Gee, since you put it like that,I feel so guilty paying less than $4 a gallon for gasoline. Your little economic “sob” story can be applied to any business...what monetary ramifications are the direct result of tech workers training their replacements from a direct result of H-1B visa’s?...thats a created problem not a result of over supply and price manipulation from a commodity that has been and always will be abundant....
It’s not that you should feel guilty, but there’s an economic price to pay now domestically for cheap gas. In the eighties, it didn’t matter nearly so much. Now, it appears that the oil patch was one of the few areas driving the private sector and so it’s not good that they’re suffering.
What I am trying to do is indicate the effect on the overall economy. In this State $1.5 billion dollars is fairly significant, considering there are fewer than a million people in the state. But that unspent money doesn't circulate through the myriad other industries it would have had it been used to drill and complete wells. Just a fact.
what monetary ramifications are the direct result of tech workers training their replacements from a direct result of H-1B visa’s?..
The jobs still exist, only at a reduced pay rate. The money will still be spent, only some of it may go abroad instead of into the local economy.
While the former employees will feel the pain (I can sympathize), the jobs won't go away.
thats a created problem not a result of over supply and price manipulation from a commodity that has been and always will be abundant....
We raised the production of oil in this state (ND) alone about a million barrels of oil a day in less than 10 years, from a pair of rock formations previously only producible in isolated cases, and did it with a new wave of technology and innovation.
There was no over supply until we (and others in other parts of the oil patch) raised the supply enough and Obama crashed the economy enough for the curves to cross. Foreign policy factors apply as well (ISIS, Iran oil production).
There wasn't such a surplus until we made one.
But I have to ask this. Why, if the cheap gasoline is so good for the economy, is the economy tanking? Where is the bonus? Where is the recovery? Gasoline prices have been dropping steadily for a year, and the great revival isn't appearing, instead all the indicators are that is going the other way.