Oil prices falling in Houston Every economic situation in any country makes a huge influence in the world, sometimes in some specific cities. In Chapter 1, 2. 4, 5 of macroeconomics we can see the importance of trading markets, the price controls of the products and the principles of the economy of a country. Economy includes the wealth and variety of products a country has, especially in terms of production and consumption of those goods. An example of this goods is oil. Oil has been really important for society. This resource is essential in the industrialized nations. It can generate energy, gasoline for vehicles, plastics, medicines, and some other products. Basically, almost everything we use in a daily basis. Houston is a country rich in oil. Everything started with the Texas oil boom, also known as the Gusher Age (1895-1945), with the discovery of a large petroleum reserve near to Beaumont Texas. Texas never thought this discovery would be a massive opening for an oil age, and that it would help them to later consider the heart of America’s energy. …show more content…
It also enables exchange beyond the energy industry and exploration of opportunities for mutual development in a variety of strategic areas such as energy-related technology, education, food processing and marketing, environmental technology, medicine and bio-science, and tourism development. Houston’s representative is the mayor Annise D.Parker who has been working to keep Houston one of the most important oil producer city. Houston is so dependent to oil for many reasons: it gives real high wages to some employers, high real estate values and vice versa, employment and economy in