Economist: Texas Economy Can Withstand Drop in Oil Price

BBVA Economist released a new report. OPEC is worried. Texas is not. Texas economy is more diverse than it was in the 1980s. A quote from the economist: 

“Today there are striking differences with the 1980s – when Texas suffered one of the worst recessions ever – which suggest that the downside risks are relatively contained…For example, greater economic diversification, increased trade openness, regional and national bank financing, and absence of a real estate bubble, to name a few.”

[Dallas Morning News BizBeat]