re: Boom to bust: Crude oil costing families

quote:

---

This is what the OT does. How on earth do you know this? Everyone on my team of 9 has minimum 2 degrees, with one having 4.

---

While I believe you, large majority in the oil field have no post high school degree. Many see the field as a way to make decent money in lieu of going to college.

quote:

---

Just curious, did you start a similar thread about families in the newspaper business as many of those companies went under?

---

Exactly.

These threads are getting so tired. Money didn't just evaporate, it's going everywhere else in the economy. Either into other companies' bottom lines, people's savings, etc.

People who post stupid threads like this have clearly never stepped foot into (or stayed awake in) an economics class room.

Don't be pissed at us. Be pissed at your population and local leadership that allowed your economy to become too dependent on something that can't be depended on.

Market equilibrium is a bitch.

quote:

---

Money didn't just evaporate

---

tell that to my 401k and IRA

quote:

---

40k bonuses once again.

---

Sweet Jesus, I hope so

Wait till Bernie and then Hillary start preaching "free gas" for everyone.

The hits just keep on a coming!

quote:

---

In 3 years you'll be bitching about gas prices again and they'll raking in 40k bonuses once again.

---

You just called yourself out. This is the exact reason no one gives a shite about the O&G layoffs except for those people who were laid off. No one else is making $40,000 bonuses off of the misery of others' wallets. When oil goes back up, I won't be bitching. You know why? Because I'm financially responsible and see times like these as great investment opportunities. How many baws you think have more than $5,000 in their savings accounts? That's OK though, selling off their ATVs, guns and trucks will get them through a couple of months.


There's no sympathy towards them because of their excess. It's like watching Kanye announce his financial woes, it sucks, but we are all kind of happy.

quote:

---

This guy gets it. O&G workers want us to bend over backwards to fix their problem. The fact of the matter is, every industry sees a downturn and people lose jobs. People at the top, people at the bottom. It's a reality of life in a 1st world country, and if you don't prepare for the bad times, you're going to have a bad time.

---

I learned at a very early age to be prepared financially for layoffs. I'm talking like 10 years old. My dad went through it with Amaco and then again with a smaller company. Once I started working, I made sure to save money every month to make sure I had 6 months savings if I had absolutely zero money coming in. Took me a year or two of not buying shite I may have wanted but I did it. Now I just spend what I make with 10% still going to my 401K.

I also don't own boats, ATVs, or other random things I really don't need. And I have a nice house but I bought well below what I could afford based on the 25% of your take home pay rule. Too many people (like the guy in the OP's story) are just plain retarded when it comes to money. It's certainly not unique to the oil field baws though.

>

Do you think oilfield trash gets bonuses like that? Hell any bonuses at all?

Not even remotely. Their bonus is their overtime pay. It's the people in the office making decisions, pin pointing geographically and stratigraphically where to find the oil, accurately measuring how much is retrievable and what methods to use to retrieve it that are getting those bonuses.

You do know there are a shitpile of financially responsible professionals in O&G, right?

quote:

---

You do know there are a shitpile of financially responsible professionals in O&G, right?

---

impossible!