Update: Understand that if prices stop job growth, and 70% of all job growth is in the oil idustry, this will only make things more impossible for Hillary, should she run. She will be running on her husbands record and away from Obama. Will the GOP be effective in countering that strategy? Probably . . . but for certain, she while be tied to the incumbency and will suffer defeat for the same reasons McCain fell victim to the 2008 economic collapse.
Sense September and the continuing reduction in gas-at-the-pump prices, 240 oil rigs have been or will be closed. The average wage for those working in the drilling/gas manufacturing industry, is $111,000 . 20,000 of these wage earners, directly involved in gas/oil production, will be laid off in the coming months. These lay-offs have already been announced.
More than this, these specific industry lay-offs, will have wide ranging, negative effects on our economy. For example, Fox Business is telling us that some 140,000 people, in Texas alone, will be effected by the slow down within the oil/gas production industry.
Understand that our GDP for 2014, came in at a slow but recovering 2.4%. 9 million Americans, working in 2006, are no longer employed and have given up on future employment, Now, we are about to add to that number.
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