Oil prices Monday fell below 50 dollars a barrel for the first time since 2009. That’s a drop of more than 55 percent since June. Sure, gas prices are low, but in a city like Houston, where the oil and gas industry is such a strong economic driver, plunging oil prices are met with hand-wringing. If weâre saving at the pump, whoâs losing? And what does it mean in the long run for the rest of us in Greater Houston?
Today, we consider the winners and losers of low fuel prices. From the oil and gas industry, to industries and communities most strongly impacted by the petrochemical industry, to consumers at the pumps, to real estate, to non-profits who benefit from corporate donations, and beyond. Is it, ultimately, good or bad for Greater Houston when oil prices drop this much this fast?
We welcome your questions and comments for Richard Stubbe, Houston Bureau Chief and Editor on Energy Markets for Bloomberg News, energy communications consultant A.D. Koen, and Christopher Ross, Executive Professor of Finance at the University of Houston’s Bauer College of Business and past chairman of the oil and gas policy subcommittee of the Greater Houston Partnership.
