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Originally Posted by Howitzer
How much is oil related? I know Alabama is doing well with manufacturing and I thought LA was also on deck for aero manufacturing along with big military investments.
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the civilian jobs are mostly in forestry, which surprises most people. The petrochemical industry is pretty high up and that is fairly immune to the economic fluctuations -- everybody needs plastics and fuel and fertilizer, etc.
State government gets the lion's share of it's revenue from O&G. We had a billion dollar surplus this year that looks like a billion dollar shortfall next year. A 2 billion dollar swing in a year is going to give a lot of public agencies a whiplash.
Any governor (or president) is loved during booming economic times -- Clinton and Jindal's recent experience are perfect examples. The reverse is also the case.
I'll bet a pre-inflation dime that Dubyuh would be the darling despite the war, if the economy was expanding. That's how he got re-elected, despite the opposition calling him everything imaginable. They just couldn't beat a fat-n-happy electorate. Nowadays if Dubyuh cried for a rope when drowning the majority would toss him Wylie Coyote's famous anvil.
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