>> You’re watching channel to
Houston
EYE IS NO SECRET COVID-19 PUT
OUR ECONOMY IN A SERIOUS CRUNCH
MORNING THE HARDEST HIT, OIL AND
GAS.
>> YEAH THE OIL AND GAS INDUSTRY
HAS BEEN THE HARTE AND SOUL FOR
DECADES ACCORDING TO ONE
INDUSTRY GROUP, NEARLY 361,000
TEXANS WORKED IN THE OIL AND GAS
INDUSTRY JUST LAST YEAR, BUT
THIS YEAR, THAT NUMBER HAS
FALLEN, TO 321,000.
THAT IS ABOUT 40,000 JOBS LOST
OR ROUGHLY 1% OF THE PREPANDEMIC
WORK FORCE.
BUT THERE IS A HOUSTON COMPANY
AIMING TO TURN THINGS AROUND.
CHANNEL 2 CONSUMER INVESTIGATOR
BILL SPENCER LIVE IN DEER PARK
TONIGHT WITH MORE ON THIS.
BILL?
REPORTER: KRIS AND CHRISTINE,
THE REFINERIES LIKE THE ONE HE
SEE BEHIND ME ARE THE LIFE BLOOD
AND THE ECONOMIC EN GIGS OF OUR
CITY.
WE KNEW THINGS WERE BAD EARLIER
THIS YEAR WHEN OIL PRICES WENT
NEGATIVE ANOTHER FIRST TIME EVER.
BUT NOW, ONE TEXAS COMPANY IS
BETTING RIGHT NOW, IT IS THE
RIGHT TIME FOR REBOUND.
>> IT HAPPENED FAST, OIL PRICES
CHANGED WITH COVID-19 AND
PLUMMETS IN THE NEGATIVE
TERRITORY, THOUSANDS OF OUR
FRIENDS AND NEIGHBORS WERE LAID
OFF.
>> THE OIL FIELDS CRASHES LIKE
THIS HAS BEEN DRAMATIC FOR FOR
MOST FAMILIES.
>> EVEN THOSE FAMILIES THAT WERE
SPARED.
>> LIVING EACH DAY ON EDGE.
NOT KNOWING WHAT WOULD COME
NEXT.
>> IT WAS REALLY TOUGH ON HIM.
THEN, THE PRICES JUST DROPPED WE
FROM SO SCARED.
>> JUST SIX MONTHS AGO, VALERIE
MOVED WITH HER HUSBAND AND TWO
CHILDREN FROM SAN ANTONIO TO
CAUGHT TY, HER HUSBAND’S OIL
JOB.
>> HIM HAVING TO WORRY ABOUT THE
JOB AND IT BEING SECURE, AS BEEN
STRESSFUL ESPECIALLY WHEN YOU
BOUGHT A NU HOUSE AND LOCATED
THE ENTIRE FAMILY.
>> THE FAMILIES WHERE JUST SET
LINING NEW HOME WHEN VAL RY
FOUND HERSELF UNEMPLOYED AS
WELL.
>> IT WAS SO MUCH THAT WENT,
THAT WENT WRONG, SO FAST.
>> BUT NOW, CHANNEL 2
INVESTIGATES HAS LEARNED ABOUT A
BRAND-NEW PROJECT IN THAT EX
PUMP NEW LIFE AND JOB HAS TO THE
ENERGY INDUSTRY AND INTO THE
LOCAL ECONOMY.
>> IT IS ROUGH, WE GOT 1,000 NEW
JOBS CREATED.
REPORTER: HOUSTON RECENTLY INKED
A DEAL ATH THE PORT OF CALHOUN,
SOUTH OF HOUSTON HALFWAY TO DORR
PUSS CHRISTIE THAT COULD BE
WORTH $1 BILLION.
THE COMPANY WILL BE CONNECTING
THREE PIPELINES ACROSS THE STATE
EXPORTING THAT OIL OUT OF THE
PORT BRINGING NEW JOBS TO THE
REGION.
WELL, A LOT OF THE PEOPLE THAT
WE ARE HIRING A ARE IN HOUSTON.
REPORTER: THIS PROJECT WILL
REQUIRE ENGINEERS AND
CONSTRUCTION WOE, FAN ALL GOES
WELL AND ALSO MEAN A GREATER
NEED FOR HOTELS AND RESTAURANTS.
IN BOTH CALHOUN AND JACKSON
COUNTY.
>> BUT IS NOW THE RIGHT TIME OR
IS IT AS ARE CAN I MOVE A.M.
WE’RE BUILDING WHEN THE ECONOMY
IS DOWN BECAUSE AT SOME POINT,
IT IS GOING TO COME BACK UP.
>> ACCORDING TO ONE EXPERT AT
TEXAS SOUTHERN UNIVERSITY.
THAT COULD BE SEVERAL YEAR WAYS.
>> WELL, WE HAVE A RECOVER
FRIDAY NOW ON.
IT WOULD BE MODERATE RECOVERY
AND IT IS GOING TO TAKE MAYBE
TWO OR THREE YEARS FOR THE DAY
TO GO BACK TO THE PRECOVID
LEVEL.
>> THE DRIS ASSOCIATE DEAN AT
TSU SCHOOL OF BUSINESS.
HE FIRES NOW.
THE MARKET HAS STABILIZED.
ANDS SO HATS THE MAY LAYOFF BUS
TO RECOVER, THE MAN WILL HAVE TO
PICK UP WORLDWIDE.
>> THE GLOBAL COMMUNITY SO ALL
THE OTHER COUNTRIES HAVE TO DO
WELL IN ORDER FOR TO IT GO.
AS FOR VALERIE, SHE IS NOW MORE
AT WEISE THE FAMILY’S FUTURE AND
LOOKED TO COVID SHUTDOWN AND THE
STRESS ON HER FAMILY HAS REALLY
BEEN A BLESSING INDIES SIGHS.
REALLY, REALLY STRENGTHENS
FAMILIES WHERE WE DIDN’T EVEN
KNOW BRE WEAK.
WERE REPORT FROM WOULD YOU LIKE
TO KNOW ABOUT THE PROJECT
UNDERWAY RIGHT NOW AT PORT
CALHOUN, GO TO OUR WEBSITE,
CLICK 2 HOUSTON.COM AND CONNECT
WITH YOU THE COMPANY IN CASE ARE
INTERESTED IN TRYING TO APPLY
FAR JOB AND WE GOT LISTENS TO
THE COMMISSION WHICH RIGHT NOW
DOES INDEED HAVE HUNDREDS OF OIL
AND GAS JOBS OF AVAILABLE.
REPORTING LIVE IN DEER PARK,