Bauer Business Focus

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Joseph Pratt | December 30, 2011

Published on December 26, 2011

“This year, we’ve seen evidence from many directions of what could become almost the evolutionary change in energy supply,” said Joe Pratt, NEH Cullen Professor of History and Business at the University of Houston.

On Bauer Business Focus — A conversation reviewing the year in Houston business with Andrew Schneider, business reporter for KUHF 88.7 FM.

As Houston looks to close the books on 2011 and welcome 2012, business analysts and experts are reflecting on the topics and trends that have dominated talk and made headlines across the city. For many, it comes down to one word — energy.

Joseph Pratt, Cullen Professor of Business and History at the University of Houston, joined Bauer Business Focus recently to talk about what may go down as one of the most transformative years in Houston energy.

“This year we’ve seen evidence from many directions of what could become almost the evolutionary change in energy supply, and it touches all phases of Houston energy,” Pratt said.  “There’s a growing indication that there are domestic reserves that we can develop at acceptable costs that might allow us to become significantly more independent of global energy trends.”

Both consumers and businesses are now looking to 2012 with hopes of furthering the nation’s economic recovery. Local oil and gas could play a big role, Pratt said, but financial instability in other parts of the world will also factor in.

“There are really good trends lately about a general recovery in 2012 in oil and gas, which is particularly in Texas and in Houston. Those are good signs, but when you open up the newspaper and read about Europe and the euro crisis, it’s a scary time to imagine that we’re going to move to onward and upward growth and on to prosperity because there’s a lot of things that can potentially stop that.”

Click here to hear the full interview.

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