"AAAAAaaarrrrrgghhhhhh!"
Posted on 01/26/2015 8:14:04 AM PST by SeekAndFind
The crash in oil prices is weighing on Texas' economy.
The January Texas manufacturing survey from the Dallas Fed was a huge miss, with the general business activity reading coming in at -4.4.
Expectations were for the composite index to come in at 3.0, down from 4.1 in December. Factory activity in the region was flat in January.
The big takeaway, however, is that as with last month, numerous business executives expressed concerns over how the crash in crude oil prices would affect results.
(Excerpt) Read more at businessinsider.com ...
The market adjusts. Leftists are just angry it’s become cheaper again, and they look for this as an opportunity to control. Stand fast and hold the line Americans!
As if anybody knows what the hell that means.
And don't bother trying to explain it to me. It's just another ingredient in the book cooking recipe.
Since when does anybody in the Men Seeking Men media give a damn about any possible adverse affects (effects?) on Texas' economy?
In six months there are going to be some nice houses and high end vehicles for sale cheap. From all of those people living hand to mouth.
The needle to the housing bubble in Texas.
And maybe to the housing bubble in DENVER!
Quiz time: Who of the Keating Five is still a member of the Senate?
bttt
First name Juan.. last name McCain.
"AAAAAaaarrrrrgghhhhhh!"
...One executive in the fabricated metal manufacturing sector said “multiple oil-related customers have sent out letters to all suppliers saying they expect 25 percent price reductions.”...
...one wood-product-manufacturing executive said:
“Like everyone, we are concerned about oil prices and are uncertain about the effect on construction in Texas. Will a good recovery slow or, worse yet, end? We don’t know.”
It's worked wonders here. In fact, it's a wonder not everyone has moved to Texas.
What garbage. I’m in Dallas. A TON of oil money started shifting into tech about two years ago.
As for a housing bubble, housing is cheap here. I don’t see any bubble.
This is not simply a supply/demand issue. World economies are slowing, much more production online, but there are covert efforts to put pressure on Iran, Venezuela, Russia for their wayward actions. Saudi Arabia playing two ends against the middle in attempting to put pressure on the above mentioned AND see it also as an opportunity to kill off competition from U.S. producers.
The next war could very well be ramping as we type. Desperate Putin seeking retribution for what they see as Western intervention/economic warfare. Iran forging ahead with nuke work also perceives themselves at war with America/Israel/Saudi Arabia.
China, Russia, Iran see Obozo as an incredibly weak leader. He has two more years +- in the white house and these hostile leaders will likely press ahead with aggression knowing full well America will be hesitant to engage militarily.
Buckle the ol seatbelts folks, 2015 will likely be a very tumultuous year on the global stage.
Sorry, but this is not just a market adjustment.
The Saudi's are trying to protect their market share by pushing the price below the point where horizontal drilling and fracking is no longer profitable.
Lower gasoline prices (and heating oil, and natural gas, and diesel, and jet fuel) are good. But, it comes at a price.
Since Texas is really the only state that has survived Obama's Great Recession, the rest of the US only looks good when Texas is averaged when them. Without Texas, the rest of the US has yet to even recover, much less grow....
Obama wants Alaska refuge off-limits for oil drilling
Published: Jan 26, 2015 7:45 a.m. ET
Bloomberg
Sen. Lisa Murkowski, a Republican from Alaska, criticized President Barack Obama’s request to designate part of the Arctic National Wildlife Refuge as protected wilderness.
By
RobertSchroeder
Fiscal policy reporter
WASHINGTON (MarketWatch) — President Barack Obama plans to ask Congress to designate more than 12 million acres of Alaska’s Arctic National Wildlife Refuge as a protected wilderness area, seeking to block oil and gas production.
Alaska’s Republican lawmakers, reports USA Today, immediately criticized Obama’s plan, saying it would damage their state’s economy. Obama said in a video released by the White House on Sunday he wants to “make sure that this amazing wonder is preserved for future generations.” Congress would have to approve a formal wilderness designation. But some Alaska officials pointed out that the U.S. Interior Department would immediately begin managing the coastal plain on ANWR, making oil and gas production all but impossible. In the video, Obama said the department is developing a “comprehensive plan” to protect the refuge. Sen. Lisa Murkowski, an Alaska Republican, said about Obama’s move: “It’s clear this administration does not care about us, and sees us as nothing but a territory.”
http://www.marketwatch.com/story/obama-wants-alaska-refuge-off-limits-for-oil-drilling-2015-01-26
>> In fact, it’s a wonder not everyone has moved to Texas.
When you consider how horrible life is here in Texas, I have great admiration for all of those outsiders, ESPECIALLY Californians, that didn’t jump at the chance to move here. They were the smart ones, my FRiend.
Can’t get a job... hotter than hell April - October... mosquitos the size of buzzards... and every plant that doesn’t die in the summer has three inch poisonous thorns.
And the people! Biggest bunch of hateful unfriendly bastards I ever met, anywhere. Especially out here in the country. And I have never been to a state that had uglier women.
Drinking water, what little there is of it, has the faint smell of gasoline from all the fracking chemicals. I think it’s why me and Mrs. Tick are sick all the time.
Spread the word... y’all that aren’t already here, stay where you are! You’ll thank me later.
shhhhh... dammit...
It’s no big deal, we expected it, and that’s why we started shutting down wells in Oct.
I personally don’t care why the price of oil has decreased so much, other than the fact that it hurts Iran, ISIS, other unfriendly countries, and Russia.
The Saudis are threatened by those countries, not fracking in the U.S. The Saudis did not have to drive the price down to the current levels to combat fracking. They would have accomplished that at $60/bbl.
So Texas is the “salvation” of the country and California is in the dumper?
Why don’t you take a look at this:
http://en.wikipedia.org/wiki/List_of_U.S._states_by_GDP
The fact remains, that California’s economy is far larger than that of Texas still today. I guess it’s still true that “everything is big in Texas,” even when analyzing economic statistics. Oil price declines will hurt Texas.
LOL. You just don’t want those light-in-the-loafer eco-greenie types moving in as next door neighbors. First thing you know they’ll want to ban drilling, legalize pot and take away your guns!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.