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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (567663)	5/23/2010 1:10:00 PM
From: tejek	Read Replies (2) \| Respond to of 1576705

Over time, a favorable business climate in TX combined with unfavorable climates elsewhere has brought more industry and business to TX making it less dependent on the energy industry. Yes, TX has a good business climate but so do other states that didn't fair so well during the Great Recession. There is a reason why TX as well as ND, SD and OK didn't do so badly and the primary reason is oil. The oil boom mid decade under the oil president meant that those states entered the recession booming with unemployment rates very low....hell, I believe SD and ND had unemployment rates in the 3's at one point........almost preternaturally low. ND and SD benefited from the discovery of oil in the Bakken Formation in which drilling continues to this day. And of course oil has always motivated states like TX and OK. In addition, TX was lucky........housing never boomed like it did in the other states.......there were little bubble behavior.....so the construction industry hadn't morphed into a dominant industry. So when other states were experiencing huge layoffs in their construction industry that didn't happen in TX. As for TX in general, I don't know enough about the particulars........but I would be a little concerned. TX grows mostly by snagging industry from other states. Its true that Houston has the oil industry and liberal, smart city Austin has lots of home grown industry like Dell but most of the state really relies on snagging manu. plants from other states. And the oil industry ain't all that dependable......look at how Halliburton picked up its corp. headquarters from Houston and moved it to Dubai. Low taxes coupled with a growing population that ain't all that rich has a way of catching up with a state. Just sayin'. I bet CJ can tell us more on that subject.