According to The Wall Street Journal, falling oil prices present a mixed message for the economy. Is the drop in gas prices an economic stimulus package, or an economic stall? The implications of the current price of oil are multiple, and complex. And the stock markets are responding to increased volatility. The S&P index dropped nearly 40 points, and a key measurement of market volatility (called the “fear index” or Vix) is up 12% in recent days.
While the Texas job market continues to be a source of pride and expansion within the Lone Star State, the outlook in certain sectors (particularly related to exploration in oil and gas) is not so rosy. For market leaders at the Energy Digital Summit in Houston, there’s an opportunity to take action in the face of uncertainty, with a career session on January 23, 2015. Here are the details:
Depending on your viewpoint, the current state of affairs in the energy industry could be a boom or a bust. For consumers, estimates are that reduced gas prices will inject as much as $1.1 trillion into the economy. Lower fuel prices boost GDP, and consumer spending (a much-needed bump, ever since the global financial crisis of a few years ago). But, for companies in Texas – particularly PE companies – the contraction in the market translates into a contraction in employment.
For states like Wyoming, Alaska and the Dakotas, the pain is particularly acute, according to the the Dallas Federal Reserve Bank. For energy professionals in Texas and Louisiana, two states with 40% of the US refining capacity, the need for refining remains relatively strong. Therefore, the diversity in the Texas economy could provide mixed messages – boom, bust or status quo – depending on a company’s position within the supply chain.
For more information on how you can attend this career seminar, visit http://www.energydigitalsummit.com/
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