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Old 03-07-2016, 02:15 PM
 
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The construction industry used to dominate the Phx area. Not so much any more, the economy has diversified a lot in the last decade.

Houston has always been an oil boom town.
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Old 03-08-2016, 01:21 PM
 
Location: East Central Phoenix
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Mod cut.

Quote:
Originally Posted by ajonesaz View Post
The construction industry used to dominate the Phx area. Not so much any more, the economy has diversified a lot in the last decade.

Houston has always been an oil boom town.
Yes, Phoenix's economy has diversified, but it could be more so. Real estate, construction, and seasonal tourism are still dominant forces. I'm glad the tech sector is growing, and I would also like to see Phoenix be a larger financial center on a national & global scale than what it is. I will say, however, that we do tend to be a fairly good regional hub for notable financial institutions.

Last edited by PJSaturn; 03-08-2016 at 01:40 PM.. Reason: Off-topic snark.
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Old 03-12-2016, 08:20 AM
 
Location: Phoenix, AZ
2,653 posts, read 3,047,472 times
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Quote:
Originally Posted by new2colo View Post
Phoenix is reliant on real estate and hospitality industry in much the same way that Houston is reliant on the oil industry. Housing prices in Phoenix can and will plummet again. It's the boom/bust cycle we go through. As the drought intensifies and Phoenix starts running out of water, I would expect Phoenix prices to hit rock bottom.
News flash: Phoenix is not running out of water.
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Old 03-12-2016, 09:46 AM
 
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We actually profit mightily from the oil bust here. Gas is much cheaper for consumers and businesses, the part of our power production from natgas and uranium has much cheaper fuel prices too. The asphalt for our roads and parkings is cheaper and so are asphalt shingles and rhe rubber for our tires... and so on. It's a big win win for us.
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Old 03-12-2016, 10:29 AM
 
4,624 posts, read 9,278,272 times
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Quote:
Originally Posted by Potential_Landlord View Post
We actually profit mightily from the oil bust here. Gas is much cheaper for consumers and businesses, the part of our power production from natgas and uranium has much cheaper fuel prices too. The asphalt for our roads and parkings is cheaper and so are asphalt shingles and rhe rubber for our tires... and so on. It's a big win win for us.
One of the biggest employers in AZ, and at one point the largest cap company based in AZ is suffering due to low oil prices. Freeport McMoRan which bought Phelps Dodge and also have oil exploration business. I know they had layoffs inAZ but it may have been just at one of the mines and not corporate.
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Old 03-12-2016, 01:39 PM
 
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Originally Posted by asufan View Post
One of the biggest employers in AZ, and at one point the largest cap company based in AZ is suffering due to low oil prices. Freeport McMoRan which bought Phelps Dodge and also have oil exploration business. I know they had layoffs inAZ but it may have been just at one of the mines and not corporate.
You're right I totally forgot about copper. That's not doing well at all. This company also had atrocious timing about entering the oil exploration business shortly before the collapse in prices. I perfect case of "diworsification". On the other hand the mining activities also profit from lower oil prices as they are quite energy-intensive.
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Old 03-12-2016, 05:15 PM
 
35 posts, read 37,800 times
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Quote:
Originally Posted by Potential_Landlord View Post
We actually profit mightily from the oil bust here. Gas is much cheaper for consumers and businesses, the part of our power production from natgas and uranium has much cheaper fuel prices too. The asphalt for our roads and parkings is cheaper and so are asphalt shingles and rhe rubber for our tires... and so on. It's a big win win for us.
meh..profit? natgas has been cheap for years so if you haven't looked your gas bill..it hasn't moved. Very little of our electricity is from natgas. Uranium? price has nothing to do with the price of oil. Do you buy a lot of asphalt? I can guarantee you the price of asphalt is the same as it was two years ago. lol..shingles in Phoenix? Tires made in AZ? come on now. Tell me about the big win, the price of everything but gasoline has risen in the last two years. A few bucks in your pocket every week is all you get.

It could actually be a loss since the US dollar is so high it kills tourism and exports, Canadians don't spend anything down here anymore.

some facts

  • Arizona's Palo Verde Nuclear Generating Station, rated at 3,937 net megawatts, is the largest nuclear power plant and the second largest power plant of any kind in the nation.
  • Arizona ranked second in the nation in utility-scale electricity generation from solar energy in 2014.
  • Arizona, the 15th most populous state, ranked 44th in the nation in per capita energy consumption in 2013, partly because of the state’s small industrial sector.
  • Arizona's only operating coal mine, Kayenta, on the Navajo and Hopi reservations, supplies the 7-to-8 million short tons burned annually by the Navajo Generating Station's three 750-megawatt units.

Last edited by Mike Warner; 03-12-2016 at 05:25 PM..
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Old 03-12-2016, 09:40 PM
 
2,806 posts, read 3,178,395 times
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Quote:
Originally Posted by Mike Warner View Post
meh..profit? natgas has been cheap for years so if you haven't looked your gas bill..it hasn't moved. Very little of our electricity is from natgas. Uranium? price has nothing to do with the price of oil. Do you buy a lot of asphalt? I can guarantee you the price of asphalt is the same as it was two years ago. lol..shingles in Phoenix? Tires made in AZ? come on now. Tell me about the big win, the price of everything but gasoline has risen in the last two years. A few bucks in your pocket every week is all you get.

It could actually be a loss since the US dollar is so high it kills tourism and exports, Canadians don't spend anything down here anymore.

some facts

  • Arizona's Palo Verde Nuclear Generating Station, rated at 3,937 net megawatts, is the largest nuclear power plant and the second largest power plant of any kind in the nation.
  • Arizona ranked second in the nation in utility-scale electricity generation from solar energy in 2014.
  • Arizona, the 15th most populous state, ranked 44th in the nation in per capita energy consumption in 2013, partly because of the state’s small industrial sector.
  • Arizona's only operating coal mine, Kayenta, on the Navajo and Hopi reservations, supplies the 7-to-8 million short tons burned annually by the Navajo Generating Station's three 750-megawatt units.
We may not produce a lot of stuff here but certainly consume it. And lower oil prices make it cheaper. With oil still at $100 a lot of our basic goods and materials would be a lot higher, from roads to shingles etc. Low oil prices are a big boost to our economy and an equal detractor in the oil patch.
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