Saudi Arabia to lower oil prices, the houston boom is over

Economy supposedly down the tank (no pun intended, yar yar yar), meanwhile an Ebola bubble dog in Dallas receives better healthcare and living conditions than the 1st Prince of Liberia. 15+ years on mortgage? Take out life insurance and commit suicide or burn the house down and collect insurance asap.

 

If you're referring to the oil patch bust, you're incorrect. I'm speaking as the son of a geologist living in Lafayette and Corpus Christi in that time.

 

Wishing that oil goes off a cliff and tanking the Texas economy is terroristic. As a Texas native who makes a living in chemical and refinery this is blasphemy, BLASPHEMY! To bad it ain't happening treasonous fools.

 

Tis true...it's pathetic how many people are completely oblivious to how many MILLIONS of jobs O&G employs...not just the oil companies either...that's why I say, so ignorant...

If oil were to be completely abandoned like some folks want, Houston would suffer A LOT, but some west and south Texas economies would be completely devastated. Alterative energy sources are so expensive compared to fossil fuels...but the green geniuses here want to un-employ millions of folks while seriously jacking up the cost of living...what could go wrong?

 

technology forces industries to adapt.. next 50-100 years will be interesting as houston is forced to learn new ways instead of relying on O&G as the lifeblood

its more than just us wanting it to happen.. it is bound to happen

 

But won't new technology opportunity also means jobs in the new fields? Just saying.

 

its impossible for us to completely abandon oil. too many products are made from oil (plastics).

to think that alternative sources of fuel for energy is a bad thing is stupid. if you cant see the negative effects of consuming oil in the quantity that we are, then you are simply ignorant.

with that said oil isnt going any where for a LONG time.

 

If oil goes too low houston might turn into the next detroit. A bunch of unfinished building etc, but at least houston prices might turn to normal and all these out of towners can get out.

 

http://www.ft.com/cms/s/0/bd9fa474-e16e-11e2-b796-00144feabdc0.html#axzz3GB1TuBGh

There is a bill in congress right now to allow US exports of domestic production that's gaining a lot of momentum:http://www.reuters.com/article/2014/10/14/usa-oil-exports-study-idUSL2N0S928I20141014

 

At a macro level, hoping the price of oil drops drastically just so you can save a few bucks at the tank, while millions of jobs could be adversely affected, seems incredibly individualistic and self-centered.

At a even more macro level, destroying the planet that is home to billions, just to save a few million jobs in XYZ city, seems extremely illogical and hypocritical in its own right.

Everybody is selfish.

 

Hell naw, I'd love to see alternative sources dominate energy, don't get me wrong...but right now it simply isn't even CLOSE to possible to taking over fossil fuels while completely destroying our economy in the process. That is a bad thing...alternative fuels are not capable of handling the energy load (and other consumer demands) our society demands, hell it can't even replace everyday needs of our society like airliners or tractor trailers. They are incredibly inefficient "Right now". Down the road they'll probably be better, but we aren't down the road yet, and probably won't be in our lifetimes.

And to those saying new technologies will open other jobs? Maybe. I guess it's easy to take a chance with..."hey, lets just try this a new energy infrastructure and technology while un-employing a bunch of folks and let the chips fall where they may regarding our economy" If there was a solid plan to implement a change in building millions of 100 yard windmills and millions of solar panels all over the country while running wires all over the the land to a power station with endless plots of football fields of batteries then I'd be all for it. You'd be replacing one eye sore with another one...and chevron, shell, bp and exxon would still own all of them. There would certainly be jobs needed to setup all that, but it's a bit more complex than saying, "hey jobs will be created, lets do it...eff oil!"

Again, I'd love cleaner fuel, but which generation(or 2 or 3) is(are) going to be the first to say, "hey we'll live in a society with insane energy costs, fluctuating economy, and massive unemployment." These changes would effect EVERYONE not just oil and gas. And windmills and solar panels won't create plastics, asphalt, lubricants, inks, roofing, antifreeze, clothes, shampoos, fertilizers, rubbing alcohol, aspirin, crayons, balloons, CDs and DVDs, and 6000 other products we use everyday (yes I had to look most of these up). Again, dim dare greedy O&G companies are not the only companies that will suffer if we say eff oil...we all will...it's not just about energy folks...

 

Mind blown, but true haha.

I work in O&G and you can bet there are already talks about what this means for our company. A lot of cost cutting measures will likely be implemented in the short term until this thing gets back to $100 levels hopefully.

At least our $2 lunches are safe

 

need moar blacks!

sorry. african americans.

 

Haha! No need for public transportation. Time to refund metro.

 

I would love to see advancement in alternative energy and rely less on oil. My problem is with people who expect it to happen TODAY and at the cost of thousands and a large part of America economy. Instead of allowing time and research to evolve you want to reverse years of dependancy in a unrealistic time frame. It's just not happening in our lifetime, eventually maybe. Can't have your cake and eat it to.

 

No one is rooting for folks to lose jobs or anything. I agree with you statement that everybody is selfish. One could argue that millions of jobs/lives can benefit/saved from lower gas prices. This goes from manufacturing, transportation, retail, Discretionary spending, our consumer economy, etc etc.

 

Ha you must work for BHP Billiton.

 

I was gonna say the same thing but didn't want to out him. I have two friends who work there and I'm jealous over that $2 lunch.

 

You need new technology before you have that opportunity. If your current fuel source is cheap then there's not much incentive to spend a lot on R&D. It'll come eventually but if you have higher fuel costs then more people will invest in finding that new technology. There needs to be a buffer or transition period to the new technology.