August 21, 2015 – Houston Chronicle
Oil's latest milestone means another setback for Houston
By Robert Grattan and Rhiannon Meyers
U.S. oil fell below $40 per barrel for a time Friday, and U.S. stocks fell sharply for the second straight day as China's slowing economy reverberated across the globe.
The drop in oil prices continues to shake the Houston economy, portending more layoffs and budget cuts as analysts say there's no sign of a quick turnaround. Oil and gas companies hoped they had found price stability earlier this year...