Drill Baby, drill

Oil has been back around 70 dollars a barrel and that's great news for the drilling industry and the Houston economy.

Energy analyst Phil Flynn says happy days are here again.

"The U.S. oil industry is back, it's bad, it's going to be better than ever and it's going to be a great thing."

Flynn says rising demand for energy is a good thing because it shows Americans are getting out and doing more.

"The rising price of oil is really a reflection of a booming economy."

When drillers are back in business, the workers buy homes and spend more money overall in the Houston economy. Flynn says he expects gasoline to stay under three dollars a gallon in Texas.

He says we should be thankful for the amount of hybrid and fully electric vehicles on the road.

"Could you imagine if we didn't have those hybrids right now? There'd be a lot more consumption. So it's a good thing we have them or gasoline prices would probably be at $3.50 a gallon already."

Flynn says at nearly 70-bucks a barrel, the drilling industry should be able to thrive and the demand for fuel is high because the economy is so strong.

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