The Oil And Gas Industry

1285 Words Nov 4th, 2015 6 Pages
Houston, which is the fourth most populous city in the nation and the largest in the southern U.S. and Texas, has been developing strong economy, especially in oil and gas industry. During the last decades of the twentieth century, Houston focused on developing energy industry—which comprises oil and gas exploration and production, oilfield equipment manufacturing and wholesaling, and pipeline transportation. However, some economists doubt that depending on oil and gas too much could make Houston particularly vulnerable to economic downturns determined by energy prices, the national economy, and the value of the dollar against foreign currencies. In fact, oil and gas have driven the Houston economy and been responsible for 50% of the jobs related to the export of goods and services outside the area. This research focuses on analyzing some factors including the incentive programs (local and state policies about taxation) and state organizations including the Texas General Land Office and the Texas Railroad Commission as contributions to regulate and organize oil and gas industry in order to develop Houston economy healthily and prosperously. Besides that, facts and figures from secondary resources are showed as achievements of Houston in developing economy depending on oil and gas industry. Clearly, thanks to state and local policies and programs as well as these state organizations in oil and gas industry, Houston is a potential economy region whose economy is growing faster…

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