I45Tex wrote:If you think the Middle East is a mess now, just wait till we knock its economy out from under it?
There's plenty of uses for oil and gas besides car fuel. But if something better comes along, the oil kings in Texas are more than foolish if they try to keep the state's industry artificially relevant. Invent a better battery, but don't politically prolong the death spiral of fossil fuels.
France Plans To Ban Sale Of Diesel And Gas Vehicles By 2040
July 6, 2017
As part of a set of ambitious new environmental goals, France expects to do away entirely with the sale of diesel and gas vehicles by 2040.
...He admitted that doing away with the sale of all fossil-fuel-powered cars in the world's sixth-biggest economy would be challenging, even to the point of constituting a "revolution," but he said French carmakers would be up to the task, according to Reuters.
DPatel304 wrote:None of this is surprising, but I'm not concerned at all for North Texas. We are pretty diversified at the moment, and that doesn't seem to be changing anytime soon. The Oil&Gas industry has been in a slump for a while, and it hasn't hurt us all that much. Houston has been hit pretty hard, but hopefully they can find a way to recover.
Cord1936 wrote:Totally agree .. whatever pain the oil downturn was going to cause Dallas has already happened ... which has been minimal. Ft. Worth has been more negatively affected as it has a greater Oil & Gas dependence.
The Dallas-Plano-Irving metro's enormous diversification has kept it soaring during the downturn.
DPatel304 wrote:Honestly, I'd say this may have actually helped DFW in a weird way. Before the downturn, it seemed like Houston was our biggest competitor (in Texas) and we were basically neck and neck with them (they may have actually been ahead, depending on what you're measuring). Texas was booming, and people all over the nation were eyeing Houston, DFW, Austin, and San Antonio. Now, Texas is still booming, but Houston doesn't exactly have the same appeal as it did a few years ago, and it doesn't help that the near future doesn't look all that hot. Seeing as how they were our closest competitor, this, by default, puts DFW in the clear front runner seat as far as Texas goes.
muncien wrote:Interestingly enough... I was riding the train (Amtrak... yes, people actually do ride it) across western Colorado last week, and the National Park Ranger who was giving the trails & rails presentation explained that over the last few months, many of the fracking wells that were closed down years ago as oil tanked are now seeing a flurry of activity again. Apparently, they have gotten the process down to a manageable cost that even with oil prices where it is today, they can make a profit. There was evidence all around... shale was about to boom once again. I'm thinking the oil industry still has some run in it for the near future. It's the middle east and Russia who are more to suffer by what now appears to be a low/stable oil price.
Cord1936 wrote:Another European country moving toward banning traditional combustion engines ... this time England with a goal of 2040.
Britain to ban sale of all diesel and petrol cars and vans from 2040
Plans follow French commitment to take polluting vehicles off the road owing to effect of poor air quality on people’s health
Anushka Asthana and Matthew Taylor, The Guardian, Tuesday 25 July 2017 17.38 EDT
tamtagon wrote:What is Texas doing to take the economy past oil?
Texas' state and local budgets got $26M a day from oil industry in 2016 — and that's low
https://www.dallasnews.com/business/ene ... t-year-low
A report released this morning from the Texas Oil and Gas Association calculated the extraordinary amount of government money generated by the industry. Oil and gas pumped $9.4 billion into government budgets through taxes and royalties in 2016
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