's growth and dynamism.
After the 1980's oil bust, those empty skyscrapers in DT and around town were filled again (and new ones sprouted within the past decade starting with BG Place) and the abandoned residential and commercial projects were eventually built or replaced (with some changes/improvements). Houston has grown 3x since then. It's going to perform above average within the U.S.--not going to be Detroit or other Rust Belt city soon. Houston is actually receiving the bulk of direct immigration; in the past, most foreign-born people relocated to Houston from another--usually coastal--American city.
The lack of growth and dynamism comes from the U.S. (and the Western World) in general is on the decline; not solely attributable to a decline of Houston. The Coronavirus has exposed the decline by emptying grocery stores into Venezuela circa mid-2010's, showcased the failure of Western medicine, and households are wondering how we can defend ourselves without disinfectant, hand sanitizer, and (the eventual) soap outage.
Back in the late '00s, Dubai was the hot spot. Celebrities were flocking to it to boost the emirate's PR visibility (on the eve before Instagram). The Burj Khalifa--still the tallest building in the world--was under construction. The Palm Islands were under construction, with one development already completed earlier in the decade. The elite were flocking to it, artificially boosting its profile on the global stage.
Then a panic set in when Halliburton (who had just relocated its HQ from Dallas) announced a shift to Dubai.
The buzz fizzled when its reputation of Las Vegas-style tolerance to Western tourists extended Islamic norms common in that part of the world under pressure from the Islamic Right.
Then the Arab Spring destabilized the region in 2010. Any hope of democratization or Enlightenment values in the Middle East were crushed when fascists and Islamic Fundamentalists took the reins by promising stability and order and ended the crisis within a couple of years.
After the 1980's oil bust, those empty skyscrapers in DT and around town were filled again (and new ones sprouted within the past decade starting with BG Place) and the abandoned residential and commercial projects were eventually built or replaced (with some changes/improvements). Houston has grown 3x since then. It's going to perform above average within the U.S.--not going to be Detroit or other Rust Belt city soon. Houston is actually receiving the bulk of direct immigration; in the past, most foreign-born people relocated to Houston from another--usually coastal--American city.
The lack of growth and dynamism comes from the U.S. (and the Western World) in general is on the decline; not solely attributable to a decline of Houston. The Coronavirus has exposed the decline by emptying grocery stores into Venezuela circa mid-2010's, showcased the failure of Western medicine, and households are wondering how we can defend ourselves without disinfectant, hand sanitizer, and (the eventual) soap outage.
Houston benefited from the fact that in the 1990s, the O&G industry consolidated here, which made sense because (1) Houston had the greatest concentration of intellectual capital in the industry and (2) had the best airport, compared to other U.S. and Canadian energy cities. Proximity to the downstream facilities (refining and petrochemicals) of the vertically integrated companies probably didn't hurt either. Basically we stole the O&G industry of other cities like Tulsa, New Orleans, and even DFW (despite Exxon keeping its actual HQ in Irving and a good airport).
At this point, the anticipated O&G industry consolidation is only going to serve to shrink the industry in Houston.
While O&G is still the big dog economically hereabouts, yes, Houston does have an important economic connection to the world economy. I wonder if Houston is better adapted to capitalize on the opportunities that could come from China becoming a true co-equal superpower (already nearly is economically, looks headed that way politically and even militarily) with the U.S.? Please don't interpret this statement as my personal support for the China model - just recognizing that it has in many ways worked for them.
Not an excuse. You can certainly pick your job over the location, but still complain about the things you dislike about the location. That is a choice too.
This is very true. I am in my late 30's with a family and have lived in about a dozen different cities across the country. I'd put Houston in the bottom of the middle group, but like my job enough (and it's stable enough) that I wouldn't take the risk to move at this point. With that said, if I were to lose my job I'd almost certainly move out of the area to find a new one.
That's not to say I hate Houston or that there aren't things I love about it, but the weather really is miserable for half the year. For what it's worth, I like living here more than I liked Phoenix or Southern California, but I'd put it below Tennessee and North Carolina (and a few notches below Fort Worth, but above Dallas).
This is very true. I am in my late 30's with a family and have lived in about a dozen different cities across the country. I'd put Houston in the bottom of the middle group, but like my job enough (and it's stable enough) that I wouldn't take the risk to move at this point. With that said, if I were to lose my job I'd almost certainly move out of the area to find a new one.
That's not to say I hate Houston or that there aren't things I love about it, but the weather really is miserable for half the year. For what it's worth, I like living here more than I liked Phoenix or Southern California, but I'd put it below Tennessee and North Carolina (and a few notches below Fort Worth, but above Dallas).
Just my two cents.
Lol...the weather is miserable in TN and NC the majority of the year. It’s “cold” in the winter, and hot and humid in the summer, just like Houston, albeit a “few” degrees cooler. The coast of NC is hurricane prone too. Maybe (a big one) you could pay me enough to live in Charlotte, Nashville or Chattanooga. I’m not living in Ft Worth under no circumstance including money.
I’d never live in a city I didn’t completely like for a job. That’s not living in my opinion. I don’t like feeling trapped. I’d start my own company and live where I want. Different stokes for different folks. #livelifewithoutboundaries
Just my two cents...start a business and move to TN or NC and be completely happy while you’re somewhat young instead of waiting to retire or potentially losing your job.
This is very true. I am in my late 30's with a family and have lived in about a dozen different cities across the country. I'd put Houston in the bottom of the middle group, but like my job enough (and it's stable enough) that I wouldn't take the risk to move at this point. With that said, if I were to lose my job I'd almost certainly move out of the area to find a new one.
That's not to say I hate Houston or that there aren't things I love about it, but the weather really is miserable for half the year. For what it's worth, I like living here more than I liked Phoenix or Southern California, but I'd put it below Tennessee and North Carolina (and a few notches below Fort Worth, but above Dallas).
Just my two cents.
Some people truly don’t get this. When you have a family especially in your late 30s and a stable job you can’t just up and leave when you feel like you’ve outgrown a city. When you’re single it’s much easier to do that.
Lol...the weather is miserable in TN and NC the majority of the year. It’s “cold” in the winter, and hot and humid in the summer, just like Houston, albeit a “few” degrees cooler. The coast of NC is hurricane prone too. Maybe (a big one) you could pay me enough to live in Charlotte, Nashville or Chattanooga. I’m not living in Ft Worth under no circumstance including money.
I’d never live in a city I didn’t completely like for a job. That’s not living in my opinion. I don’t like feeling trapped. I’d start my own company and live where I want. Different stokes for different folks. #livelifewithoutboundaries
Just my two cents...start a business and move to TN or NC and be completely happy while you’re somewhat young instead of waiting to retire or potentially losing your job.
But how old are you and are you married with children?
People stay places where they are miserable for the sake of their kids all the time. Its at that point you cant just get up and leave.
After a while, you get used to the miserable weather and dress accordingly. You don't have to like the heat and humidity that persists for most of the year, but I think you learn to deal. I will say that Houston doesn't have anything on the heat & humidity of Phoenix. At least in Houston, we get mild winters and occasional cold spells.
After a while, you get used to the miserable weather and dress accordingly. You don't have to like the heat and humidity that persists for most of the year, but I think you learn to deal. I will say that Houston doesn't have anything on the heat & humidity of Phoenix. At least in Houston, we get mild winters and occasional cold spells.
I wouldn't describe Phoenix as "humid" - it's just HOT. My analogy is this: summertime in Houston is a sauna, summertime in Phoenix is an oven. Pick your poison.
Lol...the weather is miserable in TN and NC the majority of the year. It’s “cold” in the winter, and hot and humid in the summer, just like Houston, albeit a “few” degrees cooler. The coast of NC is hurricane prone too. Maybe (a big one) you could pay me enough to live in Charlotte, Nashville or Chattanooga. I’m not living in Ft Worth under no circumstance including money.
I’d never live in a city I didn’t completely like for a job. That’s not living in my opinion. I don’t like feeling trapped. I’d start my own company and live where I want. Different stokes for different folks. #livelifewithoutboundaries
Just my two cents...start a business and move to TN or NC and be completely happy while you’re somewhat young instead of waiting to retire or potentially losing your job.
My family is happy here and I can provide for them very well, and at this stage of my life that’s all that I really care about.
And I loved the weather in NC. You had 4 relatively mild and short seasons. It’d snow 2 or 3 times every year but wouldn’t stick around. It was hot and humid for 2 months instead of 5. You got a true fall and spring that lasted 3 months each and not 1.5 or 2 if you’re lucky. You had mountains, you had beaches with nice water. It was great, and Eastern Tennessee much the same. The job prospects for me weren’t the same as what I could do here in Houston, and I’m more than happy to make some sacrifices to provide for my family. I'll also add that I really like my job, which is a huge factor in staying here. While I might like to live in NC more, there's a very good chance my happiness would decrease as odds are I wouldn't enjoy the job as much as the one I have. It's all about gives and takes.
Like I said, I don’t hate it here and there is a lot to like, but it’s far from a utopia and as soon as the Houston economy starts diving there isn’t a whole lot to draw people in to build
it back up. California will always have the weather, Seattle will always have the scenery, the east coast will always have the history and culture. There are some
cities that will always thrive just because they have inherent advantages. Houston’s biggest advantage has always been its cost of living vs. wages. If that ever changes it will take a long time to recover.
Last edited by Texascrude; 03-31-2020 at 05:29 PM..
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