Word: houstonic
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...happened, Bailey had a friend in Texas named Patrick Oxford, managing partner of an old Houston law firm called Bracewell & Patterson. And Oxford had a problem. He could see that the future was bleak for regional law firms in a globalizing economy. Expanding the firm, especially into Manhattan, had become a matter of life and death, Oxford later recalled...
...Just look at other major players in Texas oil. Many Houston companies and law firms have already boosted their Middle Eastern presence, including Halliburton's business rivals, Baker Hughes and Schlumberger. Baker Hughes is building a regional headquarters and manufacturing center in the UAE and Schlumberger has a training center. Just one day after Lesar's announcement, Texas Gov. Rick Perry announced he will attend a three- day celebration marking the opening of permanent buildings at the Texas A&M University at Qatar, set to graduate its first engineering class in 2007 - evidence that the oil and gas industry will...
...Many of the city's oil and gas companies have a long symbiotic relationship with the Middle East. Indeed, Emirates Airline announced last month that it would set up daily direct flights between Dubai and Houston by the end of this year. The flights will utilize several of the Emirates' 44 recently purchased Boeing 777s and will come equipped with eight private first-class cabins. But that still places top energy executives 17 hours away from what is becoming the new center of the oil industry. Lesar's move shows Halliburton is aware of business customs in much...
...While the Gulf of Mexico remains a vital area for exploration, the shift eastward means the old Energy Capital must diversify. "A lot of us in Houston have been saying that the energy industry in Houston needs to be a lot more innovative," Jaffe said. Energy industry and political leaders are beginning to develop wind energy offshore in the Gulf, and look to other alternatives. From now on, the "bidness" discussions at the Petroleum Club are more likely to focus on new energy technologies like carbon sequestration than wildcatting...
...first thing Halliburton chief executive David Lesar would need upon re-locating from Houston to Dubai, is a place to live. That won't be easy to find, even with a Texas-sized wallet - when it comes to property bonanzas, Dubai is a 21st century version of the California Gold Rush...