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Old 04-16-2009, 08:20 PM
 
Location: Midessa, Texas Home Yangzhou, Jiangsu temporarily
1,506 posts, read 4,280,302 times
Reputation: 992

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It looks like Texas cities are still doing pretty well. Perhaps surprisingly Odessa is number 1 in the nation. West Texas represent Yo!

Anyway I say surprisingly because I do hear people complain about the job market a lot these days. With the downturn in oil prices I would expect that except that prices aren't that low. A few years ago the prevailing opinion was that if oil prices stayed about $30 bbl then things would be ok. Prices in the mid $40s would be great. Now I hear people saying that oil companies must have prices of $60 bbl to break even. Something just didn't seem right about that. Why the sudden increase to break even? Then I thought maybe its because of of tighter credit. Whereas before oil companies could easily borrow from banks based on expect future revenue maybe now they have to use cash.

I don't know, but I have felt that the economic picture in Odessa is much better than some would lead us to believe and now I have something more than a hunch to back that up.

Back to the list. Texas looks good and I am especially happy to see Corpus Christi doing well. I have a soft spot in my heart for Corpus.

The list:

All Cities Rankings - 2009 New Geography Best Cities for Job Growth | Newgeography.com
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Old 04-17-2009, 08:37 AM
 
17,440 posts, read 9,268,656 times
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Neither the Oil companies nor Texas or the USA have anything to do with the price of oil. OPEC/supply demand/commodity futures control oil prices. Oil will rise in price because Russia, Venezuela and Iran can't continue to exist on the current rates. Several Mid-East countries have upcoming elections - when those are done (June) then expect a series of ME incidents which will raise gas prices just in time for summer vacations.

Gas will shortly raise in price due to the increase of oil (inevitable) and rising taxes on gasoline.

As to the city job report - you will notice that Texas has 7 of the top 10. Part of the criteria for this report is "past performance". Texas has been voted the #1 state in the USA for "Best Business climate". Just over 50% of all new jobs in the USA were from Texas in 2007, almost 80% of new jobs in 2008. It's not the price of oil that controls jobs in Texas - it's the Business Climate, overall economy and low taxes.
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