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Started By
Message
re: Oil back below $40
Posted on 8/2/16 at 11:56 am to ShaneTheLegLechler
Posted on 8/2/16 at 11:56 am to ShaneTheLegLechler
quote:
quote:
Hell my stripper at Treasures was a deep water drilling engineer recently let go from Shell, pretty depressing
Gross, 98% of females in Ops are fricking disgusting
He never said the stripper was a girl.
0
Posted on 8/2/16 at 11:59 am to Nado Jenkins83
quote:
what kinda business?
I have a business that does paintless dent repair at over a dozen dealerships and about 10 used car lots. That's not including any repairs for the "general public".
And as far as the vendor services for dealerships, the lower the gas prices are, the more turnover they have which is good for me.
Posted on 8/2/16 at 12:00 pm to Jim Rockford
I am not in the OG industry.
Question for those in the know. What about the effects this low oil prices are having on Russia and the Middle east economies?
Russia has enormous natural resources, and the people there are tough as shite. During WWII many survived on potatoes and onions, so I am not as concerned with them, except the reduced income could influence their military expenditures.
However in many middle eastern countries, the main source of income is from oil. There is not much of a market for sand, dates, and camels so when oil prices drop it affects the money those countries use to provide for their backwards arse, goat humping citizens.
Anyone want to comment on what those long term effects might be? In the 80's the USA basically bankrupted the Soviets during the cold war's arms race. Could this be a similar play?
Question for those in the know. What about the effects this low oil prices are having on Russia and the Middle east economies?
Russia has enormous natural resources, and the people there are tough as shite. During WWII many survived on potatoes and onions, so I am not as concerned with them, except the reduced income could influence their military expenditures.
However in many middle eastern countries, the main source of income is from oil. There is not much of a market for sand, dates, and camels so when oil prices drop it affects the money those countries use to provide for their backwards arse, goat humping citizens.
Anyone want to comment on what those long term effects might be? In the 80's the USA basically bankrupted the Soviets during the cold war's arms race. Could this be a similar play?
Posted on 8/2/16 at 12:00 pm to chauncey1
We are on the same page, have read The Prize. A great read for anyone who likes history and wants a better understanding of how oil influences the world.
Posted on 8/2/16 at 12:09 pm to Asgard Device
quote:
The Saudis never ramped production up
Yeah, I never thought it was due to the Saudis. My brother lost his job in the O&G industry- and basically his take was that when we lifted the trade sanctions with Iran last year, Iran was the one who flooded the market. The Iranians hadn't been able to export oil in years, and once they were able to - it didn't matter if they were only getting $25.00 a barrel, its better than nothing.
Posted on 8/2/16 at 12:13 pm to alphaandomega
Times certainly aren't good in either Russia or the Middle East, but it isn't as bad as it once was. In particular SAnhas an insane reserve they can tap and wait out anyone else. This price war is actually harming some of their enemies in the region (most notably Iran), so that is a boon to them.
Russia's economy is reliant on O&G but not exclusively so. I don't think SA can keep this up long enough to bankrupt Russia as things stand.
The bigger threat to Russia is increasing global sanctions, but those have bee surprisingly slow to materialize.
Russia's economy is reliant on O&G but not exclusively so. I don't think SA can keep this up long enough to bankrupt Russia as things stand.
The bigger threat to Russia is increasing global sanctions, but those have bee surprisingly slow to materialize.
Posted on 8/2/16 at 12:17 pm to lsufan31
At the very least this confirms you are "real" brothers.
Congrats I guess.
Congrats I guess.
Posted on 8/2/16 at 12:54 pm to lsufan31
Well, my two cents is from various economic articles that reads as this is a big game of chicken of oil producers.
OPEC is not in agreement on strategy. Thus Saudi Arabia is doing what they want and not cutting supplies.
The US is allowing exports.
Russian and Iran are giving the big finger to everybody.
And of course, the basic supply/demand thing.
Overall, I think it's way more complicated than we know.
I am glad the big gut of the O&G industry has taken a hit.
I felt the same about the fat gut of the real estate industry back in '08.
Both needed to lose some weight. Good. Overall good for everybody.
OPEC is not in agreement on strategy. Thus Saudi Arabia is doing what they want and not cutting supplies.
The US is allowing exports.
Russian and Iran are giving the big finger to everybody.
And of course, the basic supply/demand thing.
Overall, I think it's way more complicated than we know.
I am glad the big gut of the O&G industry has taken a hit.
I felt the same about the fat gut of the real estate industry back in '08.
Both needed to lose some weight. Good. Overall good for everybody.
Posted on 8/2/16 at 1:10 pm to Taurus
quote:
I am glad the big gut of the O&G industry has taken a hit.
Me too, even though I didn't want to see my brother lose his job, I couldn't keep taking it in the shorts at the pump either. My brother was pretty high up in the chain, and made nice money- but the Oil companies were making profit when gas was 1.25 a gallon. They don't need $4.00 a gallon to make a profit.
Posted on 8/2/16 at 1:13 pm to lsufan31
quote:
but the Oil companies were making profit when gas was 1.25 a gallon. They don't need $4.00 a gallon to make a profit.
Such a well researched opinion.
People lose their mind paying $3.50/gallon to fill up their $35k car. Apparently oil and gas are two items people think are immune from inflation.
This post was edited on 8/2/16 at 3:52 pm
Posted on 8/2/16 at 1:14 pm to OKTiger83
quote:
Baw,baw,baw.....truck nuts
NIPPLE DOWN, BAW!!!!
Posted on 8/2/16 at 1:18 pm to PhiTiger1764
Posted on 8/2/16 at 1:20 pm to lsufan31
quote:
Me too, even though I didn't want to see my brother lose his job, I couldn't keep taking it in the shorts at the pump either. My brother was pretty high up in the chain, and made nice money- but the Oil companies were making profit when gas was 1.25 a gallon. They don't need $4.00 a gallon to make a profit.
I agree. Before people jump my arse about trimming the guts, I lost my job in '08 due to the collapse. And I wasn't in real estate or banking. shite hit the fan and I was there less than 60 days and poof, I was toast since all the work dried up.
Oil and real estate got way too fat and needed to trim down even though some are getting hurt by it.
Posted on 8/2/16 at 1:21 pm to OweO
quote:
Actually I think $70-$75 a barrel is where it needs to be to keep everyone happy,
I'm happy where it is now. That's all that matters.
Posted on 8/2/16 at 1:22 pm to slackster
Well, I'm not one of those people. And I'm sorry you don't agree with my opinion.
I sold my $20k SUV in 2007 because I couldn't afford the gas. Now, I can afford the gas in whatever I want to drive, even if it goes back to $4.00 a gallon. I would just prefer to have that money, to have an extra weekend out of town or a little extra spending money on vacation.
I'm not opposed to paying more than $1.25 a gallon for gas so don't assume that I think gas is immune to inflation just because I pointed out that they made a profit at $1.25. Because, they did make a profit. They are still making a profit @ $1.77, just as they did at $4.35. The corporate greed is what made them get rid of the middle tier guys (like my brother) so that they could protect the highest profit margin possible.
I sold my $20k SUV in 2007 because I couldn't afford the gas. Now, I can afford the gas in whatever I want to drive, even if it goes back to $4.00 a gallon. I would just prefer to have that money, to have an extra weekend out of town or a little extra spending money on vacation.
I'm not opposed to paying more than $1.25 a gallon for gas so don't assume that I think gas is immune to inflation just because I pointed out that they made a profit at $1.25. Because, they did make a profit. They are still making a profit @ $1.77, just as they did at $4.35. The corporate greed is what made them get rid of the middle tier guys (like my brother) so that they could protect the highest profit margin possible.
Posted on 8/2/16 at 1:51 pm to Salamander_Wilson
quote:
I could care less about our economy taking a hit if it's propped up by an industry that is volatile and unsustainable.
How much less could you care?
Posted on 8/2/16 at 2:25 pm to CorporateTiger
quote:
CorporateTiger
Thank you for your reply
Posted on 8/2/16 at 2:29 pm to lsufan31
quote:
And I'm sorry you don't agree with my opinion.
Nah don't be. I'm just lumping you in with many people in this thread that think anything higher than $2.25 is highway robbery, regardless of the litany of factors that go into the price. Hell, producers and consumers could literally do nothing differently and the price will fluctuate based on the strength of the dollar. It is far more complicated than <$2.25 is the "appropriate" price and >$2.25 is corporate greed or manipulation.
Posted on 8/2/16 at 2:37 pm to slackster
quote:
It is far more complicated
You're right. I don't think that corporate greed has much to do with the actual price at the pumps. However, I do know that corporate greed cost my brother (and a few more folks in the industry) their jobs. When profit margins are not high enough, at whatever dollar amount gas is going for, salaried individuals with >10 years of service are the first fat to be trimmed.
Posted on 8/2/16 at 3:23 pm to lsufan31
quote:
salaried individuals with >10 years of service are the first fat to be trimmed.
If they were truely invaluable, they wouldn't have been cut.
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