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You have to be careful where you are when the boom ends. Dallas weaned itself off oil money in the late 80s/early 90s; ExxonMobil's headquarters is the only ma
by vonmoltke 12y ago
You have to be careful where you are when the boom ends. Dallas weaned itself off oil money in the late 80s/early 90s; ExxonMobil's headquarters is the only major holdout. It turned itself into a headquarters town, and is now turning itself into America's datacenter and a minor tech hub. Austin has entrenched itself as a second-tier tech hub. San Antonio is a major Air Force tech hub. Houston, while awash in oil money, has non-oil shipping, finance, and NASA. Only west Texas is so dependent on oil that an oil bust would be a major economic calamity.