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Journal Article
Oil and gas rises again in a diversified Texas
The oil and gas industry has been a driver of the Texas economy for the past 40 years. Its contribution declined with the oil-led recession of 1986 and appeared to slip further in the 1990s as the high-tech industry boomed. But oil and natural gas prices have risen since 1999, reaching record highs in 2008. This resurgence has boosted energy activity and factored into the recent economic recovery in Texas, affirming the industry?s long-held prominence in the state. ; An econometric model developed by the Federal Reserve Bank of Dallas documents the state?s evolving energy fortunes since the ...
Journal Article
Spotlight: Texas wind energy: tax breaks, transmission lines key to growth
Texas became the nation's most prolific generator of wind power in the past decade, but the industry's future growth will depend on tax incentives to make it cost competitive and new transmission lines to get electricity to consumers.
Journal Article
Spotlight: upper East Texas in slump, region holds up better than U.S.
As the U.S. and Texas slipped into recession last year, a balanced economy lessened the impact on upper East Texas. In March, the region's year-over-year nonfarm employment was down 0.4 percent, compared with the state's decline of 0.8 percent and the nation's 3.5 percent. Unemployment rates in the region's principal metros are near or below the state's 6.7 percent average.
Journal Article
Noteworthy: oil markets: Saudis abandon WTI price as benchmark
Saudi Arabia's state-owned oil company no longer uses West Texas Intermediate (WTI) crude oil as its pricing benchmark. Saudi Aramco, the third largest U.S. oil supplier, switched to the Argus Sour Crude Index (ASCI) in January.
Journal Article
Noteworthy: dairy squeeze: low prices, high costs hit Texas industry
Production of more than 7 billion pounds a year makes milk one of Texas' top 10 agricultural commodities. However, 2009 is shaping up to be a tough year for the state's dairy producers.
Journal Article
Noteworthy: commercial building: Texas shows signs of weakening
Texas commercial construction held up relatively well throughout 2008--in the broad view, at least.
Journal Article
Noteworthy: energy: oil, gasoline price spikes unlikely in 2009
Journal Article
Commodity futures investing: method to the madness
Just as there are popular indexes that measure the value of groups of stocks, such as the Dow Jones industrial average, there are indexes that do the same for commodity futures.
Journal Article
Market expectations and corn prices: looking into future to explain present
Market expectations of future supply and demand are important in determining current prices for agricultural products such as corn, which are harvested annually and stored for later use. Prices can quickly move when beliefs change?due to new data, for example?even if events far in the future are involved.
Journal Article
What drives diesel fuel prices?
Historically, gasoline has commanded a premium over diesel, but that changed in mid-to-late 2007, when diesel rose above gasoline. In 2007 and 2008, however, gasoline traded higher than diesel only 21.1 percent of the time. This deviation from historic norms raises an interesting question--what drives diesel prices? As with virtually all petroleum-derived products, the story begins with oil prices. Seasonal patterns also play a significant role. Demand for a range of oil-based products changes with the weather, and prices fluctuate as refiners adjust their output mix. Government regulations ...