{"id":3357,"date":"2014-12-21T14:35:46","date_gmt":"2014-12-21T19:35:46","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3357"},"modified":"2014-12-21T14:35:46","modified_gmt":"2014-12-21T19:35:46","slug":"houston-you-have-a-problem-texas-is-headed-for-a-recession-due-to-oil-crash-jpm-warns-zero-hedge","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3357","title":{"rendered":"“Houston, You Have A Problem” – Texas Is Headed For A Recession Due To Oil Crash, JPM Warns | Zero Hedge"},"content":{"rendered":"

“Houston, You Have A Problem” – Texas Is Headed For A Recession Due To Oil Crash, JPM Warns | Zero Hedge<\/a>.<\/p>\n

It was back in August 2013, when there was nothing but clear skies ahead of the US shale industry that we asked “How Much Is Oil Supporting U.S. Employment Gains<\/a>?” The answer we gave:<\/p>\n

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The American Petroleum Institute said last week the U.S. oil and natural gas sector was an engine driving job growth.<\/strong>\u00a0Eight percent of the U.S. economy is supported by the energy sector, the industry’s lobbying group said, up from the 7.7 percent recorded the last time the API examined the issue. The employment assessment came as the Energy Department said oil and gas production continued to make gains across the board. With the right energy policies in place, API said the economy could grow even more.\u00a0But with oil and gas production already at record levels, the narrative over the jobs prospects may be failing on its own accord<\/strong>….\u00a0The API’s report said each of the direct jobs in the oil and natural gas industry translated to 2.8 jobs in other sectors of the U.S. economy<\/strong>. That in turn translates to a\u00a0total impact on U.S. gross domestic product of $1.2 trillion, the study found<\/strong><\/span>.<\/p>\n<\/blockquote>\n

Two weeks ago we followed up with an article looking at “Jobs: Shale States vs Non-Shale States<\/a>” in which we showed the following chart:<\/p>\n

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And added the following:<\/p>\n

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<\/a><\/a>…click on the above link to read the rest of the article…<\/span><\/span><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

“Houston, You Have A Problem” – Texas Is Headed For A Recession Due To Oil Crash, JPM Warns | Zero Hedge. It was back in August 2013, when there was nothing but clear skies ahead of the US shale industry that we asked “How Much Is Oil Supporting U.S. Employment Gains?” The answer we gave: […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[588,1775,1264,2063],"class_list":["post-3357","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-oil","tag-oil-price-collapse","tag-recession","tag-texas"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3357"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3357\/revisions"}],"predecessor-version":[{"id":3358,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3357\/revisions\/3358"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}