re: I heard layoffs happened at Schlumberger today

Considering your behavior in the other thread, i doubt anyone could have a mature conversation with you on the subject.

I'll just sit back and wait for oil to return to a decent level, then silently revel in how poor your job must be.

FTR i'm not in O&G, but i do support the local industry in my state.

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Considering your behavior in the other thread, i doubt anyone could have a mature conversation with you on the subject.

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Huh?

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I'll just sit back and wait for oil to return to a decent level, then silently revel in how poor your job must be.

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Lower oil allows my business to spend less on product, since fuel surcharges will be lower, dropping the prices on I can give to the customers as well.

It will also allow me and my fellow co-workers to get a raise.

Not to mention, last quarter, we came in $6000 under budget. Imagine how much more under we will come because of this. That leads to me getting an awesome bonus.

Oil has been falling for many months

But it hasn't been cheap for many months.

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Somebody explain to me why gas has been cheap for like a month and people are already being laid off.

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Disposable expense. They can rehire the same individuals in a few months.

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If the field is that unstable, I kind of don't feel bad for people who choose to go into it. They had to know it was a gamble, right?

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Most people aren't complaining, the OT just makes it look this way. I would imagine most oil field guys know it is temporary. If they are contractor level they know the risk.

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I'll just sit back and wait for oil to return to a decent level

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if Keystone pipeline is allowed, then Canadian tar-sand oil can get to market in India and China and the price here will go up some. They can always ship it east to the Great Lakes if we do not build the keystone. Then Euro's will buy it. India will buy Saudi/Emirate oil, "locally".


I read many years ago, there is enough shale in the Rockies to supply all the oil needs of the USA for 500 years.
By then, solar and wind will be optimized.

In the aftermath of someone's anti Israel thread about the deaths of US sailors a generation ago, I looked up something related and I found out that in Israel, as in the USA, oil and gas interests are making it difficult for people who want to exploit solar. Its amazing what greed will do to people.
Koch brothers are mobilizing state legislatures to tax solar in the USA to keep it from competing with o & g. Incredible gall.

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US Steel just laid off 600 workers last week because the demand for pipe has gone down.

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They shutdown plants last year before oil tanked. Their profit margins are razor thin because there is a huge influx of pipe from Asia.

However it brings up a good point as to how this downturn effects other types of companies as well. A lot of vendors and service companies will close down, and they weren't necessarily the guys driving jacked up trucks and buying mud boats.

I'm in environmental consulting and we have clients in various levels of O&G. While we aren't hurting yet I've already had clients ask me to keep costs to a minimum more than before.

Oil forecast at $58 through 2015 and $75 through 2016. LINK

LINK

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The plummeting prices have led transportation experts, business lobbyists and lawmakers to insist that the coming months -- as they negotiate an extension of the federal infrastructure funding bill -- are their best chance in years to increase the 18.4-cent per gallon gas tax that's used to pay for highways and mass transit. Sen. Bob Corker, R-Tennessee, is proposing a 12-cent gas tax hike, offset by other tax cuts, that he's co-sponsored with Sen. Chris Murphy, D-Connecticut. "It's revenue neutral, but at least it would put our infrastructure on strong footing. And that second component seems to get left out of the conversation most of the time," he said during an appearance on "Fox News Sunday."

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Uncle Sam gonna get his.

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Somebody explain to me why gas has been cheap for like a month and people are already being laid off. If the field is that unstable, I kind of don't feel bad for people who choose to go into it. They had to know it was a gamble, right?

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I can't explain it to you. I say this in all humility and charity: You are too dumb to understand based on your question.

Enjoy your $7.50 a gallon gas when it comes. Oh, yeah. And be sure to scream about how we are profiteering when our "gamble" pays off. Frick you.