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Started By
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3
Posted on 1/5/15 at 2:52 pm to magildachunks
quote:
Awesome.
Will help my industry as costs will go down due to lower transportation fees.
Also, more disposable income for people
As a general notion, crude being so low is a bad thing for the economy. The "more disposable income for people" argument does not come close to making up the difference of the deleterious effect of low crude oil prices in the American economy. Also, a decrease in transportation costs will not subsidize or make up for the loss of oil in the marketplace. Not even close. Moreover, those savings lag behind the drop in oil. All you have to do is look at airline prices to see that.
This is really fricking bad. The last time crude was this low, we entered the worst economic crisis in recent history. Add to that the facts that the global economy is still not great and that Russia is completely fricked, we are teetering on the brink of another collapse, which is pretty damn terrifying.
On the other hand, a grab for cheaper oil stocks is probably advisable.
Posted on 1/5/15 at 2:53 pm to GreatLakesTiger24
My baller buddy (in the O&G business) was moaning that he may have to sell the new BWM X5 he just gave his 16 daughter. 
Posted on 1/5/15 at 2:53 pm to Salmon
yeah no shite
Posted on 1/5/15 at 2:53 pm to malvin
Lower costs means more pay for me.
So...
So...
Posted on 1/5/15 at 2:55 pm to magildachunks
It's still moronic regardless of how obvious it should be.
Posted on 1/5/15 at 2:56 pm to Salmon
quote:
I do kinda feel sorry for all those PETE students about to graduate dreaming of those $100k starting salaries
I don't. It's over saturated anyways and they should know how volatile the field is before they take that route.
Posted on 1/5/15 at 2:56 pm to meauxjeaux2
Will we see less people on here bragging about buying $60K trucks just because the money is falling out of their wallets?
I would hope people making good money in good times are saving for bad times. My guess is not.
I would hope people making good money in good times are saving for bad times. My guess is not.
Posted on 1/5/15 at 2:56 pm to magildachunks
My company pays for my fuel and my wife may use a tank a month. So there is no saving for me. Just the possibility of a pay cut. My job will be safe though, so there is that.
Posted on 1/5/15 at 2:57 pm to Salmon
quote:
I do kinda feel sorry for all those PETE students about to graduate dreaming of those $100k starting salaries
Job market was flooded anyway.
TAMU was sending out emails warning new students of this fact
Posted on 1/5/15 at 2:57 pm to anc
This makes my trip home from PA, a whole lot cheaper in April.
Posted on 1/5/15 at 2:59 pm to anc
...as the rest of the general public rejoices
Posted on 1/5/15 at 3:01 pm to yellowfin
Companies started trimming the fat about 3 months ago...it's going to take another 9 months or so before we start feel the upswing. Drilling on the shelf has just about ceased, lower supply and higher demand will increase the price, combined with less fat, things will rebound before the end of the year.....however it will come at the expense of people losing jobs and companies shutting down or going bankrupt.
Posted on 1/5/15 at 3:02 pm to LoveThatMoney
quote:
As a general notion, crude being so low is a bad thing for the economy
I bet you work in the oil field or oil field related industry.
Posted on 1/5/15 at 3:03 pm to gaetti15
quote:what gave it away?
I bet you work in the oil field or oil field related industry
quote:
LoveThatMoney
Posted on 1/5/15 at 3:03 pm to fightin tigers
quote:have an upvote!!
If the price of Makers Mark was cut in half I would be rejoicing. Now THAT'S savings for me
Posted on 1/5/15 at 3:04 pm to tgrbaitn08
quote:
lower supply and higher demand will increase the price,
O&G experts, how and when is this going to happen?
Posted on 1/5/15 at 3:04 pm to gaetti15
quote:
I bet you work in the oil field or oil field related industry.
Given the screen name, good guess.
Posted on 1/5/15 at 3:04 pm to Spirit of Dunson
quote:
Spirit of Dunson
upvote for you
Posted on 1/5/15 at 3:06 pm to GreatLakesTiger24
quote:companies reduce drilling and/or production. Some companies go out of business.
O&G experts, how and when is this going to happen?
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