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Started By
Message
re: Economist: Iran deal means oil @ $10-20/bbl
Posted on 7/14/15 at 8:37 pm to kywildcatfanone
Posted on 7/14/15 at 8:37 pm to kywildcatfanone
quote:
F350's for everyone. Every year an upgrade!
I work at a refinery and have been to several other refineries and I think this is extremely exaggerated.
1
Posted on 7/14/15 at 8:40 pm to Jim Rockford
Im glad Memorial hedged at $95/barrel in Lincoln Parish and I dont have to worry about this shite.
Ive been busier during the "downturn" than I was back in 08-09 Haynesville days
Ive been busier during the "downturn" than I was back in 08-09 Haynesville days
Posted on 7/14/15 at 8:49 pm to animalcracker
quote:
quote: Welders were making 75 an hr? A lot of pa's don't make that much quote: I'm exaggerating there, but you get my point. not really because i know some that make 200k + a year. and that's with some short layoffs. they get paid so much an hr, so much for their welding machine, and per diam. then fill up their trucks with company diesel.
I just worked a big turnaround at a refinery. Welders got paid about half or less of the $75 figure that the previous poster threw out there.
This post was edited on 7/14/15 at 8:51 pm
Posted on 7/14/15 at 8:51 pm to JasonL79
It's amazing how many baws are so butthurt by the O&G industry
Posted on 7/14/15 at 8:51 pm to JasonL79
quote:I was talking about pipeline welders.
I just worked a big turnaround at a refinery. Welders got paid about half or less of the $75 figure.
Posted on 7/14/15 at 8:59 pm to JasonL79
quote:
quote:
F350's for everyone. Every year an upgrade!
I work at a refinery and have been to several other refineries and I think this is extremely exaggerated.
I agree Jason. The whole "jacked up truck" "king ranch f250/350" stereotype is really overplayed and old. no different in the oil field than any other industry.
Posted on 7/14/15 at 8:59 pm to animalcracker
Everybody hating on welders making bank. It might not take a rocket scientist to do it, but there are sacrifices they have to make that most people aren't willing to make.
High risk, but high rewards.
When is the last time any of y'all heard an oil field worker wish ill on your career or financial situation?
High risk, but high rewards.
When is the last time any of y'all heard an oil field worker wish ill on your career or financial situation?
Posted on 7/14/15 at 9:20 pm to Jim Rockford
An incremental supply boost of less than 1mmb/d a day in 2016 on >90mmb/d of global oil supply is not going to have that huge of an effect. The country itself is also years behind with regard to infrastructure. Get real, baw. Don't come at us with some "producing at marginal cost" economist bullshite, like we are looking at some MC curve in MicroEcon.
Oil may one day hit $10 in our lifetimes if we see a dramatic global economic slowdown or if another alternative energy source is developed. But it's very unlikely to happen in the short to medium term, and Iran certainly won't be the reason if that happens.
Oil may one day hit $10 in our lifetimes if we see a dramatic global economic slowdown or if another alternative energy source is developed. But it's very unlikely to happen in the short to medium term, and Iran certainly won't be the reason if that happens.
This post was edited on 7/14/15 at 9:22 pm
Posted on 7/14/15 at 9:45 pm to Real Pirate
quote:
Everybody hating on welders making bank. It might not take a rocket scientist to do it, but there are sacrifices they have to make that most people aren't willing to make.
High risk, but high rewards.
When is the last time any of y'all heard an oil field worker wish ill on your career or financial situation?
I'm not shitting on anyone's profession. I deal with working people every damn day.
But someone working in a field with a Means rate between $25-$35/hr should know that getting $60-$70 is not permanent. So plastering stickers on your trucks that say "Oilfield trash making oilfield cash" while blowing through that money isn't the best way to gain sympathy.
Plus someone with pipeline experience should have no issue finding work, albeit making less money. Pulling in $1200 wk plus overtime is not exactly chump change.
Posted on 7/14/15 at 9:54 pm to 24nights
quote:
don't feel too bad , i hear lsu just lost a big" oilfield trash" donor and he is headed to la tech
Same guy with the LSU tribute wall on I-49 south of shreveport im guessing?
Posted on 7/14/15 at 10:00 pm to Lou Pai
How much Iranian oil was already going to china and Asia? I would wager a good deal of it. The sanction removal will allow western oil majors to gain footholds and re-establish operations but I'm with you that it's some time in 2016 before this is noticeable to the world wide market in the form of new production. North America will see huge production drops due to shale declines if oil stays sub $55 and hedges start rolling off for most of the American debt drillers. That doesn't take into account supply problems from cash strapped producers like Venezuela, Russia, or Nigeria.
Posted on 7/14/15 at 10:07 pm to tigerinthebueche
i hope those people enjoy the competition in their field they'll get when the oil talent moves into other industries.
Plenty of extremely skilled and experienced people work in oil, and they're going to have to work somewhere if the cuts happen like many here seem to want. You're going to have some heavy hitters filtering into places that couldn't offer the chips to pull in the best. Oil and gas has a lot of the best.
There are far more repercussions to crippling the oil industry than just getting rich pipe fitters out of laffy.
Plenty of extremely skilled and experienced people work in oil, and they're going to have to work somewhere if the cuts happen like many here seem to want. You're going to have some heavy hitters filtering into places that couldn't offer the chips to pull in the best. Oil and gas has a lot of the best.
There are far more repercussions to crippling the oil industry than just getting rich pipe fitters out of laffy.
Posted on 7/14/15 at 10:10 pm to elprez00
quote:
But someone working in a field with a Means rate between $25-$35/hr should know that getting $60-$70 is not permanent.
"In the field", meaning oil field?
You're incredibly naive if you think the means rate for a welder in the pipeline industry is anything less than $45/hour, and I'm being very conservative in that number. Most welders worth their salt will tell you to frick off for anything less than that.
Plant work is completely separate from pipeline/compressor station work btw.
Hell, the starting pay (including per diem) for green hands on every line I've ever worked on is close to $20/hour.
Posted on 7/14/15 at 10:13 pm to Real Pirate
FWIW, I made $20/hr as a helper with zero experience while I was in college.
Posted on 7/14/15 at 10:17 pm to DownshiftAndFloorIt
quote:
FWIW, I made $20/hr as a helper with zero experience while I was in college.
Most people with 5+years experience (excluding welders) average close to your $30-$35/hour guess. Welders are generally the higher paid on the line, just under inspectors wages.
Posted on 7/14/15 at 10:19 pm to Real Pirate
Pirate, you're making my point for me, and I suppose I'm doing a bad job. My point was a pipeline guy could get a job working elsewhere for good money, albeit less than what they were making on pipeline or rig work. There are jobs to be had.
Posted on 7/14/15 at 10:23 pm to elprez00
Sure they can. The market will be flooded in other industries and wages will go down though.
As far as this state is concerned, we're living at a high standard of living because oil and gas has been driving us big time. Nothing good will come to Louisiana short term from plummeting oil prices. I'm not sure anything long term will either from an economic standpoint.
As far as this state is concerned, we're living at a high standard of living because oil and gas has been driving us big time. Nothing good will come to Louisiana short term from plummeting oil prices. I'm not sure anything long term will either from an economic standpoint.
Posted on 7/14/15 at 10:23 pm to elprez00
quote:
Pirate, you're making my point for me, and I suppose I'm doing a bad job. My point was a pipeline guy could get a job working elsewhere for good money, albeit less than what they were making on pipeline or rig work. There are jobs to be had.
Wait, were we arguing?
I completely agree. Obviously, not every person on the pipeline is cut out for a more normal job, but you certainly have some of the best and brightest working in this field because, for a while now, it has been paying so well.
Some of you slackers better hope these guys stay in the oil field. They're liable to come in and take your jobs.
Posted on 7/14/15 at 10:27 pm to DownshiftAndFloorIt
Meh, Louisiana is a big producer. If the price stays low, production should increase to meet demand. That side of the business should see an increase. It may take a little while for the economy to reset, but it's not like people are going to go and stop traveling since fuel is so low.
Posted on 7/14/15 at 10:27 pm to elprez00
quote:
So plastering stickers on your trucks that say "Oilfield trash making oilfield cash" while blowing through that money isn't the best way to gain sympathy.
You're letting the minority of us represent the majority of us.
Every place of employment has that one dumbass that works for them and represents them negatively.
If you look around your company and don't see anyone like that, then you're probably him.
Eta.
quote:
but it's not like people are going to go and stop traveling since fuel is so low.
Who thought that traveling would decrease with a decrease in cost to travel? They better not work on my line.
This post was edited on 7/14/15 at 10:30 pm
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