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re: I heard layoffs happened at Schlumberger today
Posted on 1/13/15 at 8:42 pm to thesoccerfanjax
Posted on 1/13/15 at 8:42 pm to thesoccerfanjax
quote:
Well why don't we pay just a little bit more for absolutely everything, so that everyone can have jobs?
Great idea. Let's just increase the minimum wage and pay a few cents more for a Big Mac and a buck or two more at the Wal-Mart checkout counter.
0
Posted on 1/13/15 at 8:43 pm to Double Oh
quote:
Was anyone in the oilfield in 96/97 when oil was $12 a barrel?
Yep, and got out too. Nobody thought it would ever get back up over $20 again back then.
Make no mistake, these huge companies have no loyalty. It was an important lesson to learn at a young age.
I worked for Halliburton at the time. They were hiring guys out of college 10-20 at a time. These guys would move down from ND, MT, etc. and buy new houses, pay tax on their vehicles to get LA tags. 6 months later, 2 weeks pay and a handshake.
Posted on 1/13/15 at 8:48 pm to AUjim
quote:
No, but overpaying for a commodity due to what would be viewed as excessive overhead in any other industry just rubs me a little.
Price of gas at the pump has very little to do with salaries.
Posted on 1/13/15 at 8:49 pm to AUjim
quote:
No, but overpaying for a commodity due to what would be viewed as excessive overhead in any other industry just rubs me a little.
Do you know what overhead is?
Posted on 1/13/15 at 8:50 pm to AndyCBR
quote:
Yep, and got out too. Nobody thought it would ever get back up over $20 again back then.
Make no mistake, these huge companies have no loyalty. It was an important lesson to learn at a young age.
I worked for Halliburton at the time. They were hiring guys out of college 10-20 at a time. These guys would move down from ND, MT, etc. and buy new houses, pay tax on their vehicles to get LA tags. 6 months later, 2 weeks pay and a handshake.
Yep and im still in it. Worked for Smith in 96/97.
Posted on 1/13/15 at 8:53 pm to SundayFunday
quote:
Found one
Found one what?
Posted on 1/13/15 at 8:55 pm to Double Oh
I'm considering selling my house in a few months and moving into the mountains. Denver is well diversified so while I don't think the jobs lost in O&G will hurt it much, I'm worried about house prices when all these smaller O&G companies start defaulting on their loans. I think loans are going to get hard to come by and home prices are going to tank everywhere. Of course if oil comes back up soon the loans will flow and the housing market here will continue to climb. I'm trying to time that sweet spot of the high market before the collapse.
Posted on 1/13/15 at 8:57 pm to saintforlife1
What happens when we come take your jobs.
Posted on 1/13/15 at 9:03 pm to Nado Jenkins83
quote:
What happens when we come take your jobs.
Posted on 1/13/15 at 9:07 pm to AndyCBR
quote:
these huge companies have no loyalty
What's bad is when things pick back up soon, they'll need people fast and bring in foreigners.
Posted on 1/13/15 at 9:07 pm to yellowfin
quote:
Do you know what overhead is?
I think that went over his head.
Posted on 1/13/15 at 9:09 pm to Swoopin
quote:
You just have to take the bad with the good in O&G.
Agreed with everything you said. I work for a consulting engineering firm for petro/chem. while we have not seen any slowing down as of yet if you are in this business you know what to expect. When times are good it's awesome. Raises every 6 months, sometimes in the double digit percent. But you have to understand every 5 to 10 years you can expect to be laid off for a while. It always comes back but when times are good you better be smart with your money and save it because it will not always be there. Most of the time I think I am way over paid but there is a reason for that. Kind of looking forward for a down swing. Spend a little time at the house and let the wife bring home the bacon for a while.
Posted on 1/13/15 at 9:15 pm to LSUEEAlum
I just went from consulting to owner myself
Luckily I'm in petrochem and not pure O/G so I think we'll have a great year profit wise and end up funding a lot of new projects
Luckily I'm in petrochem and not pure O/G so I think we'll have a great year profit wise and end up funding a lot of new projects
Posted on 1/13/15 at 9:25 pm to saintforlife1
Oil this low is not good for ANYONE. We need to find a medium soon.
Posted on 1/13/15 at 9:27 pm to Louie T
My responses are contributions to the topic moreso than direct responses to you. I'm pretty sure we completely 100% agree and are somehow going back and forth over it . Like those 2 UF players blocking eachother last year.
ETA:
However I do have the differing opinion that oil has been priced above its rightful equilibrium for some time. Sure we agree that there is a volatility risk/reward that the industry takes, I just happen to think the average point in the wave should be lower than it has been.
Most of the volatility has to do with stagnant demand/recession. This particular dip has to do with Saudis hopping off industry bandwagon and letting her rip. I think this correction is a little more telling/honest than most.
. Like those 2 UF players blocking eachother last year. ETA:
However I do have the differing opinion that oil has been priced above its rightful equilibrium for some time. Sure we agree that there is a volatility risk/reward that the industry takes, I just happen to think the average point in the wave should be lower than it has been.
Most of the volatility has to do with stagnant demand/recession. This particular dip has to do with Saudis hopping off industry bandwagon and letting her rip. I think this correction is a little more telling/honest than most.
This post was edited on 1/13/15 at 9:32 pm
Posted on 1/13/15 at 9:27 pm to donRANDOMnumbers
quote:
Oil this low is not good for ANYONE. We need to find a medium soon.
It is for me
Posted on 1/13/15 at 9:27 pm to Sparkplug#1
No. Please tell me what overhead is.
F*ck me for using the wrong word. I'll take my medicine after you look it up.
F*ck me for using the wrong word. I'll take my medicine after you look it up.
This post was edited on 1/13/15 at 9:36 pm
Posted on 1/13/15 at 9:29 pm to GeeOH
quote:
...and I do that about 8 times per month. My wife fills about 5.
You and your wife are driving a total of around 6000 miles a month and none of that is paid for by the companies you work for?
You're doing it all wrong.
Posted on 1/13/15 at 9:30 pm to Croacka
quote:
Luckily I'm in petrochem and not pure O/G so I think we'll have a great year profit wise and end up funding a lot of new projects
Is that because you expect crude prices to stay low for a long time? Or are those projects unrelated to that (like based on cheap nat gas instead)?
Posted on 1/13/15 at 9:32 pm to donRANDOMnumbers
quote:
Oil this low is not good for ANYONE. We need to find a medium soon.
How about NEUAX?
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