HOUSTON, Texas – Despite a sharp downturn in the price of oil, Houston remains the top Texas city for the sales of luxury homes and ranks fifth in the nation. This ranking was reported from Coldwell Banker Previews International’s spring 2015 luxury market report by Paul Takahashi with the Houston Business Journal.
Iran, which has had its oil exports restricted between 2012 and 2014 by economic sanctions so its exports were virtually cut in half, would likely increase its imports if the U.S. and the other P5+1 nations make a deal regarding Iran’s nuclear program. Their increased exports might cause American gas prices to dip, leaving consumers happier until the Iranian nuclear program becomes operational.
Putin’s return leaves more questions than answers for Russia; The talking points of the Russian and Chinese internet trolls; Oil prices continue to crash
We will finally learn, after more than 40 years of not knowing, what the free market supply/demand price of crude truly is. This knowledge will make it harder for secretive governments and corporations to manipulate prices in the future, while strengthening domestic production to weather supply shocks in the future.
In 2014, GDP growth bounced back in the spring and summer from a tough winter, but in the fourth quarter, it fell off to 2.6 percent. History indicates the country should be doing a lot better—simply, too many prime working-age Americans are despondent and have permanently dropped out of the workforce.
The government of Venezuela, believed to be the most oil-rich nation in South America, is considering raising gas prices to keep the national economy afloat, though such a move could spark protests and unrest in a nation already rife with political tension.
King Abdullah of Saudi Arabia has died aged 90 after suffering with pneumonia for the last few weeks. The king ruled Saudi Arabia since 2005 and has been credited with bringing in moderate reforms to the conservative Muslim country. He
HOUSTON, Texas – Nine thousand workers are set to be laid off by Texas-based oil giant Schlumberger. The oil tool services company said it must fire 9,000 workers because of plummeting crude oil prices and a slow-down in 2015 production and exploration. The employee reduction comprises about 7.5 percent of the company’s 120,000 global labor force.
President Obama and his minions, who refused to believe that increasing U.S. oil production would drive the price of gas into the ground, are now eating oily crow.
Texas Comptroller of Public Accounts Glenn Hegar released the Biennium Review Estimate (BRE) on Monday in Austin. He predicted Texas will have $113 billion available for general purpose spending during the 2016-17 biennium. This represents a 9.5 percent increase over the 2014-15 biennium. The new Comptroller predicted a moderate growth rate during the coming two years.
Texas Governor Rick Perry predicted “This is going to be a painful period of time” in regards to the ever falling price of oil. The remarks came Friday as Perry was speaking to a conservative forum in Austin.
Despite tumbling oil prices, Saudi Arabia’s oil minister has insisted the country will not slash production in order to keep prices up. Brent crude oil – whose per barrel price is used as a world bench mark – dropped by another
Lower gas pump prices could mean a loss of jobs and lower tax revenue for the State of Texas. The rapidly dropping gasoline prices are a result of the price of oil dropping into the $55 per barrel range. The
