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Started By
Message
re: Boom to bust: Crude oil costing families
Posted on 2/24/16 at 12:11 am to JJBTiger2012
Posted on 2/24/16 at 12:11 am to JJBTiger2012
quote:
I feel like the longer this shite lasts the worse it will be for the consumer.
Wait. Low prices will be bad for the consumer?
quote:
At some point country's will begin crumbling and desperate measures will be forced.
Desperate measures to increase the cost of raw materials and price of energy?
quote:
If they all hold out and continue flooding the market
Who's flooding the market? The US was flooding the market but now they're not.
2
Posted on 2/24/16 at 1:42 am to Asgard Device
quote:
Wait. Low prices will be bad for the consumer?
I think we can enjoy low gas prices for 3 or 4 more years. I see no way supply will be decreasing any time soon.
quote:
Who's flooding the market? The US was flooding the market but now they're not.
The US is, plus they have a few million ready to come online once the price goes back up the $50. There are projects in Brazil and Africa that have yet to come on line that will be big producers.
I don't give a shite if it stays in the $20s now because I am no longer controlled by the price of oil. I will enjoy paying $1.50 a gal or less for gas.
Posted on 2/24/16 at 2:58 am to JJBTiger2012
quote:
I'm 31 with 2 kids and honestly have no back up plan that will pay me enough money to live what I'd consider a normal/above average life.
You should probably figure out a backup plan ASAP.
Posted on 2/24/16 at 3:48 am to thegreatboudini
quote:
Prepare for the downturn?
quote:
So, a 50 year old highly educated individual with 2 children, one who is in college and another in high school, who has plenty of savings is "prepared" to lose his job and his entire stream of income? This man could have well over 6 figures in savings, all vehicles paid off, easily attainable mortgage and still be in a bind in the near future. He's not getting another job in that industry any time soon. So what, he has to sell his house to downsize and have a lower mortgage? Daughter in college has $7,000 in tuition due this August, no problem? When half of the country lost their money in the stock market in 7-8 years ago I was laughing saying "you stupid frickers should have been ready for this!"
Yes, one should be prepared. It happen to me at 52, but I got sick with heart failure. Was I ready to loose my job after 30 years? Not really, but I had saved enough. Been out of work over 5 years and my income is 70K+ a year. So yes, I was ready. And yes, I paid LSU for 8 years for my daughter to finish Vet school.
Posted on 2/24/16 at 5:53 am to RedRifle
It's life get over it!
Yes early 80's I was an a class pipefitter making what would be in today's wage $12 hr. You have entry level pipefitters now making in the $20 to $30 hr range with less skills. It's supply and demand I left, retrained, accepted lower pay at first, and did something else. It gets old to here people whine when it's supply and demand and this happened in 80's. History repeats itself and I guess people don't understand this!
Didn't these people that went into these jobs remember the oil bust in the 1980's?
When things are good enjoy the ride, plan for bad times, diversify your skills, and buy a house you can pay off.
Every industry has good and bad times.
Did I cry when the housing market fell out while laborers in the oilfield were being extremely over paid? No, I diversified and went into the service side of the hardware business to keep my locations going.
It's getting old retrain, accept you may have to move to find work that does not pay as much, and move on stop crying about it!
Yes early 80's I was an a class pipefitter making what would be in today's wage $12 hr. You have entry level pipefitters now making in the $20 to $30 hr range with less skills. It's supply and demand I left, retrained, accepted lower pay at first, and did something else. It gets old to here people whine when it's supply and demand and this happened in 80's. History repeats itself and I guess people don't understand this!
Didn't these people that went into these jobs remember the oil bust in the 1980's?
When things are good enjoy the ride, plan for bad times, diversify your skills, and buy a house you can pay off.
Every industry has good and bad times.
Did I cry when the housing market fell out while laborers in the oilfield were being extremely over paid? No, I diversified and went into the service side of the hardware business to keep my locations going.
It's getting old retrain, accept you may have to move to find work that does not pay as much, and move on stop crying about it!
This post was edited on 2/24/16 at 6:02 am
Posted on 2/24/16 at 5:54 am to Asgard Device
Asgard Device, I know that your competent enough to understand my post. Instead of doing something else with your time do you really come here to twist and manipulate words to make posters look stupid?? I thought that I'd made it pretty clear that I believe that if or when it bounces back that the consumer will be hurt (high fuel prices). Your heads really deep in the sand if you don't realize that low oil is currently and will continue to crush economies. Venezuela and Russia are good Google material if you need educating on the matter. Flooding? Yes mfer, yes.... OPEC, ya know the great and powerful oil cartel, yep they've been having a few get togethers. Concerning what? Well son, they're considering a decrease in production to counter the glut and balance the market. If they come to an agreement I don't see the U.S. of A participating but their cuts will still raise prices.
Posted on 2/24/16 at 6:47 am to Captain Rumbeard
quote:
I took a paycut after that that's probably more than most of you will ever make in a year.
And you wonder why people don't care that you got fired. Try some humility.
Posted on 2/24/16 at 7:41 am to RedRifle
this all happened before in the 80s.... just a lot faster last time
Posted on 2/24/16 at 8:01 am to stout
quote:
And you wonder why people don't care that you got fired. Try some humility.
I must have missed where he asked people to care
Posted on 2/24/16 at 8:08 am to johnnyrocket
quote:
Didn't these people that went into these jobs remember the oil bust in the 1980's?
Some of us weren't alive.
Posted on 2/24/16 at 8:44 am to Franticlethargy
quote:
Now it's good for me, but I should have some remorse that it's tough on another sector?
Never said you should have remorse, I was simply pointing out that it's not just "oilfield workers" who are affected by the downturn.
Also if it's "tough to fill up" when gas is $3.00 / gallon then you might need to reevaluate your mode of transportation. We're talking about a difference of $22-30 for a tank of gas. If that is the difference between you sinking or swimming, then you might be living outside of your means in the first place.
This post was edited on 2/24/16 at 8:45 am
Posted on 2/24/16 at 9:19 am to RedRifle
I commute 130 miles a day round trip. Oil field workers weren't feeling any sympathy for me when gas was 3.35 a gallon. You picked your career path now deal with it
Posted on 2/24/16 at 9:22 am to Murtown
quote:
I commute 130 miles a day round trip.
well that's due to your poor decisions
Posted on 2/24/16 at 9:23 am to CptRusty
quote:
We're talking about a difference of $22-30 for a tank of gas. If that is the difference between you sinking or swimming, then you might be living outside of your means in the first place.
Some people don't live outside their means and $200 per month in gas savings can be make or break for them. Don't be ignorant.
Posted on 2/24/16 at 9:25 am to choupiquesushi
quote:
this all happened before in the 80s.... just a lot faster last time
Yep and with larger $$$ amounts added to the debts
I remember my dad taking a pay cut and only working 20-30 hrs a week to keep a job. We ate a whole lot of fish/shrimp we caught ourselves during the 80's.
Posted on 2/24/16 at 9:31 am to stout
quote:
well that's due to your poor decisions
As would those in the oil industry who didn't save for a rainy day, no?
Posted on 2/24/16 at 9:36 am to Murtown
quote:
I commute 130 miles a day round trip. Oil field workers weren't feeling any sympathy for me when gas was 3.35 a gallon. You picked your career path now
And you picked to live 65 miles away from your job....
Please just shut the frick up
Posted on 2/24/16 at 9:38 am to yellowfin
quote:
well that's due to your poor decisions
Well it is my decision yes. The difference is I don't ask people to feel sorry for me for making that decision
Posted on 2/24/16 at 9:40 am to Murtown
i feel sorry for your daily commute brother.
Posted on 2/24/16 at 9:44 am to Murtown
quote:
The difference is I don't ask people to feel sorry for me for making that decision
I feel sorry for you anyway....even though you didn't ask
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