Oil and gas payroll accounts for 20% of the total in the state. That isn't a little bit to me
2011 numbers, and it is a fact
That number is deceiving. It accounts for every person that works in a gas station, propane store, etc. The 20% number is wrong to begin with and then you deduct gas station attendees and the like it drops even more. Yes is a big industry in Texas but Texas can survive if the oil industry in down. We are not Michigan or West Virginia and rely solely on one industry.
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Originally Posted by JMalin View Post
Falling prices are exactly what we need in order to fuel real economic growth.
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Originally Posted by JMalin View Post
Is there no other place where the billions and billions of dollars of capital tied up in producing oil could be put to better use?
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Originally Posted by JMalin View Post
You bet your *** I believe it. There are some major structural imbalances that the Fed's easy money policies along with Bush/Obama Keynesian stimulus have only masked.
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Originally Posted by JMalin View Post
It's not just what workers are being paid to sit around doing not much of anything. I've seen what we bill for the chemicals used on these jobs and know what they cost us. I don't know how we got any work charging what we did. It's like the whole frac service side is in cahoots. Wireline is a different story. It's cut throat out here.
Okay you probably voted as a Democrat...I get it.
To the OP...I worked for Halliburton during the 82 bust. I watched people lose their jobs, I watched companies shut their doors. Small towns lost enough families who had to move on that the schools were lowered in their class designation.
I saved but I didn't save enough and it was a hard struggle.
And those who think that lower prices at the pumps equals lower prices across the board? Tell me when that's happened.
More facts, not empty words for you. O&G are huge in Texas if you like it or not
Look I am not saying Oil is not a great benefit to the Texas economy. It is. I am just saying it is not going to turn us into Michigan. WE are a well diversified state that has many things going its way even without Oil. Yes oil makes it better. We are the number one exporter of all goods for 7 or 8 years running. We grow more sheep, goats, cattle, and cotton. Dell makes and sells 12% of the computers in the World. Second fastest growing state in the Union(that is not a good thing to me).
That number is deceiving. It accounts for every person that works in a gas station, propane store, etc. The 20% number is wrong to begin with and then you deduct gas station attendees and the like it drops even more. Yes is a big industry in Texas but Texas can survive if the oil industry in down. We are not Michigan or West Virginia and rely solely on one industry.
We CERTAINLY don't want to include those types of high dollar jobs. LOL.
Gas station attendants need to be deducted. Grasping for straws much?
I wonder if that figure accounts for the construction jobs that have occurred as a result of the oil industry setting up new offices and facilities? Hmmmmm. What about these senseless roughnecks buying 70,000 trucks? What about people buying homes as a result of better income in the oilfield?
You're right. Strike the minimum wage gas station attendants from the record!
Could we at least throw in that little construction project Exxon is paying for south of The Woodlands? 3 million square feet of office space, 385 acre campus, 15,000 jobs..... New hospitals, new schools
We CERTAINLY don't want to include those types of high dollar jobs. LOL.
I wonder if that figure accounts for the construction jobs that have occurred as a result of the oil industry setting up new offices and facilities? Hmmmmm.
My point was that those jobs wont go anywhere with the low price of Oil. They are not reflective of what most people call true oil and gas industry jobs.
We CERTAINLY don't want to include those types of high dollar jobs. LOL.
Gas station attendants need to be deducted. Grasping for straws much?
I wonder if that figure accounts for the construction jobs that have occurred as a result of the oil industry setting up new offices and facilities? Hmmmmm. What about these senseless roughnecks buying 70,000 trucks? What about people buying homes as a result of better income in the oilfield?
You're right. Strike the minimum wage gas station attendants from the record!
Again you are looking at only a portion(oil/gas jobs) and not as a whole state. Lets use your number for poops and giggles. What you are saying is that the 20% of the people that work in O/G jobs are more important than 100% of the people in the state that will or might benefit form lower prices at the pump. Cause those 20% will be saving at the pump also. Yes the might really need the savings if they a let go. I am not saying I want the O/G market to tank or do poorly. I am saying it is not as bad as everyone is making it out to be. Texas is not going down the toilet.
This will give both direct and indirect impacts of Oil and Gas nationally and state by state. People can read it and take what they want out of it. Keep in mind they are 2011 numbers and It has grown in Texas exponentially since then.
To the OP...I worked for Halliburton during the 82 bust. I watched people lose their jobs, I watched companies shut their doors. Small towns lost enough families who had to move on that the schools were lowered in their class designation.
I saved but I didn't save enough and it was a hard struggle.
And those who think that lower prices at the pumps equals lower prices across the board? Tell me when that's happened.
Not the first time I've been accused of being a Godless "liberal" here.
Won't most jobs in the O/G industry still be there even if prices go down. What % of those numbers listed are crude oil exploration? How many of those will return to or go to NG? Production, refinery, generation will still be at same levels or higher, which i would guess is the largest percent of those jobs.
Prayers for all that are going to go thru rough times. I'm hoping technology will catch up, drive fracking cost down, and keep everyone working even at lower prices.
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