Texas "last in, first out" of recession--economist says

[Philobeado]

Dad gummit, we must be doing something right in this great state.

Analyst: Texas will be first to recover from economic ills | Business | Chron.com - Houston Chronicle

DALLAS — Texas will be “last in, first out” among states battling the recession, although a recovery that has already started will require patience, a leading economist says....



“The long-term story when people look back at it will be one of last in, first out. It's also a story of us doing a little better than the rest of the country,” Perryman said. “Nonetheless, there's going to be a legacy of pain. Three hundred thousand people did lose their job, and no one really escaped this.”



As a measure of Texas faring better than most states, Perryman pointed to the 300,000 job losses. Although a large number, it represented about 4 percent of the losses nationally in a state that accounts for about 8 percent of the U.S. economy, he said. Using that formula, Texas had about half the job losses that might be expected.



One of the strongest signs of a recovering economy, Perryman said, is Texas enjoying job gains the past two months and three of the past six. He and other economists say that trend will continue, but at a modest rate. Analysts say the same thing about other sectors of the Texas economy.

 

[kyzr]

There are a lot of oil based jobs in TX. That brings in real money. Too many states are left with a "service economy", which is a joke. I hope the DC pols notice that drilling for oil in ANWR or off-shore will stimulate the economy. Its up to the states to say if they want to create jobs or if they want high unemployment and a deficit.

 

[blu]

There are a lot of oil based jobs in TX. That brings in real money. Too many states are left with a "service economy", which is a joke. I hope the DC pols notice that drilling for oil in ANWR or off-shore will stimulate the economy. Its up to the states to say if they want to create jobs or if they want high unemployment and a deficit.

service based is in the present & future. if you want to work in a fac tory or break your back everyday til you are 70 be my guest, but the rest of us will do something more useful and forward thinking

 

[kyzr]

There are a lot of oil based jobs in TX. That brings in real money. Too many states are left with a "service economy", which is a joke. I hope the DC pols notice that drilling for oil in ANWR or off-shore will stimulate the economy. Its up to the states to say if they want to create jobs or if they want high unemployment and a deficit.

service based is in the present & future. if you want to work in a factory or break your back everyday til you are 70 be my guest, but the rest of us will do something more useful and forward thinking

We disagree. Factory/manufacturing jobs are necessary to "create wealth". Buying goods made over seas is a sure path to the 3rd world. Manufacturing jobs aren't "back-breaking", they are good paying and employ all types of workers, blue-collar, white-collar, and many support jobs. The service economy is a hoax. It basically says that we can import everything, sell them in stores and that brings prosperity. I don't see a service economy creating wealth in the long run. IMHO we moved too many factories overseas, and now we're borrowing money from China......who creates wealth and has a trade surplus.

 

[RodISHI]

There are a lot of oil based jobs in TX. That brings in real money. Too many states are left with a "service economy", which is a joke. I hope the DC pols notice that drilling for oil in ANWR or off-shore will stimulate the economy. Its up to the states to say if they want to create jobs or if they want high unemployment and a deficit.

service based is in the present & future. if you want to work in a factory or break your back everyday til you are 70 be my guest, but the rest of us will do something more useful and forward thinking

We disagree. Factory/manufacturing jobs are necessary to "create wealth". Buying goods made over seas is a sure path to the 3rd world. Manufacturing jobs aren't "back-breaking", they are good paying and employ all types of workers, blue-collar, white-collar, and many support jobs. The service economy is a hoax. It basically says that we can import everything, sell them in stores and that brings prosperity. I don't see a service economy creating wealth in the long run. IMHO we moved too many factories overseas, and now we're borrowing money from China......who creates wealth and has a trade surplus.

You are correct. Blu does not have a clue.

 

[Vel]

There are a lot of oil based jobs in TX. That brings in real money. Too many states are left with a "service economy", which is a joke. I hope the DC pols notice that drilling for oil in ANWR or off-shore will stimulate the economy. Its up to the states to say if they want to create jobs or if they want high unemployment and a deficit.

I doubt the Dems in power are too concerned. If you'll consider that when Bush removed the ban on offshore drilling, gas prices dropped which is always good for economic development. Now that Obama has renistated the bans, gas prices are up almost $1.00 per gallon and unemployment is at over 10%. They didn't make the connection.

 

[uscitizen]

As the price of oil goes up and we pay more for energy the jobs go up in TX.

We have to buy our way out of this recession.

 

[kyzr]

As the price of oil goes up and we pay more for energy the jobs go up in TX. We have to buy our way out of this recession.

The part that makes no sense is Obama's statement that "energy costs will necessarily need to skyrocket". As oil becomes scarcer it will be more expensive to do business, that will kill jobs. Unemployed folks always vote for the party out of power. I don't see how high energy costs, and high medical costs, and SS & Medicare going broke can help Obama. Besides, the Cap+Trade scam shows where the dems are on energy & jobs.

 

[rdean]

I remember the gov of Texas was against the stimulus money before he was FOR it.

 

[Sidestreamer]

As the price of oil goes up and we pay more for energy the jobs go up in TX.

We have to buy our way out of this recession.

Yep.

I was living in Odessa, pretty much where most of Texas's oil was coming from leading to the 2008 election when the gas prices dropped. Everyone outside of the area was cheering, as were a few drivers there, but the oil workers were getting laid off. If gasoline isn't going for at least 2.30 a gallon nationally then drilling basically stops.

Where I disagree with most of the workers there is the effect ANWR would have on the oil prices. If ANWR makes a higher supply, then naturally gas should drop, but when prices drop, the roughnecks in Texas will either be laid off or will relocate to a much colder climate, and then it's going to go right back up again until Texas becomes profitable again.

 

[Modbert]

Drilling in ANWR would provide a temporary influx of jobs in that industry for a couple years. There would be drilling, all the workers, etc. However, in the long run, more jobs would be lost in the drilling industry than gained.

And if we get the amount of oil in the ANWR that we expect, the only ones who are going to truly benefit in the long run are the heads of the oil corporations as their profit margins go through the roof. However, they will not have a need for workers as much because they'll have such a influx of oil.

 

[Lonestar_logic]

Apparently know one in this thread knows a thing about oil producing. Drilling is only a small part of the industry.

 

[Sidestreamer]

Apparently know one in this thread knows a thing about oil producing. Drilling is only a small part of the industry.

Then would you mind pointing out where we all went wrong and tell us how it works?

 

[uscitizen]

As the price of oil goes up and we pay more for energy the jobs go up in TX.

We have to buy our way out of this recession.

Yep.

I was living in Odessa, pretty much where most of Texas's oil was coming from leading to the 2008 election when the gas prices dropped. Everyone outside of the area was cheering, as were a few drivers there, but the oil workers were getting laid off. If gasoline isn't going for at least 2.30 a gallon nationally then drilling basically stops.

Where I disagree with most of the workers there is the effect ANWR would have on the oil prices. If ANWR makes a higher supply, then naturally gas should drop, but when prices drop, the roughnecks in Texas will either be laid off or will relocate to a much colder climate, and then it's going to go right back up again until Texas becomes profitable again.

The ANWR oil would be sold to China or Japan.


Oil had been sitting on leases in Alaska for decades that they will not drill or give up the leases.
I say drill off of FL. But the republicans were against it.
Those vacationers are being deprived of tar balls on their feet while on the beach. Simply unamerican.

I don't think FL even has a refinery, they are just leeches.

 

[Lonestar_logic]

Apparently know one in this thread knows a thing about oil producing. Drilling is only a small part of the industry.

Then would you mind pointing out where we all went wrong and tell us how it works?

Well whats wrong is drilling is a small part of the oil industry and that seems to be the main focus of the discussion. Before you even start to drill hundreds of man hours are spent finding the place to start the drilling. Then after you drill the well the well must be "completed". The main part of completion is perforating the well. This is done through busting little holes into the well casing so oil can flow up the tubing of the well and to the surface to be produced. Then it must then be transported to a refinery and depending on what the oil is to be used for, the refining process starts. Then after it is refined it is then distributed to the appropiate location. The point I'm making is that utilizing domestic oil puts thousands of people to work. And most of these jobs are permanent jobs.

 

[uscitizen]

Umm last time I checked we import a lot of our fuel in refined form. We do not have the refining capactity to handle our needs/wants.

 

[uscitizen]

As the price of oil goes up and we pay more for energy the jobs go up in TX. We have to buy our way out of this recession.

The part that makes no sense is Obama's statement that "energy costs will necessarily need to skyrocket". As oil becomes scarcer it will be more expensive to do business, that will kill jobs. Unemployed folks always vote for the party out of power. I don't see how high energy costs, and high medical costs, and SS & Medicare going broke can help Obama. Besides, the Cap+Trade scam shows where the dems are on energy & jobs.

I am against cap and charade. Cap and charade is pro business, not pro consumer.
I am for limiting emissions of most pollutants, esp mercury from power plants.
I am also very for development and production of alternate energy sources.

 

[Toro]

It doesn't take a rocket scientist to understand why. Texas is highly reliant on the price of energy. The energy industry has done far better than almost all other industries over the past three years. Thus, Texas has done far better than the rest of the country.

 

[theHawk]

I remember the gov of Texas was against the stimulus money before he was FOR it.

Yes, and hopefully our former Democrat Governor will be thrown out of office sooner rather than later.

 

[California Girl]

There are a lot of oil based jobs in TX. That brings in real money. Too many states are left with a "service economy", which is a joke. I hope the DC pols notice that drilling for oil in ANWR or off-shore will stimulate the economy. Its up to the states to say if they want to create jobs or if they want high unemployment and a deficit.

service based is in the present & future. if you want to work in a fac tory or break your back everyday til you are 70 be my guest, but the rest of us will do something more useful and forward thinking

How seriously fucking elitist of you. Who the hell are you to consider factory work less valuable that the 'service industries'. You arrogant loser. Those factories produce actual things, instead of 'serving' people.

This is exactly the kind of attitude that makes liberals so fucking pathetic.