Jun 212015
 
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Oklahoma’s crude oil producers are expected to experience a 38.1% drop in revenue from crude oil production in 2015. In dollar terms, this reflects a $4.35 billion swing from the record $11.4 billion in crude oil revenue produced in 2014. Our pic of the week illustrates both the amount and value of crude oil produced annually in Oklahoma since 1981.

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Jun 032015
 
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The ongoing drop in the number of drilling rigs searching for crude oil now exceeds the collapse in natural gas rigs suffered back in the 2008-2009 period. Our pic of the week illustrates the similarity in size and pace between the respective oil and gas drilling collapses. Crude rigs are off  Continue reading »

May 142015
 
 May 14, 2015  Graphic, Pic of the Week Tagged with: ,  No Responses »
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The string of weak retail sales reports in the first four months of 2015 are not an indication of slowing overall economic activity. Instead, recent weakness in the retail data merely reflects the steep fall in sales at gasoline stations since November 2014. In our pic-of-the-week, retail sales minus gasoline station sales continues to show a very steady uptrend, even in the most recent data.

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Feb 242015
 
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Oil is trying hard to bottom near $50/barrel, but inventory build-ups keep getting in the way. Our pic-of-the-week shows weekly commercial crude oil inventories in the U.S. and they keep getting larger and larger. Crude in storage managed to post an all-time high of 425.6 million barrels last week. Not only does this extend the uptrend but it also represents a bounce well above the trend.

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Feb 082015
 
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Yes, those states with the highest education levels do tend to have the highest average incomes. In fact, the relationship is remarkably strong and consistent across the 50 states. Our pic-of-the-week shows the relationship between per capita income and the average number of years of schooling across the states in 2013. As you might suspect, the traditional high income (e.g. MA, CT, MN, CO, NJ, MD) and low income (e.g. WV, MS, AR, KY, AL) states generally have education levels to match.

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