Still booming? (Houston: statistics, retirement, market)

[Jack Lance]

Saudi Arabia raises Asian oil prices

"Saudi Arabia has reversed course on its pricing tactics with Asian buyers, announcing a significant increase in prices to a market that it had previously tried to woo with discounts.
In an email to clients, Saudi Aramco said it was increasing its Asian prices for light oil delivery in April by $US1.40 a barrel, after months of reductions in the Far East. The Saudi state oil giant also raised prices in the US by $US1 a barrel.
The increases appeared larger than many previous Saudi price fluctuations. In the past, Aramco has raised or lowered its price by as little as a few cents."

Saudi Arabia raises Asian oil prices | The Mercury

The bottom is in !

[Jack Lance]

"Back then, 87 percent of all so-called base-employment jobs were tied to the oil and gas industry, while as of 2010 fewer than half were, according to an analysis by the University of Houston. That explains why Mayor Annise Parker in a recent speech called the 59 percent price-drop of 2014 and 2015 “just a pothole in the road.”

Even the Oil Rout Can't Stop Houston's Economic Boom - Bloomberg Business

Do you agree ? Is Houston still booming ?

[NickelsTX]

Originally Posted by Jack Lance

Mayor Annise Parker in a recent speech called the 59 percent price-drop of 2014 and 2015 “just a pothole in the road."

And we all know our wonderful Mayor doesn't give a crap about potholes.

[testmo]

Houston is definitely still booming. one look at the various skylines transforming and number of people moving here will demonstrate that

[Jack Lance]

Originally Posted by NickelsTX

And we all know our wonderful Mayor doesn't give a crap about potholes.

I knew somebody would make this joke ! But seriously maybe she knows something we don't , either way I like the confidence it shows....

[Pine to Vine]

I'm bumping this thread for a reason. In January I opened this thread:

I worked in the O&G industry for 26 years, before leaving the city 4 years ago upon retirement. I experienced booms as well as the serious bust cycle of the mid-1980s. I know both from reading and from friends still in Houston that the city's been on a hot streak for the past handful of years. I'm also fully aware of the slide in crude prices of the past several months.

I enjoyed my time in Houston and am curious as to what CDer's are experiencing now. So here's my question: Is the city currently undergoing a pause in development, or does it still seem to you that Houston is still in a full-out boom mode?

One of the responders noted that it would be difficult to gauge this very accurately as everything seems to slow down for a while at the start of the year. As oil seems to have stabilized around the $50 mark, I am wondering the effect on the local economy - boom, pause, or scale back - here in Houston mid-year.

In the first half of the year, I noted there were quite a large number of layoffs by the energy engineering firms (Halliburton, Schlumberger, etc). I am not aware of layoffs by any of the majors, (Exxon, Shell, Chevron, BP, etc.) but perhaps others know of layoffs, retirement incentivization and/or pauses in hiring. As for real estate, it is usually a lagging indicator of the economy so I am wondering if it is still going gang-busters or has slowed somewhat.

So I'd appreciate anyone who has an update on the OP I launched in January.

[Jack Lance]

Originally Posted by Pine to Vine

I'm bumping this thread for a reason. In January I opened this thread:
One of the responders noted that it would be difficult to gauge this very accurately as everything seems to slow down for a while at the start of the year. As oil seems to have stabilized around the $50 mark, I am wondering the effect on the local economy - boom, pause, or scale back - here in Houston mid-year.

In the first half of the year, I noted there were quite a large number of layoffs by the energy engineering firms (Halliburton, Schlumberger, etc). I am not aware of layoffs by any of the majors, (Exxon, Shell, Chevron, BP, etc.) but perhaps others know of layoffs, retirement incentivization and/or pauses in hiring. As for real estate, it is usually a lagging indicator of the economy so I am wondering if it is still going gang-busters or has slowed somewhat.

So I'd appreciate anyone who has an update on the OP I launched in January.

I started a tread similar to this a week or so ago that has a poll attached to it. There is also a article from Bloomberg business as to why Houston is still booming.

http://www.city-data.com/forum/houst...ton-still.html

[unohedge]

I work in one of the EPCs here in Houston. I feel Houston is still booming and would continue this way for some time with oil stabilizing and LNG business picking up.
I've been looking to buy a home and I only see home prices going up from last year.

[gwarnecke]

I work for a major. There have been some layoffs, not publicly announced as far as I know. Other majors have announced and executed layoffs - heck, BP has had several rounds of layoffs that started years ago.

My brother works for a large EPC. Upstream work is slowing down, downstream work is picking up. He's as busy as ever and as far as he knows, they haven't had any layoffs.

The sky isn't falling yet.

[testmo]

Majors and some others havent had lay offs that I know of but ive known of some firings where prior to this climate those individuals would have never been fired. Ive known some surprise retirement announcements too. They were all well into retirement age though. But I agree everyone is still really busy. I never see my SO