Word: fehrenbach
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Dates: during 1980-1989
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...moving toward a service economy. For all the lore of cattle and oil, the action in Texas today is more likely to be found in medical research, in computer and space technology. "Texas society is changing profoundly in the same way that all American society is changing," says Historian Fehrenbach. "Texans are beginning to earn a living more in the fashion of other Americans." The state must diversify its economy even more than it already has. Texas may ultimately be redeemed by the kind of people it has always attracted. The dilemma, in part, is how to preserve...
...regions, from Texas and Oklahoma to Wyoming and Alaska, exploded. The frantic growth fed on itself: in Tulsa, Houston and Denver, skylines seemed to sprout overnight. The new wealth was intoxicating, making giddy millionaires out of young geologists, and inspiring dentists to become oil barons. Says Texas Historian T.R. Fehrenbach: "Oil was a big hot flash of money...
...those citizens of the oil patch with long memories, boom and bust cycles are as natural as Texas tumbleweeds and summer windstorms. What is different about the current collapse, though, is the speed with which it struck. Says Historian Fehrenbach: "Nothing in the past has come on as fast as this." For the moment, then, people can do little more than hold on, hoping that the cycle will one day turn again...