The Hammer and Nigel Show
Hurricane Harvey's Impact On Indy Economy
As we watch the horrifying images coming out of Houston. We take a look locally as how Hurricane Harvey will affect the economy in Indianapolis. We speak with Dr. Mike Hicks, a professor of economics at Ball State University as well as the Director of the Center of Business and Economic Research at Ball State University.
“Expect an interruption of fuel supply. You’ll see gasoline prices 30, 60 maybe 75 cents higher per gallon in the month of September. The oil and natural gas industry is basically based in Houston. Nothing can stop a disruption of workers who can’t get to work.”
Another big issue is the closure of the Port of Houston. Dr. Hicks explains why the port is so important to businesses across the country.
“It is the pipeline port for almost all fuels in the United States. Every major chemical producer in the world has a location is Houston. Things like packaging for fresh fruit and anything that has plastic in it. That’s all going to be affected by the closure of the port of Houston. “