Texas will have some insulation against the economic storms that may result from the fighting in the Middle East, but the economy of the United States is strong and is positioned to handle the rough waters of increasing oil prices.
That's why the current rise in the prices of oil does not mean economic disaster, despite what doomers and gloomers say, one expert says.
That's the takeaway from this week's news of continued fighting between Iran and the US and Israel, according to Ginn Economic Consulting's Vance Ginn, because not only oil and gas but also most other commodities are tied to worldwide markets.
And it's those ties that are likely to make the economic pain even worse if price increases and shortages appear in nations all over the world, but it's not going to be as bad in America as in other countries.
Ties among worldwide distribution systems means that when more than one portion of the system breaks down, the whole system breaks down -- but American stocks and bonds markets are strong, even if the Federal Reserve decides not to lower interest rates, he says.
"I certainly think that is on the table, that the Fed may raise interest rates before they'll have any chance to cut interest rates.
"And I still think you'll see higher inflation, which could mean higher interest rates as opposed to lower interest rates."