The Economic Weight Of Oil Explained

When an industry as large as U.S. oil gets hit as hard as it has in recent years, the struggles can weigh on parts of the economy that have nothing to do with energy.

According to the Houston Chronicle’s Lydia DePillis, areas of the country losing a lot of oil-related “base” jobs are likely also losing “non-base” jobs as well.

A region’s economic base is typically the industry and/or manufacturing jobs in a region that extend to markets outside of the local area. For example, London’s financial services industry provides services throughout Europe, which is one of the reasons why there is so much uncertainty about the U.K. economy following the Brexit vote.

Houston is known for its oil industry, but the non-base jobs the city was relying on to help build the its 21st-century economy are already getting dragged down by the oil market. These non-base jobs include restaurants, retail, hospitality, real estate and professional services. While no single segment has a larger presence in Houston than the oil & gas industry, all the non-base jobs combined far outnumber the local oil & gas jobs.

The end result can be seen…

Click here to continue reading

Want to learn more about how to profit off the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common SenseI don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and is always available on your local internet!