re: Oil dive deepens to 12-year low; could hit $20 on China fears

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I realize that some people that post here are not from Louisiana or Texas, but this is still primarily a Louisiana centric board. This will not be good for any industry that resides or does business on the Gulf Coast.

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No doubt, and I feel for you guys. Some of the folks here who can't see the forest for the trees and think the world is burning after the boom times in the last ten years in O&G are frustrating. Low prices hurt in some places and help in others.

After decades and decades of decline, the Midwest is finally booming again. These states are doing pretty well economically for the first time in my life.

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Sure, gas prices are cheap as shite, but when it sinks the rest of the economy,

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Cheaper, more efficient energy will sink the entire economy? Wut? It will hurt my business but help the world overall.

I laugh at so many who don't think that they are affected by a drop in the Oil & Gas industry.

If you are living in the South, it will affect you.

Two years ago we had 550 employees in Houston. We are down to 250 now with more cuts coming. Those unemployed people are not out spending money.

I have one supplier in Ohio that has let go 60 people just from the lack of business that we gave them. Another supplier in California has gone from 25 employees to 3. I could list numerous suppliers here on the Gulf Coast that are having difficulty do to the drop in the industry.

Now for years things have been exceptionally well and if you didn't plan on a downturn the shame on you. I have planned and could keep my same standard of living for 48 months if needed. But at the same time I could move into another industry which would more than likely require me to relocate.

Not only the restaurants hurting but also the parish and state are seeing less in sales tax revenue. People out of jobs not spending $. People cutting back on there day to day things like food from wallmarks. Its far reaching in this area. Sucks...I have had to lay off people that I didnt want too.

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Cheaper, more efficient energy will sink the entire economy? Wut?

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Apparently people have a hard time understanding that the CURRENT downturn in oil is the result of global concerns. Falling oil evicerating the economy may be hyperbolic, but the reason for this fall (from $45 to $30, not from $100 to $45) is concern for the global economy in general.

The only Dow Jones sector that is up for the last month is the utilities sector. Obviously the energy sector has been the worst off, but there are macro issues at play that are dragging everything down.

This ignorant idea that cheap gas us always good is ridiculous if you don't take a moment to understand WHY it is cheap. It isn't happening in a vacuum.

Love the cheap gas

We'll see but that's insane.

What's UAE's break even?

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TigersHuskers

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Is there are reason why you're being a douche?