Category Archives: Oil

ADP oil and gas jobs down

Just getting started? “Payroll processor ADP said this week that the mining industry, which includes oil and gas drilling, shed about 2,000 jobs last month after gaining an average of 3,000 a month in 2014.” U.S. Steel to lay off … Continue reading

Posted in Employment, Oil |

Plunging Oil Prices Test Texas’ Economic Boom

And it’s not just the first order consequences of lower oil revenues and reduced capital expenditures. There are substantial multipliers as that income gets ‘respent’ not only in Texas but throughout the US and beyond. Again, seems most all US … Continue reading

Posted in Credit, Employment, Oil |

Saudi Arabia Raises Price of Main Oil Grade for Asian Buyer

More on Saudi price changes. Maybe the mainstream will wake up to the fact that the price went down because of Saudi price cuts, and not because of excess supply, etc. But maybe not… Saudi Arabia Raises Price of Main … Continue reading

Posted in Oil |

Saudis stabilizing price

Saudi Aramco Narrows Arab Light Asia OSP Discount to $1.40 By Sherry Su (Bloomberg) — Co. raises official selling price to a discount of $1.40/bbl to Oman/Dubai benchmark crudes for Feb. shipments, from Jan. OSP of $2 discount, according to … Continue reading

Posted in Oil |

Texas drilling permits down 50%, mtg apps

Texas drilling permits dropped 50 percent, Railroad Commission reports By James Osborne Oil drilling activity in Texas is falling dramatically, as the steep decline in crude prices since the summer takes hold, state regulators reported Tuesday. The Texas Railroad Commission … Continue reading

Posted in Employment, Oil |

oil related jobs at risk?

Lots of oil related jobs about to vanish seems:

Posted in Comodities, Employment, Oil |

OPEC leader vows not to cut oil output even if price hits $20

The Saudis never ‘cut production’ They just set price and let the world buy what it wants at their price. No one seems to know that. As no one ever asks if they are going to raise price. OPEC leader … Continue reading

Posted in Oil |

Wither exports and oil rigs

The narrative is that as foreign oil producers see their incomes fall, directly or indirectly they will fewer US goods and services, aka, US exports. Just read the highlighted part about exports: Kansas City Fed Manufacturing Index Highlights Tenth District … Continue reading

Posted in Oil |

Bankers See $1 Trillion of Zombie Investments Stranded in the Oil Fields

Wonder if Janet factored this in? Bankers See $1 Trillion of Zombie Investments Stranded in the Oil Fields By Tom Randall Dec 18 (Bloomberg) — There are zombies in the oil fields. After crude prices dropped 49 percent in six … Continue reading

Posted in Oil |

Yellen vs Mosler

At her press conference Janet Yellen stated that the net effect of the drop in oil prices is that of a tax cut, and therefore supportive of US output and employment. My take is that the cuts in spending due … Continue reading

Posted in Fed, Oil |