He isn't the only reason but he is a reason. The last thing that businesses want is uncertainty and there's a ton of that right now
Yeah, it really does. Your buddy is cheering on layoffs because he thinks it will make landscaping help cheaper. Really cool sentiment. MAGA to the bone.
I could not read the article from Justa. But it appears they are cleaning up waste before they one their headquarters from California to Houston in the one I posted. I bet they are going to drill baby drill and make their shareholder (bet you own some/assume you have a retirement account that surly has a mutual fund or ETF with oil ties) money.
Why? More oil means lower prices which means less profit for investors. This is across the board, not isolated to a few divisions. What it shows me is MAGA being typically behind the ball and relying on tropes instead of facts. Fact: We have been "drilling baby drilling" for the last 4 years and now we're sitting on a surplus. Unfortunately for you and I, we need the price to be above a certain mark or US oil is no longer profitable. So, these cuts are for the usual reasons, cost cutting and forecasting of a slowdown in production.
Most companies overhired during the Pandemic to accommodate the boom in retail and services. The economy is contracting post stimulus, which was expected earlier in 2023/24, but here we are. I do think a mild recession is possible later this year and heading into 2026. This is more stagflation with inflation going up, wages staying flat and interest rates holding steady through the year. I think Trump is playing cards from the 1980/90s playbook. Simply not going to work with today's economy and workforce. Thats what happens when you elect two fossils in a row...
45% of Companies Expect Layoffs in 2025, Some Commit to Pay Cuts ‘Facing the Chop’: Mass Layoffs Predicted in 2025
price of oil and oil futures does not justify investing into new wells. It was an empty campaign slogan. “Our stocks will be absolutely crushed if we start growing our production the way Trump is talking about it,” said Bryan Sheffield, a Texas oilman who contributed more than $1 million to Trump’s latest campaign. “Trump’s Oil and Gas Donors Don’t Really Want to ‘Drill, Baby, Drill” https://www.wsj.com/business/energy...8e99e?st=WHAnaE&reflink=article_copyURL_share Liam Mallon, President of ExxonMobil’s Upstream division, recently reinforced this sentiment, stating: “A radical change in production is unlikely because the vast majority, if not everybody, is primarily focused on the economics of what they’re doing.” Mallon’s perspective reflects a broader industry trend—oil producers remain focused on financial sustainability rather than short-term production boosts.“ Drill, Baby, Drill? Why Oil Producers Are Hesitant Despite Trump’s Push
Yep, good old fashioned supply and demand. They are not going to drill baby drill unless their is a good return on the investment. Bumper sticker slogans don't make their shareholders money.
Later this year I expect we will finally see that recession that the MAGAs here have been predicting for the last 3 years.
Trump will be directly responsible for hundreds of thousands of people losing their jobs. That will have a big impact on the economy.
The AI promise for efficiency and cost take out is ubiquitous conversations in board rooms. Anyone that doesn’t believe there will be an increase in jobless claims in the next 4 years is missing the plot.
Eh...You are looking for a reason to be upset with anything Trump does. Moves like this do not happen overnight. Shoot. It has been years for them to put in place the move from California to Texas though it would have likely been better to do for a long time.
