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

[HereWeGoAgain]

Lower oil prices threaten Texas economy

Experts Lower oil prices threaten Texas economy - El Paso Inc. Texas

WOW!!! Like I havent seen that headline a half dozen times in my life.
Not a big deal....

 

[kaz]

Try to keep up

He was the Messiah, but he is continuing to evolve past that. God is afraid of him now.

Right.

My, look at the time....

You have to read what I was responding to in order to know what I was talking about. According to RW, Obama only has to think to change the gravitational fields of the earth.

 

[BullKurtz]

Fracking is a considerably cheaper process than conventional drilling so let's see how long the A-rabs want to play chicken with us. I just paid $2.10 a gallon and with a vintage F-150 V-8, I'm smilin like the cat in the catnip.

 

[westwall]

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

No, it won't. Texas has been diversifying its industrial base for years. They learned the hard way the last time there was a major oil bust.

 

[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.

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

Do you disagree with the statement of fact that it takes 5-7 years to get a new field developed and in production? That is a yes or no question. Then we can discuss who is responsible for the oil boom.

Why should we have to? The RW SOP on attacking Obama is that if it's bad and it happened during his presidency,

it must be his fault.

So, using that SOP, and nothing else, Obama gets credit for lower oil prices.

Don't try to play the game of holding others to a standard you won't hold yourself to.

 

[NYcarbineer]

Why Saudis Decided Not to Prop Up Oil - WSJ

Why Saudis Decided Not to Prop Up Oil
In American Shale Oil, A Perceived Threat to OPEC Market Share

btw, I pointed this out a month ago give or take.

Key line from the article:

"The option left: Let prices slide to test how long, and at what levels, American shale producers can keep pumping."

 

[deltex1]

Filled up the limo today at $1.99 per gallon. Made $7000 in the market. God bless Texas...and up yours Moon........

 

[blackhawk]

Short answer to the original question asked in the thread title is no.

 

[Syriusly]

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

Unlikely- Texas has a fairly diversified economy.

Some of the other states though are much more dependent on oil revenue.

 

[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

Do you disagree with the statement of fact that it takes 5-7 years to get a new field developed and in production? That is a yes or no question. Then we can discuss who is responsible for the oil boom.

You missed my point.

I believe there are things that the previous administration should get credit for, and I believe there are things that the previous administration should get the blame for.

I believe there are things that the current administration should get credit for, and I believe there are things that the current administration should get the blame for.

Can you think of anything bad you'd blame on the Bush administration?...or anything good you'd give the Obama administration credit for?

That was a question, not an assumption.

Logic dictates that nobody is perfect, and if you support Obama, or oppose him, you should find yourself within some unequal variation of that.

 

[TooTall]

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

Do you disagree with the statement of fact that it takes 5-7 years to get a new field developed and in production? That is a yes or no question. Then we can discuss who is responsible for the oil boom.

You missed my point.

I believe there are things that the previous administration should get credit for, and I believe there are things that the previous administration should get the blame for.

I believe there are things that the current administration should get credit for, and I believe there are things that the current administration should get the blame for.

Can you think of anything bad you'd blame on the Bush administration?...or anything good you'd give the Obama administration credit for?

That was a question, not an assumption.

Logic dictates that nobody is perfect, and if you support Obama, or oppose him, you should find yourself within some unequal variation of that.

The subject is Texas and low oil prices. My question is not bashing Obama, only giving credit to the oil policy that caused the oil boom and you answered it with an irrelevant question. Anyone who thinks Obama is responsible for the increase in oil production is not right in the head. I am not referring to you.

 

[toxicmedia]

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

Do you disagree with the statement of fact that it takes 5-7 years to get a new field developed and in production? That is a yes or no question. Then we can discuss who is responsible for the oil boom.

You missed my point.

I believe there are things that the previous administration should get credit for, and I believe there are things that the previous administration should get the blame for.

I believe there are things that the current administration should get credit for, and I believe there are things that the current administration should get the blame for.

Can you think of anything bad you'd blame on the Bush administration?...or anything good you'd give the Obama administration credit for?

That was a question, not an assumption.

Logic dictates that nobody is perfect, and if you support Obama, or oppose him, you should find yourself within some unequal variation of that.

The subject is Texas and low oil prices. My question is not bashing Obama, only giving credit to the oil policy that caused the oil boom and you answered it with an irrelevant question. Anyone who thinks Obama is responsible for the increase in oil production is not right in the head. I am not referring to you.

Agreed, and I was not referring to you when I characterized some as blaming Obama for everything, excluding oil prices, for example, and of course everything else, ever.

 

[NYcarbineer]

US domestic production puts both a ceiling and a floor on oil prices.

A ceiling because the supply produced will keep oil prices from going too high.

A floor because the cost of US production is too high maintain supply at lower prices.

That's more reason to work on alternatives.