Texas Will Survive the Oil Glut, Thank You.

Screwing with Putin by killing the profits of the petro-state does not seriously threaten Texas, according to this Federal Reserve Report from the Dallas Branch.

http://www.dallasfed.org/research/heart/index.cfm

The vice president of the FRB-D  says that there are large “industry clusters” around the state where the economy is stable.

She says industries with high-paying jobs – like government, technology, construction, biomedical and defense – may not grow very quickly, but they don’t tend to lose jobs.

(Researchers) look at the question of why cities tend to grow faster,” she says. “They tend to grow faster because firms tend to group into industries and specialize, so certain regions are specialized in certain industries. This increases productivity growth. It raises wages for workers and it has a lot of benefits on growth.

Orrenius says the report shows a surprising diversification in industry in places like San Antonio, one trend that mimics the nation as a whole.

You really see some interesting insights,” she says. “We know that Houston is a huge center of the oil and gas industry in the nation, but then you see that Dallas, for example, has a very large concentration of professional and business services.”

The Report says that Austin bounced back from the Recession paced by its large and fast-growing high-tech sector.  Austin currently ranks first on The Kauffman Startup Index.

The Midland-Odessa Region will contract during the Glut, but that region has faced this before, many times, so it is “mature” in its handling of the situation.

Despite Houston’s huge petrochemical industry, diversification is pronounced. The Report says that “with five metropolitan areas of 1 million or more residents, Texas has more big cities per capita than the other large U.S. states with the exception of Florida and Ohio. Dallas–Fort Worth and Houston rank among the top five largest metropolitan areas in the U.S. in terms of both population and economic output. In fact, Texas is the only state to have two metros in the top five.”

27 Responses

  1. NoVA, you fraud. This whole time I thought you knew something about health care policy.

    Thank God the progressives on PL proved otherwise.

    Like

    • i’m tempted one day to go full health policy wonk on them.
      the absolute conviction they have would be out of place even in the most religious community. even those places address doubt.

      Liked by 1 person

    • Clearly I missed something today. Drat work!

      Like

      • you really didn’t.

        Liked by 2 people

      • It’s the usual “NoVA has no idea what he’s talking about because he doesn’t agree with my talking points from Daily Kos”.

        The blind certainty that because progressives/liberals/Democrats are, ipso facto, the party of facts and logic and everyone else is just wrong, then any observation from someone with professional credentials that contradicts the party line can be dismissed out of hand.

        Liked by 1 person

        • It’s why with the type of folks on PL, even most of the regulars, when it comes to any idea that remotely deviates from orthodoxy, they turn into cliche-ridden/kneejerk broken record as any of the “conservative” trolls they bemoan (present company excluded, of course).

          Facts may have a liberal bias, but in my personal experience liberals have no bias towards the object ascertainment of facts (present company excluded).

          … and I could go into why this is but I think I’ve consumed too many carbs and am about to get a migraine. And I know better!

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        • Racist

          Like

    • You guys don’t know anything about anything. You don’t worship the right God or go the right church. So you can’t know anything. It unpossible.

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  2. I just came up withthe best response for Trump on that 3am phone call.

    HRC – who do you want answering that 3am phone call.
    trump – if it’s your phone, it’s Goldman Sachs calling

    Liked by 1 person

  3. Vulgar Talking Yam would be an awesome band name.

    Liked by 1 person

    • Can’t read it thanks to the Net Nanny at work. I take it from the URL and Christie Endorsed Trump.

      Speaking of Vulgar Talking Yams, I’ve always tried to give Jennifer Rubin the benefit of the doubt, despite the unibrow, but . . . sheesh:

      https://www.washingtonpost.com/blogs/right-turn/wp/2016/02/26/chris-christies-despicable-endorsement-of-trump/

      “Why? Because he knows better, and because the threat — and it is a threat — of Trump as commander in chief, or anyone else unfit for that job, was a central motivation for Christie’s run.”

      I don’t think Chris Christie ran as the Stop Trump candidate. I think that her fantasy of her dream nominee. And, I dunno, Chris Christie isn’t that far from Trump . . . at least in terms of personality.

      Like

  4. JNC is right. Trump is going to steamroll these guys and it will be all over before they even knew what happened.

    Liked by 1 person

  5. and Gov. LePage just endorsed trump

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    • Is that good for Trump, other than in the Trumpian way that all publicity is good for Trump? I mean, does it help him in the ME Primary?

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      • Gov LePage is pretty loathed. Although that may be only among his Democratic constituents.

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      • Vox has a good piece on why it’s good for Trump:

        “You can already see that most establishment Republicans fear Trump more than they hate him. They’re not willing to risk coming out against him now; they assume the damage they would do to his campaign is less than the damage he can do to them if he wins.

        That’s the most damning thing about the New York Times’ LePage anecdote: he suggested that governors get together and write an open letter, but the other governors apparently weren’t willing to go that far. If the person who is willing to stick his neck out to stop Trump defects to the anti-Trump side, who, exactly, do Republicans expect is going to stop him?”

        http://www.vox.com/2016/2/27/11126368/republican-trump-endorse

        The phrasing of the last sentence is wrong based on the rest of the piece. It should read “If the person who is willing to stick his neck out to stop Trump defects to the pro-Trump side, who, exactly, do Republicans expect is going to stop him?” to make sense with the overall point.

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  6. Tennessee has an Official State Rifle? Is there too much fluoride in the water there or something, Kevin?

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    • It would be like shooting cave salamanders in a barrel.

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    • All of our water is indeed fluoridated. We’re also the home of country music and large rural areas, so I suppose that might have something o do with it. Generally, we’re very pro-gun here, so I guess a state gun makes some sort of sense, but since my interest in guns is about the same as my interest in sports, I can neither sustain excitement nor outrage and consider this just another case of the government producing make-work nonsense on the tax payer dime. The choice of gun is odd, but I assume that could be blamed on our state legislature? I do not know.

      Oh, now I understand: “The gun’s inventor, Ronnie Barrett, is a Tennessee native and NRA board member who was referred to as “the rock superstar in the world of weapons” at a 2014 birthday bash attended by politicians Mike Huckabee, Lamar Alexander, Marsha Blackburn and others. The rifle bearing his name is manufactured in Christiana, Tennessee.”

      It’s the same thing that’s in the water everywhere. Makes people itchy, so they have to scratch each others backs, then worried about their hearing, so they have to toot each other’s horn.

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    • That rant at Ace is the exact mirror image of the rant I heard from my 46 YO son as we drove to the UT – OU basketball game yesterday. Much to my utter amazement he voted for Sanders in the D primary because “all the other candidates are bought and paid for”. It was time to “stop compromising”. Everything we hold dear is being “pulled out from under us.”

      And so forth.

      Texas won and thus we did not talk about politics after the game, to my blessed relief.

      Like

  7. The freak out over Trump on right-wing Twitter this weekend has been amazing. I’ve never seen anything like it.

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  8. The professional RW shouldn’t freak down. They should co-opt trump as appropriate and run the nastiest campaign ever against Hillary.

    They have to remember that policy doesn’t matter. At all.

    http://static.currentaffairs.org/2016/02/unless-the-democrats-nominate-sanders-a-trump-nomination-means-a-trump-presidency

    Like

    • We’re seeing the Establishment come to Trump, a la Christie. I heard Gov. Scott of Florida endorses next week. I should have been more clear, I was speaking of the pro-Rubio ( and some pro Cruz) Conservative Twitter, a la Eric Erickson.

      Like

  9. Here’s Rupert Murdoch shitting himself over a Cruz nomination for some reason.

    Like

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