DNC chair: Texas economy no credit to Perry

cbsnews.com ^

[Venturer]

How did anyone as brain dead as she is convince the voters to elect her?

[Iron Munro]

[Milton Miteybad]

can someone please explain how rising oil prices create jobs???

Increased commodity prices tend to intensify the search for additional supplies of that commodity. Those efforts require additional labor. If oil prices increase, energy companies will allocate additional capital to their exploration programs. Presto! Jobs in the upstream sector are created. Not your average Obamajobs paying minimum wage, either. Oilfield jobs pay quite well, although the work is often hard, hot, dirty and dangerous.

Also, the additional production has to be transported, refined and marketed. Poof! More good-paying jobs created...this time in the downstream sector.

The benefit of jobs created in the energy business is that they actually add value to the economy, as opposed to capital-consuming public sector jobs created by Obama.

And that's how higher oil prices create jobs. It's really just Economics 101.

Although I must admit some surprise that anyone on this board would really need such an explanation. ;-)

[God luvs America]

but if you increase your search for the commodity wouldn’t the extra product increase the supply hence push down the price somewhat??? is there any chart that shows increase in supply by companies as oil prices take off???

as far as the additional product being transported so as to be refined and marketed- where is it being transported to?

[TheOldLady]

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[Milton Miteybad]

but if you increase your search for the commodity wouldn’t the extra product increase the supply hence push down the price somewhat??? is there any chart that shows increase in supply by companies as oil prices take off???

Yes and yes. In the case of the latter, oil price surges in the late 70s and early 80s resulted in reserve additions. The most recent price surge, from 2005 to the present, has resulted in gas reserve additions in unconventional gas basins (Barnett, Eagle Ford, Marcellus, Haynesville, etc.) and oil reserve additions in the Bakken in ND (and elsewhere). These reserve additions tend to apply downward pressure on prices (greater supply = lower price), so higher oil and gas prices tend to be a self-correcting phenomenon.

as far as the additional product being transported so as to be refined and marketed- where is it being transported to?

Crude oil is transported from where it is produced (oilfields that are generally far away from consumer markets) to refineries, where it is refined into hundreds of products, including gasoline, then transported by pipeline and truck to your local retailer. It can take six to eight weeks and transportation covering thousands of miles across the globe for a shipment of crude oil to make its way from the oilpatch by truck or pipeline to the shipping terminal, then by tanker to the importing terminal, then by truck and pipeline to the refinery, then by truck and pipeline to the wholesaler, then by truck to the retailer, so you can buy the gasoline and put it in your tank. The whole gasoline supply chain is transportation, often from literally the other side of the world to your corner retailer.

[ken21]

you mean a democrat socialist would not have destroyed the texas economy?

[Rome2000]

I never thought the Dems would find a chair more politically tone deaf then Howie Dean.

Its the Jewfro that's making her deaf.

You would think they would name as DNC Chair someone who wasn't revolting to every real American outside of New York and California

[MNJohnnie]

And that's how higher oil prices create jobs. It's really just Economics 101.

Only problem is that like most Econ 101 theories it is far too simplistic and only looks at the micro, not the macro effects. Yes, higher oil prices create job in a limited sphere but, they are a net loser of jobs in the over all economy picture. The other thing it does not consider is that the jobs are mostly being created outside the USA due to our insane "green" politicians.

High energy prices are the fundamental drag on the US economy.

High Energy prices have an radically negative effect on the economy. High energy prices destroy US Consumer Confidence and they eat up US Consumer’s discretionary spending dollars.

US Consumer spending is the engine that drives the World Economy. Without it any economic recovery will be anemic at best.

US Consumer have seen, in just the last year 40% inflation in the cost of energy. High energy prices effect not only the price of gasoline, but also the price of every good and service the consumer buys. It also drives up the price of the energy the consumer buys to power their homes. It drives up the costs for producers to produce the goods US Consumers buy.

Until the cost of energy is addressed the US, and the world, economic recovery is going to be stagnant at best.

[RoosterRedux]

This point by Wasserman-Schultz was a stupid one to make because it can be so easily disproved by simply looking at the jobs created.

And most likely, though I don't have the details at hand, they were not in the oil industry or military/industrial complex but most likely result of businesses bailing on the Socialist State of California and moving to TX.

[Personal Responsibility]

I hope she continues to talk in the exact same manner from today all the way to election day.

[Arrowhead1952]

The nation's only living blow up sex doll.

Please! Now I have to go find eye bleach.

[Noob1999]

........................Texas’s unemployment rate is 8.2 percent, about one point less than the national average...............

Yeah, that’s because folks in Texas sare still looking for jobs, and are counted in the bogus unemployment statistic.
In other states, folks have just given up so their 20% unemployed are only counted at 9.2%.

[Enterprise]

LOL!

[Cobra64]

From the same person who said a few week ago "Democrats created this economy, we own it."

Yup.

[Noob1999]

........................Texas’s unemployment rate is 8.2 percent, about one point less than the national average...............

Yeah, that’s because folks in Texas sare still looking for jobs, and are counted in the bogus unemployment statistic.
In other states, folks have just given up so their 20% unemployed are only counted at 9.2%.