Economic Trends and The Oil and Gas Industry September 15, 2015 Carlsbad, New Mexico Jim Peach Department of Economics and International Business and Arrowhead Center New Mexico State University [email protected]
Economic Trends and The Oil and Gas Industry September 15, 2015 Carlsbad, New Mexico Jim Peach Department of Economics and International Business and Arrowhead.
Dec 29, 2015
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Economic Trends and The Oil and Gas IndustrySeptember 15, 2015
Carlsbad, New Mexico
Jim PeachDepartment of Economics and International Business
and Arrowhead CenterNew Mexico State University
The US economy:Not bad, but not booming
• Since 2009 Q3 (Beginning of recovery)– GDP increased in 22 quarters– GDP fell in 2 quarters (2011 Q1) and 2014 Q1)
• Average rate of growth since 2009 q3= 2.2 percent• Average 1957 to 2007 = 3.4 percent• 59 consecutive months of employment gains
“Economy not bad but not booming”Warren BuffetCNBC: September 8, 2015
Photo public domain from Wikipedia commons
US GDP
Jobs
Not Bad!
2015 is NADA forecast
Housing
Scary Stuff?
“The fundamentals of the economy are sound.”
Mike Jackson, CEO, AutonationCNBC Sept 2, 2015
Photo from autonation website
What will Janet (and friends) do?
Public domain photos Wikipedia commons
What will Janet (and friends) do?
Some Global Issues
Source: https://www.cia.gov/library/publications/the-world-factbook/graphics/ref_maps/political/pdf/world.pdf
World population = 7.1 bWorld GDP = $74 T
China Matters
Source: Map CIA World Factbook; Data World Bank
Population = 1. 4 billionGDP = $10.4 Trillion
Greece matters but Turkey is more important
Source: CIA World Factbook
Greece population 11.0 million GDP $240 bTurkey population 75.0 million GDP $800 b
New Mexico: Weak recovery with few bright spots
Photo by Jim Peach Sept 2014
NM Rank = 49
Weak Recovery in New Mexico
Not pretty in most sectors
Unemployment Rate
Source: NM Department of Workforce Solutions, Monthly Labor Review
Unemployment Rate
Source: NM Department of Workforce Solutions, Monthly Labor Review
Population: first decrease in 50 years
New Mexico Poverty Rank = 1
Per Capita Income: NM and its neighbors
NM Rank = 45
US Crude OilEIA estimates released Friday Sept 11, 2015
June 15 9,296June 14 8,676
Cushing inventories?
US Crude OilEIA estimates released Friday Sept 11, 2015
June 15 9,296April 15 9,612
NM Crude OilEIA estimates released Friday Sept 11, 2015
Percent Change June 2014 to June 2015+27.8%
2014 total = 123.6 mmb 338 bpd
Thank you!
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