re: I heard layoffs happened at Schlumberger today

I have no problem with companies making profits in a free-market fashion. In simple economic terms, the profitability of a good is based on scarcity compared to demand.

We're now seeing that the scarcity was artificially contrived. Just like the diamonds industry. The Saudis have decided to just let it flow, and while big oil will still profit (you can be sure of that), just not at the same un-Godly levels they're used to.

My interest really isn't to pile on to you guys. I know this is scary as shite and fricking sucks (the waiting to find out, more than anything).

But the fact is you have made the big bucks producing an (artificially) overpriced commodity. When times are good, I envy you and what I imagine your paycheck to be. But the fact is that you can't get fat and happy and expect a bailout. Part of the premium you get paid is to attract you to what ultimately is a volatile industry. Your bosses will protect those insane margins at all costs so you'd be prudent to toss the illusion of loyalty out the window.

While I can envy you when things are good, I'm not required to pity you one bit when you guys get brought back down to earth. Everyone in some form or fashion needs to decide for themselves if this is the industry and cycles they want to live and die by. A lot of your jobs only exist because you have modern society's balls twisted 4 times around due to your ability to control supply against basically endless demand. When that same ability to restrict supply comes back to bite you in the arse when your friends the Saudis decide they want to frick you, Russia and our friends in North Dakota/Canada, you're paying the same price the economy pays every day when they buy food, groceries, or anything transported over land/air/seas.

Every industry has headwinds, but because they have less control over their own market compared to the O&G, changes are more gradual and seemingly less "violent". The fact that you guys are overemployed because you have benefit so much from controlling your own markets, means that when someone jumps off the bandwagon, you pay it all back overnight.

For some people, it's worth it. But telling me I'm an a-hole for being relieved my gas/groceries/everything under the sun that I buy will go down in price won't move me one bit.

You just have to take the bad with the good in O&G.

Doesn't sound dumb to me

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being relieved my gas/groceries/everything under the sun that I buy will go down in price won't move me one bit.

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Your taxes are going up.

Your Uncle Sam will make up the difference.

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hese same O&G workers are for the most part the same people shouting loudly about no government handouts like welfare and such. Yet they want us to show compassion and play our part with $4 a gallon gas so they can exist.

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+1

No expecting people to pay more for gas so .1% of the population can benefit is awfully close.

Was anyone in the oilfield in 96/97 when oil was $12 a barrel?

I don't know why you're explaining it to me. I'm well versed in the O&G industry. I had family with a lot on the line in this industry.

There are going to be stupid people making huge cash & subsequently spending it like it would last forever; they aren't bright. That's understood from my end.

My question is why are non-O&G people seemingly often upset about O&G highs when they are also more likely to experience the associated lows of a volatile industry? There are a good number on here who are upset at these "such vastly overpaid salaries" but conversely are so quick to tell people to pound sand when things aren't going well.

Risk/reward & all that. Those that can effectively manage the risk associated with the O&G industry should reap higher profits than less volatile & risky industries.

Found one

Name one person who expects people to pay more for gas. Any oil worker with half a brain knows the market determines the prices.