Petroleum Price Pain & Pleasure

[Rob Sullivan]

It looks like low gas could be around for a while.  While we love paying $1.80 for gas, the drop could hurt the Texas economy.

[Michelle Pickard]

Being a college student I'm still excited about the low gas prices. However, in four short months I won't be. I will have to get a big girl job, a big girl house, and start doing the big girl things. I think that is when I'm going to feel the repercussions of this issue. While it's nice for my wallet now, learning about the much deeper issues tells me that eventually it won't be. 

I think what got my attention was Yuval Rosenburg's article about Texas. He is comparing Texas now and Texas in 1986. He says, "that natural gas prices haven’t plunged in sympathy with crude oil this year as they did in 1986." On the other hand, we are just as dependent on oil in 2015 as in the mid-80s.We are walking in too familiar of territory here. Apparently Texas did well during the 80s, according to Michael Feroli, but recession is still not an encouraging event, per se. I'm confident that Texas would function well in another recession, but that doesn't mean it's welcome!

[Brooke Aten]

Like Michelle said, the current gas prices are really nice especially for a college student. It's nice to be able to get gas and only have to spend about 25 dollars to fill up my car. 

In the article, Feroli points out how that Texas in 1986 was just as reliant on oil as it is today. It is thought that Texas may have a rough future 2015 ahead, but we shouldn't worry about it turning into a nationwide recessional weakness. 

Overall, gas prices have been fluctuating for quite a while now. Within the article, Yuval states how the Texas unemployment rate got as high as 8.3 percent in 2010 and also how the Texas market recovered more quickly then the national one did. Now, since the gas prices have changed so quickly, I think the employment rate might possibly decrease causing there not to be as many employees. This could possibly do deep damage to the Texas economy. But personally, I don't think there is anything to worry about. Texas as a state is more then capable of making it through anything that gets in her way just like she did in 1986. 

 

[Amanda Pelaez]

Gas prices have not been low for a while now. Ive had to pay large amounts of gas because I live in California. Filling up my tank know that gas prices are low, is a huge advantage! Like Michelle mentioned as well, being a college student rather difficult when you have to budget your money. As Rosenburg has stated in his article he displays a contrast from 1986 until now in 2015. He made mention in this article tat the gas prices where not this low and employment percentages were low as well. Hopefully the Texas economy can stay steady despite employment rates and gas rates as well.

The decrease in gas prices and employment affect me as a college student very drastically. If there are no positions open for jobs that will not generate much money. With school bills, and loans, I need a job to have an income. With these low gas prices, my prayer is that the employment rates do not decrease. All I can do is trust in God that he will provide a steady job with income to provide for a future ahead of me. Although things may fluctuate in life, I know that God and his promise will not waiver. I hope that the Texas economy will not suffer but will stay steady and prosper throughout the years to come1