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1
Posted on 3/30/15 at 11:21 am to LSUAlum2001
quote:
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.
The US is more to blame for the oversupply (which is overstated) than the saudis. All they did was decide not to cut production to keep prices propped up. It's the US that has been pumping more and more oil. Why is it the Saudis responsibility to cut production to keep prices high? I know it's what they've done in the past but they have no responsibility to continue to do so.
And i work in the o/g business btw
Posted on 3/30/15 at 11:24 am to Cosmo
quote:
Cosmo
What field of work are you in?
Posted on 3/30/15 at 11:24 am to mikelbr
Hard to feel sorry for CEO's making 20-40 million a year salaries. I mean what the frick? What human is worth that much money? And to laugh at the regular joes struggling to make ends meet when gas prices are up. The industry is full of waste top to bottom.
Chevron CEO salary-$22.2 million
Conocophillips salary-$19.3 million
Exxon Ceo-$40.9 million thats $20k an hour for those counting.
Chevron CEO salary-$22.2 million
Conocophillips salary-$19.3 million
Exxon Ceo-$40.9 million thats $20k an hour for those counting.
Posted on 3/30/15 at 11:27 am to Tommy Wayne
quote:
Hard to feel sorry for CEO's making 20-40 million a year salaries
I'm not disagreeing that salaries for CEO's are ridiculous but you're a dumbass if you think it's only O/G CEOs making that type of money.
Go look at any large company in IT, Pharm or any other industry and you'll see the same trend.
Forbes Top 10 CEO Pay 2013
This post was edited on 3/30/15 at 11:28 am
Posted on 3/30/15 at 11:27 am to Tommy Wayne
Nobody feels sorry for the CEOs. They will continue to make a ton of money regardless. It's the "regular joes" who work in the industry that are losing their jobs that I do feel for, it's a circumstance of the industry though
Posted on 3/30/15 at 11:30 am to stout
Sure, projects that are too far along to hold/cancel are moving forward.
The $14 billion GTL projects is dead for now.
The $14 billion GTL projects is dead for now.
Posted on 3/30/15 at 11:32 am to RogerTheShrubber
quote:
It could definitely hurt Houston. Not in a Detroit kind of way, but it could be quite a bump.
Could? Sure. You're already seeing it affect real estate insofar as stuff isn't selling like hotcakes anymore and a lot of developer financing has halted for new projects. Projects in progress are still going, though. Unless oil doesn't recover at all, Houston will be fine.
Posted on 3/30/15 at 11:35 am to TexasTiger1984
quote:
The US is more to blame for the oversupply (which is overstated) than the saudis. All they did was decide not to cut production to keep prices propped up. It's the US that has been pumping more and more oil. Why is it the Saudis responsibility to cut production to keep prices high? I know it's what they've done in the past but they have no responsibility to continue to do so.
Well, to be fair, a lot of what Saudi is doing is not to screw over the US, whose economy is way too diversified to really feel the sting of a low price per barrel, but to screw over the other OPEC countries, including Iran. Additionally, it is probably being encouraged by U.S. foreign policy so as to make it even harder on Russia.
Posted on 3/30/15 at 11:35 am to Tommy Wayne
quote:
What human is worth that much money
When that human is able to run a business and create more profit, of course they can be. Most of the time, the bulk of thier payouts are in stock options. If he/she makes the company run better, they make more. The CEO's for the both cmpanys I have worked for make as much as Chevrons and CP, just to use examples you posted, and I am nowhere newar the O&G field.
Posted on 3/30/15 at 11:35 am to Tommy Wayne
quote:
Tommy Wayne
There is so much stupid in your posts.
Posted on 3/30/15 at 11:38 am to LoveThatMoney
Chevron CEO overseas a company with 64k employees with revenue of 210+ billion dollars, 22 million dollar salary is nothing, and probably his market value id assume
Drew Brees makes that plus endorsements due to his market value, i love hearing success stories in whatever field
Drew Brees makes that plus endorsements due to his market value, i love hearing success stories in whatever field
Posted on 3/30/15 at 11:41 am to LoveThatMoney
The DFW area is so diverse now I honestly don't see a big short or long term impact. The Dallas banking sector used to rely heavily on west Texas O&G but times have changed.
Just take one example, Plano. It's the HQ for Toyota (cheap gas is good), YUM restaurants, Pizza Hut, JC Penney, and Frito-Lay... to name a few.
Midland/Odessa will continue to get hammered though. Hey, a great time to buy that weekend vacay home in the scenic permian basin.
Just take one example, Plano. It's the HQ for Toyota (cheap gas is good), YUM restaurants, Pizza Hut, JC Penney, and Frito-Lay... to name a few.
Midland/Odessa will continue to get hammered though. Hey, a great time to buy that weekend vacay home in the scenic permian basin.
Posted on 3/30/15 at 11:42 am to stevengtiger
quote:
When that human is able to run a business and create more profit, of course they can be. Most of the time, the bulk of thier payouts are in stock options. If he/she makes the company run better, they make more. The CEO's for the both cmpanys I have worked for make as much as Chevrons and CP, just to use examples you posted, and I am nowhere newar the O&G field.
That's how it works in theory. In practice, they get paid regardless. The men who crashed Wall Street and destroyed their banks walked away with tens of millions.
Posted on 3/30/15 at 11:45 am to Jim Rockford
quote:
The men who crashed Wall Street and destroyed their banks walked away with tens of millions.
This is a another issue, big oil didn't crash wall street
Posted on 3/30/15 at 11:45 am to Jim Rockford
quote:
The men who crashed Wall Street and destroyed their banks walked away with tens of millions.
They were basically criminals though imo and were not in a consumer based operation. Different than most companies CEO's. About 75% of Exxons CEOs compensation is stock options. If they stock suffers, he makes less and vice versa.
Posted on 3/30/15 at 11:50 am to fightingtiger2335
quote:
Oh is this when i answer you pull out some cliche oil field wit that the trash finds funny or booming?
You're the one who used the term "big oil".
But I guess this is where you deflect because you don't know what the frick you're talking about.
Posted on 3/30/15 at 11:50 am to Tommy Wayne
LINK
Probably should have put some of that money aside...I can assure you that none of the executives are losing their 7/8 figure a year jobs...just their working bees
quote:
Exxon Mobil reported a quarterly profit of nearly $16 billion Thursday -- the highest ever for a U.S. corporation.
The number beat out the previous quarterly record of $14.83 billion set in the third quarter of 2008, also by Exxon.
Probably should have put some of that money aside...I can assure you that none of the executives are losing their 7/8 figure a year jobs...just their working bees
Posted on 3/30/15 at 11:51 am to IT_Dawg
People always say this, but I'm not going to worry until I have to pawn my Xbox One for gas or have to live on the street. Let me know when it gets that bad.
Posted on 3/30/15 at 11:55 am to McCaigBro69
quote:
People always say this, but I'm not going to worry until I have to pawn my Xbox One for gas or have to live on the street. Let me know when it gets that bad.
I have no issue paying for gas either. That is not the point. The point is, the oil companies raked in massive profits during a US depression, and now they are whining and complaining about the price of oil...so frick them
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