Will Texas Slip Into A Deep Recession Because Of Oil Prices?

[kaz]

Obama is cutting the oil prices just to get even with Texas

Take THAT Rick Perry! You don't seem like such an economic genius anymore

What has Obama done to cut oil prices? He has only worked to increase them. That shows again his flagrant incompetence. Incompetence, the only thing he's good at. I hope he keeps working to increase oil prices, even lower would be nice.

What has he done?

Why Obama is the greatest energy President in 50 years. His energy policies have encouraged energy creation and diminished our Republican sponsored dependence of foreign oil

I bought some Obamagas yesterday at $2.03 a gallon

I was asking what those policies are. See if you can see the hint that is what I was asking in my quote, "What has Obama done to cut oil prices?" Subtle, wasn't it big guy?

Having his ass parked behind a desk in the Oval office isn't a policy.

 

[kaz]

The shale oil boom has been a blessing to Texas, making the state an economic standout during the past few years of ho-hum U.S. growth. But oil's dramatic plunge below $55 a barrel is scaring the shale industry. Since some wells are unprofitable at lower prices, shale companies will be forced to dial back capital spending and cut jobs.

And it will be hard enough for Texas to find another source of economic activity to keep the state afloat.

JPMorgan to Texas Brace for a recession - Dec. 18 2014

I don't get your logic. Granted shareholders of oil companies will take a hit, but how is more gas and oil being processed in the US going to harm the economy of the State that does the largest share of processing it exactly?

We stop drilling when the price gets to low.

The price gets too low when there is too much oil on the market. That isn't a magic random event. If there is too much oil on the market, and we stop drilling, what is going to keep prices up? You know, supply and demand?

Granted production will fluctuate and the amount of drilling will fluctuate, but the contention is Texas could go into a "deep recession." Production would still be higher than it is now. If production goes up 50% then drops 10%, it's still higher than it is now and Texas is not in a recession, so how would higher than now but lower than the peak production do it? So you didn't address the question, how can more production lead to a worse economy?

When they stop drilling the rest of the support industries take a beating.
Trucking,machine shops,tool sales...etc.
There wont be a Texas recession,but it does hurt our economy somewhat.

Begging the question

 

[NYcarbineer]

Thank you, President Obama!

 

[kaz]

Teaxass will just have to lower the min. wage...

That would be good, we should do that everywhere. Or better yet, eliminate it. The idea of government preventing the neediest workers from getting jobs is just amoral.

So is overpaid CEO's.......

The market fixes that. Your worship of politicians accomplishes nothing in anyone's interest but the politicians you bow to.

 

[rightwinger]

Obama is cutting the oil prices just to get even with Texas

Take THAT Rick Perry! You don't seem like such an economic genius anymore

What has Obama done to cut oil prices? He has only worked to increase them. That shows again his flagrant incompetence. Incompetence, the only thing he's good at. I hope he keeps working to increase oil prices, even lower would be nice.

What has he done?

Why Obama is the greatest energy President in 50 years. His energy policies have encouraged energy creation and diminished our Republican sponsored dependence of foreign oil

I bought some Obamagas yesterday at $2.03 a gallon

I was asking what those policies are. See if you can see the hint that is what I was asking in my quote, "What has Obama done to cut oil prices?" Subtle, wasn't it big guy?

Having his ass parked behind a desk in the Oval office isn't a policy.

Lets look at Republican oil policies. They revolved around sucking the dick of the Saudis and making the American people pay whatever they were asking. Republicans also cowered in front of BP and apologized because our president was making them clean up their mess

Obama energy policies have centered on alternative energy and forced the oil companies to slash oil prices to keep these technologies off the market. He killed Keystone to prevent Canada from dumping their dirty oil on the international market leaving more market for US suppliers

Thanks President Obama

 

[NYcarbineer]

Oklahoma oil production:

Thank you, President Obama!

 

[HereWeGoAgain]

Obama is cutting the oil prices just to get even with Texas

Take THAT Rick Perry! You don't seem like such an economic genius anymore

What has Obama done to cut oil prices? He has only worked to increase them. That shows again his flagrant incompetence. Incompetence, the only thing he's good at. I hope he keeps working to increase oil prices, even lower would be nice.

What has he done?

Why Obama is the greatest energy President in 50 years. His energy policies have encouraged energy creation and diminished our Republican sponsored dependence of foreign oil

I bought some Obamagas yesterday at $2.03 a gallon

I was asking what those policies are. See if you can see the hint that is what I was asking in my quote, "What has Obama done to cut oil prices?" Subtle, wasn't it big guy?

Having his ass parked behind a desk in the Oval office isn't a policy.

Lets look at Republican oil policies. They revolved around sucking the dick of the Saudis and making the American people pay whatever they were asking. Republicans also cowered in front of BP and apologized because our president was making them clean up their mess

Obama energy policies have centered on alternative energy and forced the oil companies to slash oil prices to keep these technologies off the market. He killed Keystone to prevent Canada from dumping their dirty oil on the international market leaving more market for US suppliers

Thanks President Obama

I can tell you're an expert on the oil industry.....

 

[toxicmedia]

Wow! We need to hike up the price of gas - Obama sticking it to us again!!!!

Yea, that crap happened on HIS watch!

 

[Katzndogz]

The shale oil boom has been a blessing to Texas, making the state an economic standout during the past few years of ho-hum U.S. growth. But oil's dramatic plunge below $55 a barrel is scaring the shale industry. Since some wells are unprofitable at lower prices, shale companies will be forced to dial back capital spending and cut jobs.

And it will be hard enough for Texas to find another source of economic activity to keep the state afloat.

JPMorgan to Texas Brace for a recession - Dec. 18 2014

You don't know much about Texas do you? Texas does not have a one product economy. It has lured major companies away from high tax states and would be thriving without oil.

 

[rightwinger]

Obama is cutting the oil prices just to get even with Texas

Take THAT Rick Perry! You don't seem like such an economic genius anymore

What has Obama done to cut oil prices? He has only worked to increase them. That shows again his flagrant incompetence. Incompetence, the only thing he's good at. I hope he keeps working to increase oil prices, even lower would be nice.

What has he done?

Why Obama is the greatest energy President in 50 years. His energy policies have encouraged energy creation and diminished our Republican sponsored dependence of foreign oil

I bought some Obamagas yesterday at $2.03 a gallon

I was asking what those policies are. See if you can see the hint that is what I was asking in my quote, "What has Obama done to cut oil prices?" Subtle, wasn't it big guy?

Having his ass parked behind a desk in the Oval office isn't a policy.

Lets look at Republican oil policies. They revolved around sucking the dick of the Saudis and making the American people pay whatever they were asking. Republicans also cowered in front of BP and apologized because our president was making them clean up their mess

Obama energy policies have centered on alternative energy and forced the oil companies to slash oil prices to keep these technologies off the market. He killed Keystone to prevent Canada from dumping their dirty oil on the international market leaving more market for US suppliers

Thanks President Obama

I can tell you're an expert on the oil industry.....

Its not me who is the expert......President Obama is the expert

The major difference is that Republicans were looking out for their oil buddies and keeping oil prices high to maximize their profits

 

[Mad_Cabbie]

Give it six months; the price of oil and gas will be up again.

Yes it will, but only due to the seasonal demand increase.

 

[OKTexas]

Oklahoma oil production:

Thank you, President Obama!

Considering it takes 5-7 years to get a new field developed and in production I think you're thanking the wrong guy.

 

[Mad_Cabbie]

Oklahoma oil production:

Thank you, President Obama!

Considering it takes 5-7 years to get a new field developed and in production I think you're thanking the wrong guy.

When is that not ever the case? I heard the same thing AFTER Reagan was prez and AFTER "but, but BOOSH" was prez.

When the chips are down, though: It's Obumbler's fault!!!

 

[toxicmedia]

Oklahoma oil production:

Thank you, President Obama!

Considering it takes 5-7 years to get a new field developed and in production I think you're thanking the wrong guy.

Now you can't have it both ways...either you accept the narrative that everything that happens under a President "happened on their watch"...or you can embrace the idea that Presidents inherit messes that can be blamed on the previous administration.

Cherry picking should not be allowed.

 

[NYcarbineer]

Oklahoma oil production:

Thank you, President Obama!

Considering it takes 5-7 years to get a new field developed and in production I think you're thanking the wrong guy.

Not if I utilize the standard RW argumentation tactic.

 

[NYcarbineer]

North Dakota oil production:

Thank you, President Obama!

 

[toxicmedia]

Oklahoma oil production:

Thank you, President Obama!

Considering it takes 5-7 years to get a new field developed and in production I think you're thanking the wrong guy.

Not if I utilize the standard RW argumentation tactic.

That's right...that would be the olde "argumentational strategery thingy"

Everything bad is Obama's fault.
Everything good is a continuation of Bush policies

 

[Moonglow]

Teaxass will just have to lower the min. wage...

That would be good, we should do that everywhere. Or better yet, eliminate it. The idea of government preventing the neediest workers from getting jobs is just amoral.

So is overpaid CEO's.......

The market fixes that. Your worship of politicians accomplishes nothing in anyone's interest but the politicians you bow to.

I don't bow to politicians or rich people, same with religious leaders........they disgust me with their dirty spirits....

 

[Moonglow]

Oklahoma oil production:

Thank you, President Obama!

Considering it takes 5-7 years to get a new field developed and in production I think you're thanking the wrong guy.

Not if I utilize the standard RW argumentation tactic.

That's right...that would be the olde "argumentational strategery thingy"

Everything bad is Obama's fault.
Everything good is a continuation of Bush policies

Oblama does have the Energy Policy law of 2005 to thank.......all you hate about it was passed during when the bird was in the Boosh!

 

[Katzndogz]

obumble has done everything he could to prevent the oil shale boom. He passed all the regulations he could, which is why the price of gas is as high as it is instead of where it was when he took office.