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Started By
Message
re: The Last Time The Price Of Oil Crashed Like This?
Posted on 12/23/14 at 9:32 am to yankeeundercover
Posted on 12/23/14 at 9:32 am to yankeeundercover
quote:
The last time this happened was during the second half of 2008, and the beginning of that oil price crash preceded the great financial collapse that happened later that year by several months.
This statement isn't very accurate. It didn't precede the financial collapse. It basically went together with the collapse. Oil started collapsing at the end of the summer... Same time as the financial collapse.
1
Posted on 12/23/14 at 9:58 am to The Boat
so who is the attorney who thinks hes better and bigger than oilfield workers?
Posted on 12/23/14 at 10:17 am to Double Oh
Some asshat logged in as Wade Richey. The irony here is that the real Wade Richey is from Lafayette and his father was employed at Baker Hughes.
Posted on 12/23/14 at 10:38 am to Double Oh
I'll admit that my salary in the oilfield may be a bit inflated.
There's one field I've had to deal with that I felt skeezy with the way things worked, and that was with a lawyer. I think it's only limited to personal injury type lawyers, but man was that a blatant "let's look where we can screw an insurance company out of money" situation and no one even appears to deny it. If anyone ever steps up with some insurance reform, lawyers are going to take quite a hit. I would estimate only 30% have truly meaningful jobs.
There's one field I've had to deal with that I felt skeezy with the way things worked, and that was with a lawyer. I think it's only limited to personal injury type lawyers, but man was that a blatant "let's look where we can screw an insurance company out of money" situation and no one even appears to deny it. If anyone ever steps up with some insurance reform, lawyers are going to take quite a hit. I would estimate only 30% have truly meaningful jobs.
Posted on 12/23/14 at 8:38 pm to offshoretrash
quote:
As far as the oil prices go, I think OPEC is shooting themselves in the foot. The reserves here in the USA are not going away. Sooner or later they will be used. IMO this will help the economy overall but yeah it will hurt the oil industry for a few years.
I hope you are right. But OPEC also showed it can destroy your shale play any time it wants to. I think that in the future there will be a lot less leverage in the shales.
The good news is that no one seems to remember shite in the industry. I've followed it for decades and been active in it for 25 years. In a boom, no one remembers the bust. In a bust, no one anticipates the next boom.
Posted on 2/19/16 at 10:08 am to xLxSxUxFxAxNx
quote:
venezuela
I realize that I'm bumping a year old thread, but you can see now a lot of the global recession beginning to happen in places like Venezuela who's on the verge of a full economic collapse. Scary stuff, especially if you're paying attention to the refining sector. It's really bad.
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