re: Prices Fall to a Six-Year Low for U.S. Oil

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That's just not true. Stop trying to push that narrative.

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I don't know why people act like this is a lie.

Look, New Orleans and Houston aren't going anywhere, but to act like the rest of the state(s) won't be affected is asinine. Even in large metro areas you're going to feel some negative effects.

I'm sure the hair dressers, financial advisors, and car salesmen in Detroit thought they were insulated as well...

ETA: I'm not saying $45/bbl will kill off the entire economy, but the people that applaud the drop are just as bad as the chicken-littles.

Regardless of your industry, there will be effects. Many people will be fine, but a slowdown in the biggest driver of your local economy will most certainly have negative effects.

Jesus Christ

gas price since 2008 has been a major rip off. it should stay around $2 gallon at all times. several cents going up due to inflation is understandable, but jumping to $4.50 overnight (which it did) and staying there is greedy people fricking everybody over.

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I'm sure the hair dressers, financial advisors, and car salesmen in Detroit thought they were insulated as well...

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What an asinine comparison.

I'm in dfw anyways. Let me know when the banks disappear then I'll be worried.

you dumbasses saying that the greedy people were just ripping people off are worse than the ones screaming the sky is falling.

Nobody was ripping you off dumbass. Its called supply and demand, plain and simple. there was a lot higher demand than supply, so prices rose. Now Asian growth is slowing so the opposite is true. nobody was out to get you.

Hell the oil companies were making a fraction of what the government was per gallon of gas so if anybody was out to frick you it was the federal and state government. :banghead:

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Explain to me how lower oil prices is going to effect me working in a hospital.

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Don't know where you live, but let's say it is a town like Lafayette. Let's say 30% of the people in that town get laid off. They lose their cushy health insurance and now require government funded health care. This puts a strain on the budget and the government comes in and starts dictating which doctors can be seen due to pricing. Health care industry just got affected.

My wife worked in the hospitality and tourism industry. She spoke with her old office and their budget was cut in half due to expectation of hotel stays going down due to reduction in business and conferences.

My dad works in the medical field with sports medicine. Deals with mostly high school athletes. All the kids whose parents made that oil field money probably aren't going to be spending quite as much on things physical therapy and treatments that they were willing to shell out money for before. Your kids shoulder soreness after pitching may no longer seem like a big deal when you don't have an income.

No one is saying that accountants, doctors, and librarians are going to be living under bridges. But to say that the oilfield is not a huge part of the economy of the states on the gulf coast is stupid. And when it's such a big part (I would say damn near 40% of peoples income in South LA is tied to oil), their pain will be felt at least somewhat by everyone when their pocket books close up. It's ignorant to believe otherwise.

Houston, NOLA, and even Lafayette and Houma type towns are not going to become ghost towns. But it's not going to be business as usual either.

I find myself spending money elsewhere in the economy now that it cost $40 to fill up my truck vs $75. I would guess this true for residents of 45-46 plus states in the US. The other 300M or so folks in the US.

As far as what oil companies profits vs. Fed gov's cuts, get better lobbyists?

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You say that but if you live in LA or TX and this gets extended longer than a year you are going to feel it no matter what you do for a living.

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Yep. I'll feel it in my wallet when I have more spending money because I'm not spending it at the pump.

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Ummmm, if you aren't bringing in any money to your town, your economy isn't going to survive.

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Shreveport isn't reliant on oil though is what he was saying. Nothing will change for them or very little at worse.

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A thriving health care industry is not going to keep a town afloat. The medical industry is going to make it's money mostly off of residents, and if you aren't bringing in outside money, you've got a problem.

Military is as finicky as the oil field. What happens when they don't reach a budget deal and no one gets paid for 3 weeks. What happens when they make huge budget cuts, or move a lot of equipment to a different base. I saw that with my FIL in the Air Force.

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The scenarios you laid out could happen if oil was $200 per barrel or $20. Ft Polk is looking at reducing like 5200 troops which will kill Leesville and hurt Alexandria. That has nothing to do with oil.

I'm sure the state has a plan to increase gas taxes if the prices stay down


Lord knows our roads need more money put in them