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Started By
Message
re: Low Gas Prices, People don't understand the Problems
Posted on 1/5/15 at 12:56 pm to America
Posted on 1/5/15 at 12:56 pm to America
quote:
Some ppl just don't understand the problems that low gas prices can cause
Well supposedly there's a shortage of engineers and skilled craft workers looming because of industrial expansions, so the smart ones (that aren't valuable/productive enough to be kept) should start looking to manufacturing and construction industries and away from O&G
1
Posted on 1/5/15 at 12:57 pm to AbitaFan08
quote:
tend to be the same people
They do?
Posted on 1/5/15 at 12:57 pm to SlowFlowPro
Exactly jake
Posted on 1/5/15 at 12:57 pm to pointdog33
quote:
The flooding of the market with outside oil
It seems to me that with the rise of fracking in the US we are the ones flooding the market.
Posted on 1/5/15 at 12:58 pm to meauxjeaux2
quote:
natural gas > Oil
yeah i've heard the impact here won't be that hard. sasol is all in still. some of the more minor expansions may be affected
but even if it hurts us like laffy, laffy is based more in the corporate and different portions of the process. petro still needs refining, regardless of the cost of oil. citgo's major refinery is here, and i believe they get most of their oil from venezuela, which is ridiculously cheap.
laffy also does whatever they can to expand/grow in their booms, which make their busts worse. LC is more about slow growth and long-term stability when our main industry is an unstable one.
Posted on 1/5/15 at 12:58 pm to America
sucks for our state budget too...huge shortfall
Posted on 1/5/15 at 12:58 pm to America
sucks for our state budget too...huge shortfall
Posted on 1/5/15 at 12:58 pm to 90proofprofessional
quote:
Well supposedly there's a shortage of engineers and skilled craft workers looming because of industrial expansions, so the smart ones (that aren't valuable/productive enough to be kept) should start looking to manufacturing and construction industries and away from O&G
Exactly. There's an extreme shortage of skilled labor but these idiots would rather chase fast cash then be out of work for a year rather than having a steady, lower paying job.
Posted on 1/5/15 at 12:58 pm to Farkwad
quote:
where are they going? They are still pumping oil
The really big companies are still drilling but there are ALOT of the smaller companies having to shut production down bc it just isnt profitable.
Hell there are some companies that cant turn a profit if oil is below 80/barrel. Its not bc they dont know how to manage money but bc they are so low on the totem pole that there are 5 other companies who were subbed out above them for the job they are actually doing.
Posted on 1/5/15 at 12:59 pm to America
The company I work for has four jobs that are on hold right now.
Posted on 1/5/15 at 12:59 pm to America
I will admit I don't understand the whole problem. Why can't gas just be back to 1.00 like it used to be? For it to go from 1-4 dollars a gallon wasn't good either in such a short time wasn't good either, was it?
Posted on 1/5/15 at 1:00 pm to pointdog33
quote:
They are keeping prices artificially low to squeeze out new exploration.
How are they keeping prices artificially low? By refusing to cut production? Why should they?
In other words your idea of OPEC "keeping prices artificially low" is essentially just SA refusing to keep them artifically high as they have done before with production cuts.
Posted on 1/5/15 at 1:00 pm to Farkwad
quote:
They are still pumping oil
they have all but pretty much shut down the shelf
Posted on 1/5/15 at 1:01 pm to SlowFlowPro
quote:
yeah i've heard the impact here won't be that hard. sasol is all in still. some of the more minor expansions may be affected
I'm not so sure. These same products can be produced using oil and current refining facilities. With low oil prices, they may have to seriously scale back operations.
Posted on 1/5/15 at 1:03 pm to chryso
quote:
It seems to me that with the rise of fracking in the US we are the ones flooding the market.
We are. Other countries are pissed that the US has upped their production and isnt buying as much oil as in previous years. So in turn the market is falling bc there is so much oil available. Its now basically a pissing match between the US and other oil producing countries to see who will back down first.
Posted on 1/5/15 at 1:03 pm to lsucoonass
quote:
Why can't gas just be back to 1.00 like it used to be?
Everything has trade-offs. Cheap energy makes almost everything cheaper, and increases standard of living across the board
Downside: expensive energy yields bigger profits, which means high demand for production labor, which tend to be high-paying jobs even though they require relatively little in the way of education for the pay
So, everyone wins with a price plummet except for some energy companies & their shareholders, and the workers they jettison. This is offset by a small amount for them by more money to spend on other shite. But that means little both for rich equity-holders and unemployed blue-collar types. The much larger remainder of the population benefits unambiguously
This post was edited on 1/5/15 at 1:04 pm
Posted on 1/5/15 at 1:03 pm to SlowFlowPro
quote:
yeah i've heard the impact here won't be that hard. sasol is all in still. some of the more minor expansions may be affected
Someone was telling me yesterday that one of the other proposed LNG deals here is now on very shaky ground because of this. Not sure how accurate that is.
Posted on 1/5/15 at 1:05 pm to upgrayedd
well the huge projects are natural gas, and they're going to be built eventually. if the big projects pull out they have to go through the regulatory/approval bullshite again and spend tens of millions of dollars, again
Posted on 1/5/15 at 1:05 pm to JOHNN
quote:
Its now basically a pissing match between the US and other oil producing countries to see who will back down first.
thats why we need a war in the mid east and with Russia
Posted on 1/5/15 at 1:09 pm to SlowFlowPro
quote:
well the huge projects are natural gas, and they're going to be built eventually. if the big projects pull out they have to go through the regulatory/approval bullshite again and spend tens of millions of dollars, again
Eh, they usually work out "for the greater good" type deals with regulatory agencies. When Shaw built their nuclear fab facility down there, they got their massive wetland permit approved in a matter of months. I've seen wetland permits for 0.1 acres sit a the USACE for a year waiting approval. I'm sure existing permits will be easily and cheaply fast-tracked if needed.
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