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Started By
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re: Oil baws, is O&G dead?
Posted on 11/13/17 at 9:40 am to whoisnickdoobs
Posted on 11/13/17 at 9:40 am to whoisnickdoobs
More like 47% just looked it up
1
Posted on 11/13/17 at 9:44 am to fareplay
Land work is blowing up right now. As far as Deepwater, I keep hearing that oil will have to hold steady at $60.00 or more per barrel. Right now WTI is at $56. So only time will tell. The days of it being $100 per barrel like it was a few years ago are behind us...
This post was edited on 11/13/17 at 9:47 am
Posted on 11/13/17 at 9:46 am to fareplay
That G in O&G stands for gas...natural gas. The same companies that get the O get the G.
Posted on 11/13/17 at 9:47 am to toddzilla
quote:
The days of it being $100 per barrel like it was a few years ago are behind us...
eh...lots of conflict in the ME right now. could easily lead to skyrocketing prices
Posted on 11/13/17 at 9:47 am to dpd901
quote:
but demand for Oil for gasoline engines will steadily decrease to the point where Lousiana's economy in its current form will be obsolete.
It's fair to make the correlation between the O&G Industry and Louisiana's economy, but where do you suppose the energy to power these engines will come from?
Posted on 11/13/17 at 9:51 am to fareplay
It is
Sell all your O&G stocks immediately
Sell all your O&G stocks immediately
Posted on 11/13/17 at 9:51 am to ElRoos
So let's talk about the G part of this equation.
We are starting multi-million dollar gas pipeline projects damn near monthly.....sometimes 2-3 times per month. Not to mention projects that expand or revamp lines that are already in production.
So I wonder if you guys think people like Boardwalk, Columbia Gulf, TransCanada, etc would be funding these big projects if NG transport will become obsolete inside of 20 years????
We are starting multi-million dollar gas pipeline projects damn near monthly.....sometimes 2-3 times per month. Not to mention projects that expand or revamp lines that are already in production.
So I wonder if you guys think people like Boardwalk, Columbia Gulf, TransCanada, etc would be funding these big projects if NG transport will become obsolete inside of 20 years????
Posted on 11/13/17 at 9:51 am to ElRoos
Batteries charging batteries charging batteries charging batteries ad infinitum
Posted on 11/13/17 at 9:53 am to fareplay
quote:
Not only tesla, Volvo said full electric by 2030 and gm said will develop electric versions for all models.
Time is changing baw.
And where does that electricty come from?
Posted on 11/13/17 at 9:53 am to fareplay
O&G industry is transforming in preperation for the electric car revolution, but worldwide demand is still increasing. Also, how to do propose generating all that electricity for those cars without the "G" in O&G.
Posted on 11/13/17 at 9:53 am to yellowfin
Are companies still laying folks off around the area? Seems like the players remaining are the ones to stay at this point.
Posted on 11/13/17 at 9:57 am to LSU316
quote:
So I wonder if you guys think people like Boardwalk, Columbia Gulf, TransCanada, etc would be funding these big projects if NG transport will become obsolete inside of 20 years????
Not to mention the O&G products are used in creating the truck nuts the OT baws love so much... It isn't going away anytime soon folks.
Posted on 11/13/17 at 10:00 am to fareplay
Gasoline and diesel demand will flatten. Oil demand will too. Natural gas will spike. You gotta make electricity out of something.
Posted on 11/13/17 at 10:00 am to NIH
Most companies are staffed for the current work load. Salaries a down due to rates being cut but it's holding steady.
I quit hiring laid off oil and gas guys because 6 months in they get that call and run straight back to Midland.
I quit hiring laid off oil and gas guys because 6 months in they get that call and run straight back to Midland.
Posted on 11/13/17 at 10:02 am to Nado Jenkins83
That's a huge amount. Yeah there will still be people employed to extract oil to make plastics, but if you reduce the demand, it will be enough to make many change industries.
Posted on 11/13/17 at 10:04 am to Breesus
quote:
Not only tesla, Volvo said full electric by 2030 and gm said will develop electric versions for all models.
Time is changing baw.
And where does that electricty come from?
Eventually, as in a long time from now, it will come from solar power. Solar Energy is the long-term future of our global society. O&G is the present and short-term (next 100 years) future. With fracking and the giant oil patch in West Texas, I anticipate deep sea drilling to slowly die out. Louisiana is fricked.
Posted on 11/13/17 at 10:06 am to fareplay
35 years ago the projections were we would be out of untapped oil reserves by NOW. There was even a Time magazine cover depicting the Earth with one drop of oil leaking out of the bottom of the planet with the title "Out of Oil" or something like that.
Instead we have more proven oil reserves than we've ever had.
And 35 years ago it was forecast we'd all be driving electric cars by now.
So they were 0 for 2 in their forecasts.
The latest forecast I just found is that by 2050 electric car SALES (not the percent of electric cars being driven) will be approximately 50% of all cars sold.
Currently all electric new car sales remains below 1% of total car sales. If hybrid electric/gasoline sales are included, the percent of new car sales for those types of vehicles goes all the way up to 1.8% of total new car sales in the U.S.
That projection makes some major assumptions regarding improvements in battery technology including car batteries will able to be fully recharged in the time it takes to eat a meal rather than the current several hours.
Fossil fuel energy will remain the least expensive and most efficient way to power vehicles for at least the next 30+ years.
Instead we have more proven oil reserves than we've ever had.
And 35 years ago it was forecast we'd all be driving electric cars by now.
So they were 0 for 2 in their forecasts.
The latest forecast I just found is that by 2050 electric car SALES (not the percent of electric cars being driven) will be approximately 50% of all cars sold.
Currently all electric new car sales remains below 1% of total car sales. If hybrid electric/gasoline sales are included, the percent of new car sales for those types of vehicles goes all the way up to 1.8% of total new car sales in the U.S.
That projection makes some major assumptions regarding improvements in battery technology including car batteries will able to be fully recharged in the time it takes to eat a meal rather than the current several hours.
Fossil fuel energy will remain the least expensive and most efficient way to power vehicles for at least the next 30+ years.
Posted on 11/13/17 at 10:11 am to cave canem
quote:
Upgading our grid capacity alone to charge all the cars would take over a decade if we started today
Grid space is becoming more and more available. It's a wonder what simple things like LED lights have done.
It would help that most charging would be done off peak too.
This post was edited on 11/13/17 at 10:12 am
Posted on 11/13/17 at 10:13 am to yellowfin
You’re not alone regarding not hiring former oil and gas workers. For me, it definitely was a negative stigma in the eyes of the interviewer while I was searching for work in the Lafayette area. I realized that it would behoove me to pack up and move out of the state. Everything worked out really well and I’m very glad I made the jump.
Posted on 11/13/17 at 10:35 am to fareplay
Short answer no
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