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Message
re: Texas economy is cratering
Posted on 3/30/15 at 11:04 am to Jack Daniel
Posted on 3/30/15 at 11:04 am to Jack Daniel
quote:
I just don't understand the hate for an industry that allows people in your region
How am I hating?
It is a free market however and O&G should learn to live by it like everyone else in the USA instead of mocking people that enjoy cheaper gas and insisting we pay more so they can keep their jobs. That's communism.
When the RE bubble popped I didn't see the same O&G guys telling everyone to keep paying inflated prices for houses so I could keep building and developing. I had to lay off a bunch of people and even quit using many subs who also had to lay off people.
Why is O&G more special than any other free market?
1
Posted on 3/30/15 at 11:11 am to stout
I see it more as bad for long term gas prices. Sure, you're reaping cheaper prices at the pump today, but...
It's halting a lot of current exploration and probably any future exploration. The smaller companies are going broke because they can't recoup the costs they incurred over the last 5 years.
Once oil prices creep back to previous $80-$100 levels, you won't see anyone putting money into an O&G startup because they know it they can be screwed financially by the billionaires overseas trying to hold market share.
Saudi isn't doing this for the hell of it. It's a plan that will easily make the money back that they are losing with the current per barrel prices.
It's halting a lot of current exploration and probably any future exploration. The smaller companies are going broke because they can't recoup the costs they incurred over the last 5 years.
Once oil prices creep back to previous $80-$100 levels, you won't see anyone putting money into an O&G startup because they know it they can be screwed financially by the billionaires overseas trying to hold market share.
Saudi isn't doing this for the hell of it. It's a plan that will easily make the money back that they are losing with the current per barrel prices.
This post was edited on 3/30/15 at 11:12 am
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