Tuesday, October 14, 2008

Something positive

From cnbc.com: (hat tip sm_landlord)

Bakersfield, California is known for three things: Buck Owens, Merle Haggard, and oil. All three were always pretty good at sad songs. But oil's boom over the last year has helped rejuvenate Bakersfield's fortunes.

It is one of the few places in America where the economy is growing, according to Moody's Economy.com. And even as oil prices come back down, they remain at levels elevated enough to unleash billions of dollars in new drilling in Bakersfield's Kern County, the largest oil-producing county in the lower 48.

This is helping offset an awful foreclosure problem in the area. The video clip has some interviews I did with a couple of local oilmen, Chad Hathaway, who runs his own operation, and Steve Black, the VP of Operations for Bonanza Creek Energy. These guys are not spending money based on $100 oil. As Chad Hathaway told me, "I base it on $30 oil."


Anonymous said...

The Federal Reserve is Guilty of Helping Create the Global Financial Meltdown

Many investors and concerned citizens around the world are showing their outrage at what the Federal Reserve has done to the American economy with their easy money policies which caused the credit & real estate bubble and subsequent global financial meltdown.

Join the thousands who are signing & commenting on the Abolish the Federal Reserve Petition at http://www.petitiononline.com/fed/petition.html

Ron Holland
He is a former banker and retired president of a small Swiss owned investment broker/dealer licensed for business in 47 states.

Anonymous said...

Hmmmmmmm interesting

Anonymous said...

Something positive...........no comments? NOW that IS very interesting!

Anonymous said...

Bakersfield is diverse and has something to offer everyone. Even the mall has really upscale stores but there are great local centers too like the Ming Around the Corner Center on Ming/Stine that seems to bring in lots of customers too. Way to go Bakersfield

Anonymous said...

ROFLMAO "Tierra Vista" in en espanol, literally "DIRT VIEW"