Even though from a consumer standpoint, it’s offsetting and the higher prices tend to slow.”īut Hayes said people like him don’t benefit. “We’re seeing record amounts of exports so far this year both crude oil and refined products,” Foreman said.” As a result of that, Texas, as a whole, tends to benefit constructively from prices as they go up. The Houston TranStar Traffic Mapping System allows users to toggle traveler information map features on and off, view detailed maps of the Houston region, zoom in and out of specific map areas, and click on hot links to various traveler information directly from the maps. exports close to 10 million barrels of oil per day, according to the chief economist, Dean Foreman, at the trade organization, Texas Oil and Gas Association. “We create a circular sort of benefit in this region that doesn’t translate outside of this area,” von Biedenfeld said. He explained it as a “circular” benefit because employees at oil companies may have lunch at a local restaurant, go to the zoo on the weekends, live and pay taxes in the Houston area.
“As long as there are Texas workers who are needed at these drilling sites, as long as there are Texas workers that need to monitor the various procurement processes, the shipping and logistics maritime of these things that’s great for the Texas economy particularly the Houston region.” It’s also beneficial for job retention,” he said. “That’s excellent for many of the shareholders for some of these oil companies. Von Biedenfeld said no one lives paying more at the pump but as prices go up it does help the Houston economy. “I just try to at least put it about half a tank depending on how far I have to travel that week.” “I never put it all the way,” Hayes said. “It’s going to mean that those local gas stations, those pumps either are going to increase prices or you’re going to see more of that plastic on there saying, ‘we simply couldn’t adhere at a price where we could recoup so we’re not going to refuel until next Tuesday,’” he explained.ĭrivers like Lloyd Hayes said he’s already adjusting his daily routine to manage current prices. According to his bio on the university website, his research focuses on “legal, regulatory, economic, sustainability, and supply cycle concerns for water rights, procurement, compliance, ethics, and leadership topics.” A summary map shows various aspects of ground- water availability in Arizona. UH Downtown Assistant Professor of Business Dietrich von Biedenfeld said he “absolutely” expects gas prices to increase. ( Geiger - PTT ) W86-04599 ROLE OF RECREATIONAL BOAT TRAFFIC IN INTERLAKE. In April, it cut 1.6 million barrels per day, which came after cutting two million barrels in October 2022. It’s the third time the group has done so. HOUSTON – The Saudi Arabia led OPEC announced plans to cut oil production.
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