Why Houston's prospects for recovery look good, unlike some cities'

For hundreds of thousands of Texas homeowners, and small businesses facing an uncertain future, there is a silver lining. The nation needs Houston, its workers, and its economy.

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One third of the US gasoline supply is refined there. Many fuel pipelines that pump industry’s life blood emanate from the Texas gulf coast. “So there’s a lot at stake in terms of getting it back up and running,” says Glen Hall, U.S. Editor at the Wall Street Journal.

“The port in Houston is a very, very big deal, says Brian Brenberg, Chair of the Program in Business and Finance at King’s College. “It accounts for $250 billion-plus of economic activity across the state of Texas and beyond every year. Texas itself is a big deal. Almost 10 percent of U.S. economic output is coming from Texas,” he says.

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