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re: Texas economy is cratering
Posted on 3/30/15 at 12:20 pm to tigerinthebueche
Posted on 3/30/15 at 12:20 pm to tigerinthebueche
quote:
how exactly were they fricking you? do you feel the same way about other commodities that fluctuate in price? How do you feel about beef or milk, corn or soybeans, hell even orange juice? they all fluctuate in price. Yet I bet you don't feel like you're getting screwed by those who produce them.
Everything you listed has a substitute. Gas for our vehicles does not.
Corn goes up a dollar a can, green beans or carrots may be down.
Milk goes up? You buy less and take your vitamins with water. Same for OJ.
Gas demand is relatively inelastic and non-substitutable.
3
Posted on 3/30/15 at 12:21 pm to ragincajun03
quote:
Because judging by Jim Rockford's posts, his girlfriend was boning either someone from TX or someone in the oil & gas industry behind his back.
Pretty sure it all relates to politics with him.
Posted on 3/30/15 at 12:27 pm to mikelbr
quote:
Gas demand is relatively inelastic and non-substitutable.
ah, not really. you can buy a Prius, ride a bike, take the bus, reduce your fuel usage. I'm not marginalizing the significance of gasoline/diesel, but the same argument can be made for any other commodity. You choose to use it. You don't have to use it.
Posted on 3/30/15 at 12:38 pm to tigerinthebueche
quote:
ah, not really. you can buy a Prius, ride a bike, take the bus, reduce your fuel usage. I'm not marginalizing the significance of gasoline/diesel, but the same argument can be made for any other commodity. You choose to use it. You don't have to use it.
I said relatively. A bike can't commute 20 miles across Houston and I don't think many people can afford to buy a hybrid on the whim of a gas price fluctuation. And unless the consumer goes full electric, he's still relying on gas.
So don't categorize it with groceries. Electricity, water, sure. But not groceries.
This post was edited on 3/30/15 at 12:40 pm
Posted on 3/30/15 at 12:40 pm to MyNameIsNobody
Posted on 3/30/15 at 12:44 pm to LSUAlum2001
GTL isn't dead only postponed until prices go up. They are profitable at the current prices.
Posted on 3/30/15 at 1:08 pm to IT_Dawg
quote:
They also made a ton from tax credits and selling off operations to a foreign country
First off, you even quoted that they sold as asset IN Japan. Does not note the buyer. Please educate us on what foreign country purchased the operation. Secondly, they are a GLOBAL company. They can sell anything they want to anyone they want as long as it isn't illegal.
Exxon Tax Info
They pay some of the highest tax in the world, which directly correlates to the revenue they pull in. I found all of this with a two second google search. Stop posting about things you don't understand.
Posted on 3/30/15 at 1:13 pm to Jim Rockford
this thread is hard to read with so many geniuses present. people making ignorant comments about O/G folk are that, ignorant. the problem here is that people would rather just form an opinion than be educated. not worth even trying. 
Posted on 3/30/15 at 1:14 pm to kingbob
That an f150 baw
Posted on 3/30/15 at 1:22 pm to mikelbr
quote:
So don't categorize it with groceries. Electricity, water, sure. But not groceries.
ok, I won't compare it with groceries. But what about water/electricity? And I'm not picking a fight with you over this, I just don't get the hate the O&G industry gets. I can understand misconceptions or full blown mental retardation, but those who think they get screwed by O&G are delusional.
quote:
A bike can't commute 20 miles across Houston
true, but one can take public transportation if necessary. Or find a job closer to home, or move closer to work.
quote:
I don't think many people can afford to buy a hybrid on the whim of a gas price fluctuation.
then suck it up and pay what the commodity costs! If you drive a gas guzzler (relatively speaking) you do so by choice. No one dictates what vehicle you own. If you can't afford the fuel, buy something more economical.
Posted on 3/30/15 at 1:25 pm to tigerinthebueche
quote:
then suck it up and pay what the commodity costs! If you drive a gas guzzler (relatively speaking) you do so by choice
gas is relatively inelastic and unsubstitutable.
It's fun on a message board. I love all you sonsabitches. Except Festus. He's mean to me. Posted on 3/30/15 at 1:57 pm to TexasTiger1984
Damn, Clarence Cazalot is a LSU alum. Making $43.7M a year
Send me some
Send me some
Posted on 3/30/15 at 2:00 pm to LSUAlum2001
The GTL project was pushed back to 2018 well before oil prices began to fall
Posted on 3/30/15 at 2:09 pm to Supernova28
quote:
The GTL project was pushed back to 2018 well before oil prices began to fall
That's not true.
Posted on 3/30/15 at 2:22 pm to MyNameIsNobody
Fifty grand
One of a kind
One of a kind
Posted on 3/30/15 at 2:23 pm to mikelbr
quote:
inelastic
define this for me? you talking about usage or price?
Posted on 3/30/15 at 2:23 pm to The First Cut
quote:
I also don't get the bashing of Texas' economy. Isn't this America? Why are we rooting for our brothers to fail?
Because (a) jealous and (2) people think all Texans are the assholes you meet who talk about how Texas is the only state in the union that can actually secede legally and would be able to do so thanks to its natural resources,
Truthfully, I have never met a single Texan who gets all gung ho about that type of shite until someone mouths off about how Texas sucks. It's quite funny, really.
Posted on 3/30/15 at 2:24 pm to LSUcjb318
quote:
Have more faith in science. It can be done now. Just not cost efficient yet.
What are you talking about? It can't be done now.
NOTHING on the planet comes close to the energy density of petroleum that isn't radioactive or something. Batteries or hydrogen are a FRACTION of what oil provides:
This isn't some big conspiracy, there isn't a real alternative. Elon might get a few rich people to overpay for less efficient battery cars so they can feel good about themselves, but every single one of those Tesla owners eats fruit or wears clothing that was brought to their market via petroleum. Or Elon himself has the Tesla parts shipped to the factory in diesel trucks. It is all an illusion.
Without oil we don't leap forward into some green utopia of renewable energy. We bring back slavery and put half of humanity on the yoke. Human muscle used to be the best source of energy on the planet until our species was liberated by carbon.
Posted on 3/30/15 at 2:27 pm to tigerinthebueche
quote:
inelastic
define this for me? you talking about usage or price?
While people shift their habits somewhat on account of fluctuating gas prices (drive a little more or less on vacation), most spending on gasoline happens no matter what the price is. People's commutes don't get shorter when the price of gas goes up, manufacturers don't suddenly have to ship their products a shorter distance via truck. Much of gasoline consumption is, relatively speaking, to some degree price inelastic.
Posted on 3/30/15 at 2:40 pm to kingbob
quote:
Much of gasoline consumption is, relatively speaking, to some degree price inelastic.
thanks for clarifying. quote:
People's commutes don't get shorter when the price of gas goes up,
but they can if the individual moves closer to their workplace. Its still the individual's choice. there is no guarantee that your expenses will remain static forever. everything has to be reevaluated as conditions change.
quote:
manufacturers don't suddenly have to ship their products a shorter distance via truck.
right, so they have to raise prices, eat the difference or decide not to produce. Again, there are no guarantees.
Are you suggesting the Oil companies minimize their profit to benefit the enduser?
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