Posted on 09/23/2014 8:05:01 AM PDT by thackney
U.S. energy exports, much of which come from the Houston region, represent a large chunk of the nation's overall export growth in the coming years, according to a new national HSBC Bank USA report.
The banking report notes that Houston will see an additional job creation surge going forward partially because of energy exports that target emerging foreign markets.
HSBC specially mentions that "chemical plant expansions and liquefied natural gas terminal upgrades, coupled with the opening of Mexico's energy industry to foreign investment, will result in a new export boom for Houston and will create more than 55,000 new jobs."
The bank's forecast projects that "rapidly rising" oil and gas production from unconventional techniques will lift U.S. energy exports by 5 percent annually through 2030. Petroleum imports will dip from 12 percent to 7 percent long term, the report adds.
"Emerging markets that don't have refining capabilities or didn't dispose of energy reserves could represent a major opportunity for U.S. energy exporters," said Derrick Ragland, HSBC executive vice president and head of U.S. middle market corporate banking.
Overall — energy included — the report contends that China and India represent the nation's top trade partners, with U.S. exports growing by 9 percent a year to each country through 2030.
Yeah, but it is still Houston...
I know. Balancing commute time with home location has long been a frustration.
Off shoring our jobs and our resources to the benefit of foreign production.
It’d be nice to see fuel costs go down in spite of Obama’s agenda.
While we are close to the coast, Houston Texas is not offshore. This is talking about a rise in US jobs.
Would you like it better if this product was supplied by an OPEC nation? Would that be in our best interest?
At the same time, our petrochem domestic manufacturing is growing for the same production growth reasons.
It was sporting of you to help orient the thinking of the correspondent in Post No. 4; however, it appears what little he/she may know about the energy business (domestic, international or otherwise) is limited to what they see on the front of a gasoline pump.
We are shipping it to China and India for their industrial needs.
And the whole OPEC thing, people say “boycott them”, other countries (including Europe, China, and India) are going to buy them anyway.
I say eradicate the Islamonazis in the Middle East and then we don’t have to worry about fuel dollars funding international terrorism.
We like others to think we are just a bunch of backward, red neck, dumb hicks. Keeps the riff raft out!
Houston is also one of the Top 10 Most Diverse Cities in America
Houston is such a diverse city that it has one of the highest concentrations of consulates in the U.S. There are more than 1 million residents here who were born outside the U.S. Many are from Mexico, though there are roughly 90 languages spoken here. According to the latest census, nearly 35 percent of its population is Hispanic or Latino and nearly 17 percent is African American. And, while less than 6 percent of the population is Asian, the city is rich with Asian culture, including two Chinatowns, a Little Saigon and a “Little India.” It has a colorful arts and music scene featuring rock, blues, country and a growing hip-hop scene. There are several festivals here each year, including the Houston Livestock Show and Rodeo, a Greek festival and a Bayou City art festival.
Having lived in the Mid West, East Coast and the Southern States plus traveled to almost every state in America; Houston is the friendliest area I have ever found!
“Houston is also one of the Top 10 Most Diverse Cities in America”
Not necessarily a good thing.
Not necessarily a good thing.
Not as bad as you may think and of course we are not Austin!
Think of how many jobs there would be in addition to those 55,000 stateside if we weren’t shipping it to Mexico for their energy industry. We can produce energy too. And we have needs for it.
Lower energy cost and our production costs go down. Buying more Chinese junk isn’t going to improve our economy.
That is a plus. I wouldn’t wish that on any city.
Some yes. And other locations. Those locations are going to purchase on the open market. Why do you want them to buy from someone else?
And the whole OPEC thing, people say “boycott them”, other countries (including Europe, China, and India) are going to buy them anyway.
Absolutely. Oil, NGLs, propylene, other petrochemicals are fungible. Shutting down our exports just pushes those jobs to other countries to supply.
I say eradicate the Islamonazis in the Middle East
A different topic, but do imagine we would ever go to war to the complete removal of those populations?
So we refine more crude oil than we need ourselves. We ship gasoline and other products to them, keeping more jobs and a better trade balance. Do you agree this is a good thing?
http://www.eia.gov/dnav/pet/pet_move_expc_a_EPOBG_EEX_mbblpd_m.htm
http://www.eia.gov/dnav/pet/pet_move_expc_a_EPM0F_EEX_mbblpd_m.htm
http://www.eia.gov/dnav/pet/pet_move_expc_a_EPD0_EEX_mbblpd_m.htm
My solution .... consulting for Big Oil from the comfort of my study.
I haven't been into the "office" since before Thanksgiving ... unless you count the two team lunches I went to at Morton's.
Life is good in Eggman World®
Fungibility
A rising tide...
Like it or not we are all in the same marketplace.
I know some Petroleum Engineers doing that. I’m a sparky.
I get to work some from home with the current company. But I currently do enough short notice construction support that they want me mostly at the office.
The wife and I were just discussing how we could make a longer distance work to move farther out. Tends to come down to dollars versus miles.
We now operate in a world wide economy like it or not. We won’t and can’t
put up barriers at our shores and sustain the economy.
Love the trickle down economy here, too! Lots of growth in several sectors.
Very thankful for that ;)
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