Texas exports are 20 % of US total outpacing other states

CNBC:
Robust demand for Texas oil and gas in the first two months of 2019 pushed the state’s export activity into high gear: triple the national rate and contrasting with a slight decline by California.

The Lone Star State’s exports totaled more than $50.9 billion in the January-February period of 2019, increasing 9% from a year earlier, according to WISERTrade, a trade research firm. For California, total international sales dipped 1% to $28.1 billion in the two months compared with national export growth of 2.6% to $260 billion in the period.

Texas represented nearly 20% of all U.S. exports in the January-February period while California accounted for about 11%. California has seen its share of total U.S. exports fall in recent years while Texas has been growing its share due mainly to the new oil boom.

“Two-thirds of the U.S. increase in exports over these last two months have come from Texas,” said Michael Cox, a former chief economist for the Federal Reserve Bank of Dallas and an executive in residence at Southern Methodist University. “And 99.4% of that is oil and gas.”
...
As new infrastructure come online Texas export of oil and gas is expected to significantly increase in coming months.  Agricultural exports are down for the same period due to the trade dispute with China.  If that gets resolved Texas could see even more growth in exports.

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t
Read more