If You Are PLanning To Fill The Gas Tank....

[JD8]

I never said Oklahoma economics and you know that.
As a matter of fact I explicitly gave examples in other states, like the states where the SUVs are built.
Lose some jobs in OK but pick up some jobs in TN or wherever.

Here's another:
When gasoline gets cheaper people tend to drive more and tourism picks up.
Good for hotels, BNB, restaurants,... lots of folks will benefit. Most of them won't be in OK though.

Glad you brought that up. Here in Oklahoma, our hotels aren't filling up, O&G guys aren't entertaining like they used to and we aren't getting visitors from companies here and abroad like we were. All those service industry people supporting those hotels and restaurants should be rich though.... they save $30 a week in gas now. But hey.....in Tennessee.....

 

[Hobbes]

Glad you brought that up. Here in Oklahoma, our hotels aren't filling up, O&G guys aren't entertaining like they used to and we aren't getting visitors from companies here and abroad like we were. All those service industry people supporting those hotels and restaurants should be rich though.... they save $30 a week in gas now. But hey.....in Tennessee.....

Maybe those service industry people should move where the tourism business is picking up.

 

[Hobbes]

In the economic theory of capitalism the jobs don't disappear, they just migrate.

When millions of people pay less money at the gas pump they have more to spend on other goods and services.
Those industries and trades benefit from the increased purchasing power of the consumer and then add on new jobs and contracts, even though they may be in other states.

I guess I should have added that part on the end in my OP on the subject.
I assumed everyone was knowledgeable enough to understand that as a given.

 

[JD8]

"Brinker is making waves because it is blaming at least part of the slide in comps on the recent slump in oil prices. It broke down its regional performance during yesterday's subsequent earnings call, pointing out that comps at Chili's plunged 6.6% if we focus on the states of Texas, Louisiana, and Oklahoma that have a significant exposure to the energy industry. These are the states where production is scaling back in light of the drop in energy prices, generating layoffs and job uncertainty."

Those million dollar a year oil grunts gotta eat....

 

[Hobbes]

Simplified version:

A drop in oil prices benefits consumers of derived goods and
services (gasoline, heating oil, etc.) and harms oil producers. A
prima facie reason to believe that an oil price cut is good is that
the welfare of consumers, not producers, is the paramount crite-
rion; the goal of economic life is consumption, not production.
Conversely, an increase in oil prices will benefit producers and
harm consumers, which suggests that it is bad

Full Version

 

[JD8]

Maybe those service industry people should move where the tourism business is picking up.

They really should, it's just that easy too if they have a family. They can go buy that new SUV from all the gas money they're saving and take them where they need to go.

 

[Hobbes]

They really should, it's just that easy too if they have a family. They can go buy that new SUV from all the gas money they're saving and take them where they need to go.

Well, that's capitalism isn't it?

 

[YukonGlocker]

The ecomonic theory of capitalism is terribly flawed, especially as implemented in the U.S. It's best when us plebes are able to exlpolit it for personal gain as best we can. Especially in Oklahoma. This states not all that appealing in the first place...take our only economic saving grace down the hole and we're just a bunch of fat drug-abusing poor people with pregnant teenagers that vote R.

Know your place. There's us and there's them. The job cuts won't affect those at the top at all.

I read an interview with Trevor Rees-Jones yesterday. He's buying like there's no tommorrow. Rich folk always benefit in times like these. He's about to make a shitton more money. Devon top brass won't be crying, either, as their employees from Texas to Edmonton pack boxes for the next few months.

Oil & gas, banking, airplanes and a service industry built aroud them. That's what we got.

Nobody is being lifted out of poverty by cheap gas.

Here I'll make everyone disagree with me whi hasn't thus far. We need higher corporate tax rates, tightened regulation in industry and finance, unions to grow again, and wage increases (including a federal minimum wage hike). I'm on the same side of the economic isle with a few of you dissenters here, I just think you're villifying the wrong people and cheering for spilled crumbs. Good paying jobs take a huge hit, the poorest of the working poor (who OSA usually has no sympathy for - see minimum wage threads) might have a few extra bucks for cigarettes, the rich stay rich or get richer. Not a lot to cheer about from where I sit.

But hey, I know a young redneck with no savings account. Fawk that guy. Let's cripple the economy because he needs a lesson in personal responsibilty.

Agreed.

 

[Fredkrueger100]

All I know as the gas prices have really helped me and my wife save a lot of money. We were spending a ton on gas. So much so that I had to stop driving my truck. I want putting $100 in it about every 7 -10 days. It was ridiculous. I don't want to see anyone hurt and lose their jobs when they don't deserve to but why should we have to suffer while they are making a killing? That makes me not want to have sympathy for oil field workers. And I have none for these oil companies. They make millions no matter what. Here is Shawnee alone there are at least 3-4 different oil companies. And they all live in huge homes and drive escalades and other high dollar vehicles. They ain't hurting one bit.

 

[RidgeHunter]

Yep, in Colorado.

Pssh. I have about half a dozen acquaintances there and one good friend. Spend a lot of time there

There's such a thing as too good of an economy. My craftsman style house in midtown Tulsa - there's houses almost identical to them in Denver. Same size and age. For 8-10 times the price. If you can ever find one for sale. Nobody I know makes 8-10 times what I make. LOL. My friend was laid off in April and it took her until November to find a job. She applied for a coupe hundred. Interviewed dozens of times. Finding an apartment is a job in itself, there. And for a nice one-bedroom you'll pay in rent what would get you a midtown Tulsa mansion. If you're young and bring your bachelor's degree or even post-grad degree to Denver you might as well wipe your ass with it and burn it for heat. There's too many newbs.

I wouldn't touch Denver with a ten-foot pole at this point. It's about to get worse. Imagine San Fran fawked Brooklyn and had a baby and gave it legal weed and let Austin raise it. People will be living in closets if they're not already.