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SME Series: Oil Prices and their Impact on Texas Economy


On Thursday, March 24, 2016, the Bilateral Chamber of Commerce, in partnership with the American Turkic Business Council & Texas Turkish American Chamber of Commerce, hosted a luncheon with Ron Higgins, who provided an outlook on the future of oil prices and the impact on the local and regional economy.

Higgins predicted that despite continued layoffs into 2016, global oil demand will increase by 25% in 2040, citing an ExxonMobil study. In addition, Higgins assured attendees of the oil industry’s continued significant prominence as an energy source.

Higgins is the Vice President of World Oil. He received a Bachelors of Business Administration degree from the University of Houston. He has worked for a drilling contractor firm, an independent oil and gas producing company, sold drilling and production equipment for a major oilfield equipment manufacturer, and worked for the Oil & Gas Journal for several years prior to joining World Oil. He is a member of the Society of Petroleum Engineers, International Association of Drilling Contractors, Independent Petroleum Association of America, and NOMADS.

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