samagon Posted January 9, 2015 Share Posted January 9, 2015 I hope construction doesn't stop, slow down, maybe it can do that, but for the last few years Houston has been growing by over 100k people per year, the number of housing units coming on line, while I don't have more than my finger in the wind, hasn't kept up with that demand. Even if the city grows by 0 people this year and next, they still need to build. Oil prices be damned, we have a lack of housing in Houston and there are two things that can fix that, build, or people need to leave. The latter may happen as a result of oil prices, but so far most of the oil companies are reducing or stopping hiring, not laying off, and even if they do lay off, will it be at a rate that exceeds the number of people moving here? Link to comment Share on other sites More sharing options...
toxtethogrady Posted January 9, 2015 Author Share Posted January 9, 2015 So either the drop will have no effect, or everyone is acting like a Christian Scientist with appendicitis: https://www.bisnow.com/archives/newsletter/houston/3799-6-economists-take-on-oil-prices-and-texas-economy/ Link to comment Share on other sites More sharing options...
mkultra25 Posted January 12, 2015 Share Posted January 12, 2015 Return with us now to those halcyon days of 1986 (h/t to Leon Hale, via Twitter): Link to comment Share on other sites More sharing options...
jgriff Posted January 15, 2015 Share Posted January 15, 2015 Phillips 66 just cancelled a bunch of midstream projects. Some we in the early stages and others had not been started yet. Link to comment Share on other sites More sharing options...
JLWM8609 Posted January 16, 2015 Share Posted January 16, 2015 Schlumberger announced that 9,000 layoffs are coming. The layoffs started during the last quarter of last year and will continue through 2015.http://abc13.com/business/schlumberger-confirms-9000-layoffs-coming/476864/ Link to comment Share on other sites More sharing options...
samagon Posted January 16, 2015 Share Posted January 16, 2015 then there's this:http://www.trefis.com/stock/paa/articles/274579/plunging-oil-prices-lead-to-u-s-refining-boom/2015-01-14 but that doesn't make it all roses:http://news.yahoo.com/high-noon-gulf-coast-canada-saudi-oil-set-120357826--finance.html Link to comment Share on other sites More sharing options...
Slick Vik Posted January 20, 2015 Share Posted January 20, 2015 Baker Hughes 7000 layoffs Link to comment Share on other sites More sharing options...
LTAWACS Posted January 21, 2015 Share Posted January 21, 2015 Result of their merger. Lots of overlap. Link to comment Share on other sites More sharing options...
IronTiger Posted January 21, 2015 Share Posted January 21, 2015 Yeah, one thing some people aren't remembering from the 1980s was the collapse of the S&L banks. Again, because of the diversification of Houston and other features, I think probably the worst of the downturn will be cancellation of big projects. Personally, I'd like to see slowdown in Inner Loop townhomes. It's like an invasive species. Link to comment Share on other sites More sharing options...
mkultra25 Posted January 21, 2015 Share Posted January 21, 2015 Personally, I'd like to see slowdown in Inner Loop townhomes. It's like an invasive species. Townhomes: the kudzu of residential architecture. Link to comment Share on other sites More sharing options...
toxtethogrady Posted January 26, 2015 Author Share Posted January 26, 2015 Sure, things look threatening now, but what would happen if oil went up to $200 a barrel? http://www.bloomberg.com/news/2015-01-26/opec-s-el-badri-sees-200-oil-possible-with-lack-of-investment.html Link to comment Share on other sites More sharing options...
Montrose1100 Posted January 26, 2015 Share Posted January 26, 2015 Sure, things look threatening now, but what would happen if oil went up to $200 a barrel? http://www.bloomberg.com/news/2015-01-26/opec-s-el-badri-sees-200-oil-possible-with-lack-of-investment.html Prices as high as $200 probably won’t happen because “a move back above $100 will bring the shale oil drillers out in force as they can relatively quickly react to rising prices.” toxtethogrady I do enjoy your posts on here and particularly on SSP. "More companies looking Downtown may fuel new office building demand (or something along those lines)." Followed by a link with 1 company looking for +/- 30,000sqft. Link to comment Share on other sites More sharing options...
democide Posted January 26, 2015 Share Posted January 26, 2015 BP will be freezing all pay worldwide this year and then I read this: Weinstein said there's talk that Irving-based Exxon Mobil Corp. (NYSE: XOM) or another major oil company could buy British Petroleum. http://www.bizjournals.com/dallas/blog/2015/01/who-wins-in-the-18b-energy-transfer-partners-deal.html?page=all Sounds like BP is in major trouble, and it has been with its court battles, but especially now with oil as low as it is. Link to comment Share on other sites More sharing options...
Slick Vik Posted January 27, 2015 Share Posted January 27, 2015 Major layoffs at GE coming Link to comment Share on other sites More sharing options...
Naviguessor Posted January 27, 2015 Share Posted January 27, 2015 Bet you can't wait, slick. I don't know how. But I think I can almost hear you smile as you type those words. Your tone, or lack there of, is just down right tacky. Link to comment Share on other sites More sharing options...
samagon Posted January 28, 2015 Share Posted January 28, 2015 Major layoffs at GE coming Slick, GE does layoffs pretty much every year. Link to comment Share on other sites More sharing options...
bachanon Posted January 28, 2015 Share Posted January 28, 2015 Note that all of the energy company layoffs are from "global" workforce numbers and not necessarily Houston layoffs. Link to comment Share on other sites More sharing options...
Slick Vik Posted January 28, 2015 Share Posted January 28, 2015 Slick, GE does layoffs pretty much every year.Ge oil and gas? Link to comment Share on other sites More sharing options...
HoustonMidtown Posted January 28, 2015 Share Posted January 28, 2015 Houston named #1 fastest growing city http://www.forbes.com/sites/erincarlyle/2015/01/27/americas-fastest-growing-cities-2015/ Link to comment Share on other sites More sharing options...
Slick Vik Posted January 30, 2015 Share Posted January 30, 2015 ConocoPhillips announces future layoffs Link to comment Share on other sites More sharing options...
Houston? Posted January 30, 2015 Share Posted January 30, 2015 ConocoPhillips announces future layoffs Which companies are adding jobs? Do you know that? Link to comment Share on other sites More sharing options...
arche_757 Posted January 30, 2015 Share Posted January 30, 2015 ConocoPhillips announces future layoffs I was under the impression they *might* have to lay off employees? Not that they were for 100% certainty. Link to comment Share on other sites More sharing options...
Slick Vik Posted January 30, 2015 Share Posted January 30, 2015 I was under the impression they *might* have to lay off employees? Not that they were for 100% certainty.Seems very likely from internal Emails Link to comment Share on other sites More sharing options...
Slick Vik Posted January 30, 2015 Share Posted January 30, 2015 Which companies are adding jobs? Do you know that?Do you? I'm not going to live in denial. The low oil prices are going to have a big effect on the houston economy. Apartment rents will tumble and they will give concessions and the housing market is soon to follow. Link to comment Share on other sites More sharing options...
Slick Vik Posted January 30, 2015 Share Posted January 30, 2015 Weatherford is going to announce layoffs within two weeks, 7.5-10% of workforce Link to comment Share on other sites More sharing options...
Slick Vik Posted January 30, 2015 Share Posted January 30, 2015 HOUSTON – Petroleum producers took 94 oil-drilling rigs off the market in the United States this week as sub-$50 oil continued to wreak havoc on the oil industry, Baker Hughes reported Friday.It was the biggest one-week decline for oil rigs since 1987, the earliest year of Baker Hughes data available. That year, the oil industry had faced another oil bust that left hundreds of rigs idle or repossessed by banks, which sold them for scrap.This week’s drop left 1,223 oil units up, the lowest number in three years.http://fuelfix.com/blog/2015/01/30/oil-rig-count-falls-by-94-in-biggest-drop-since-1987/ Link to comment Share on other sites More sharing options...
arche_757 Posted January 30, 2015 Share Posted January 30, 2015 Its safe to say the boom is over. So to answer the thread question - no. But, I don't think its all doom and gloom like people are saying. Bad for the oil field production people but things could pick-up quickly unless the national economy tanks. I don't think we're looking at a repeat of the 1980s crash. At least we should hope not! Kiss any transit or livability projects good bye if that happens. I think the better discussion to have is: How else should Houston diversify its economy following the latest slump in the oil patch? Link to comment Share on other sites More sharing options...
UtterlyUrban Posted January 31, 2015 Share Posted January 31, 2015 Weatherford is going to announce layoffs within two weeks, 7.5-10% of workforceWill these cuts be in Houston? Link to comment Share on other sites More sharing options...
Slick Vik Posted January 31, 2015 Share Posted January 31, 2015 Will these cuts be in Houston?Some Link to comment Share on other sites More sharing options...
Slick Vik Posted February 1, 2015 Share Posted February 1, 2015 More cuts coming from schlumberger Link to comment Share on other sites More sharing options...
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