Do you believe the production decline and imports increase are our “normal” economic position?
I’m not sure how to respond
The large production increases were a change from “normal” and time will probably tell, disruptive to the status quo all around the world. I am not familiar with the current level of imports so can’t say much on that subject.
I was speaking of my perception of jobs in Texas. The number of jobs increased as the drilling increased and people came to fill them. That includes payroll clerks and waitresses and a host of other work that was tied to the boom. A fourth or fifth waitress or another cook at a Bar B Que place in Monahans is no longer required when the workers in the field are gone
I can’t say much about production decrease. That is a different and seemingly very complex animal. I expect some of the smaller companies will fall on hard times, but somewhere in Texas there is someone more than willing to buy their holdings.
The only constant is change but the rate seems quite variable.