Everyone “Benefits” From Oil And Gas

By Cheval John

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Photo Courtesy of Art Institute.edu[/caption]
 Houston has it advantages and disadvantages of being the energy capital of the world.

One of the advantages is being the location of 26 Fortune 500 companies behind New York City.

The other advantage is being the host of the 35th annual IHS CERA Week at the Hilton-Americas Houston hotel in downtown Houston.

The conference brings together executives, policymakers and government officials from around the world to discuss about the future of energy and the inconsistencies of the oil and gas industry.

One could say that this conference was timely because of the drop in price for oil in recent months.

Some quotes from the conference on Twitter includes:

Al-Qahtani: @Saudi_Aramco has Increased R&D funding by 60% in last 3 years #CERAWeek #IHSCERAWeek
— Valerie Jones (@rz_careernews) February 23, 2016
Energy Quote of the Day, 23 February 2016 https://t.co/elsnIid1UO @IEABirol #OilMarkets #CERAWeek pic.twitter.com/EisjuK7wA9
— IEA (@IEA) February 23, 2016
BP’s Lamar McKay: we must adapt rapidly and aggressively. We can do it, we will do it, we’ve done it before #CERAWeek #oilandgas
— Nikki Bishop (@_NikkiBishop) February 23, 2016

For the ordinary consumer, this would be seem to be like great news because of the low cost of gasoline in most of the USA.

They would believe that they deserve a huge break after the years of paying high prices for gasoline.

What they fail to understand is that the recession in the oil and gas industry have an indirect effect on other industries as well.

Case in point, Houston.

The Bayou City had grown over the years due to the oil and gas industry.

Marcellius Foster, a former resident of Huntsville, Texas, became wealthy due to his investment in the discovery of oil at Spindletop and founded the Houston Chronicle in 1901.

And when the recession hit most of the country, Houston was able to offset the recession because the oil and gas was able to boost up their local economy.

And over those years, those who become millionaires due to the oil and gas industry gave the city of Houston their own respective sports teams like the Houston Astros (1962), the Houston Oilers (now Tennessee Titans,) the Houston Rockets (1971) and the Houston Texans (2002).

But when the oil bust happened in the late 80s, Houston felt the worst of that failure because the majority of their economy was in the oil and gas.
 And though Houston has diversified their economy since the oil bust, businesses will still experience the sting of the oil and gas industry indirectly.

An example would be the restaurants and coffee shops.

And when most of the employees gets laid off from most of the Fortune 500 companies due to the current recession in the oil and gas, it affects them because they cater to these same employees.

So in the long run, everyone is affected by the oil and gas industry.

And if they want to avoid the affects of the oil and gas industry, they will have to build a strong online presence by sharing valuable content through their blogs, podcasts, video etc. about their expertise in the oil and gas industry.

They will also have to be as transparent as possible and participate in group chats on social media platforms.

Because when they have a strong network that they built while they were working in the oil and gas industry and have a loyal audience through social media, they will have a 80% chance of gaining work whether as an employee or an entrepreneur when the layoffs happened to them.

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