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re: Oil dive deepens to 12-year low; could hit $20 on China fears
Posted on 1/11/16 at 8:10 pm to LSUAlum2001
Posted on 1/11/16 at 8:10 pm to LSUAlum2001
Our economy runs on the backs of 18 wheelers and planes.
Cheap gas is good for them.
Cheap gas is good for them.
1
Posted on 1/11/16 at 8:10 pm to Crawdaddy
quote:
So when will all the high prices due to oil finally come down? Like groceries, services that rely on fuel, etc.
Don't get your hopes up for that. You have more disposable income so they'll keep the profit margins higher for awhile.
Posted on 1/11/16 at 8:11 pm to LSUAlum2001
quote:
Sure, gas prices are cheap as shite, but when it sinks the rest of the economy, you happy fricks will be crying.
As long as it isn't coupled with a mortgage industry collapse I'm good with riding out the highs and lows.
This post was edited on 1/11/16 at 8:12 pm
Posted on 1/11/16 at 8:12 pm to malvin
quote:
I'm not We laid off more people today. As far as I know I made the cut, but I'm on a job and going home tomorrow. They won't lay me off while I'm on a job, so it could still happen tomorrow.
That sucks. But I hope you learned from the last time the oil market sunk and put some income in savings.
Posted on 1/11/16 at 8:13 pm to AndyCBR
quote:
As long as it isn't coupled with a mortgage industry collapse I'm good with riding out the highs and lows.
There may be some foreclosures and a less active real estate market in Louisiana due to the low prices.
Posted on 1/11/16 at 8:16 pm to windshieldman
quote:
Bought more XOM stock.
Why? That shite is about to bottom out
This post was edited on 1/11/16 at 8:17 pm
Posted on 1/11/16 at 8:16 pm to LSUAlum2001
quote:
Sure, gas prices are cheap as shite, but when it sinks the rest of the economy, you happy fricks will be crying.
False
Posted on 1/11/16 at 8:24 pm to theronswanson
I'm not one of the dumb ones. I have 6-8 months of expenses saved up, I just really don't want to start dipping into it.
This directional driller I'm working with on the other hand...He has been complaining this whole job about the pay cut we took and how it's slow and he isn't making enough money. He has had his house, boat, side by side, camper, and motorcycle repossessed and has declared bankruptcy. His main complaint is that since he is tied up with bankruptcy he can't go buy another boat.
This directional driller I'm working with on the other hand...He has been complaining this whole job about the pay cut we took and how it's slow and he isn't making enough money. He has had his house, boat, side by side, camper, and motorcycle repossessed and has declared bankruptcy. His main complaint is that since he is tied up with bankruptcy he can't go buy another boat.
Posted on 1/11/16 at 8:25 pm to genuineLSUtiger
quote:
Love cheap gas. Keep dropping baby!
You must either have no relatives in the oil field, or hate the state of La.? Maybe both.
Posted on 1/11/16 at 8:27 pm to Revelator
Plummeting oil prices should really help the financial debacle we have in this state.
If you have money and the means, be ready to bail. Income taxes are about to skyrocket under the new leadership and the debt we are in.
If you have money and the means, be ready to bail. Income taxes are about to skyrocket under the new leadership and the debt we are in.
Posted on 1/11/16 at 8:28 pm to yellowfin
Poor people problems are hilarious
Posted on 1/11/16 at 8:28 pm to malvin
quote:
His main complaint is that since he is tied up with bankruptcy he can't go buy another boat.
This is where the F-250, truck nuts, baw bullshite comes from. He gets what he deserves from living so foolishly. If he is a DW dd, he was probably pulling in $200k+.
Posted on 1/11/16 at 8:29 pm to Crawdaddy
quote:
So when will all the high prices due to oil finally come down? Like groceries
It won't. But all these smart guys won't mention that, only the cheap gas.
Posted on 1/11/16 at 8:31 pm to AndyCBR
quote:
I remember gas at the Racetrac on Ambassador was $0.86 per gallon.
I actually bought it at that Racetrac for $.69. Filled my truck up for $9. Lol.
This post was edited on 1/11/16 at 8:32 pm
Posted on 1/11/16 at 8:31 pm to malvin
quote:
He has had his house, boat, side by side, camper, and motorcycle repossessed and has declared bankruptcy. His main complaint is that since he is tied up with bankruptcy he can't go buy another boat.
Yikes. I hope he doesn't breed.
This post was edited on 1/11/16 at 8:32 pm
Posted on 1/11/16 at 8:32 pm to GoldenD
quote:
This is where the F-250, truck nuts, baw bullshite comes from
I actually forgot to include his jacked up F250 that was also repossessed. Stereotypes exist for a reason. And he definitely fits that stereotype.
Posted on 1/11/16 at 8:33 pm to yellowfin
quote:
Stock market dropping like a rock too. Get ready for 2008 again
Thankfully I'm in a way better position to take advantage of it this time around
'07 and '08 really fricked me because I was all in on real estate. Wouldn't wish what I dealt with on anyone so I sympathize with the oil hands.
That being said, I am OK with a downturn considering where I am now.
Posted on 1/11/16 at 8:34 pm to GoldenD
quote:
and a less active real estate market in Louisiana
Except Lake Charles which is hopping right now.
Posted on 1/11/16 at 8:34 pm to fightin tigers
quote:
Why? That shite is about to bottom out
Where is the bottom then?
Posted on 1/11/16 at 8:37 pm to LSUAlum2001
quote:In what plausible scenario does cheaper gas sink the entire economy?
Sure, gas prices are cheap as shite, but when it sinks the rest of the economy, you happy fricks will be crying.
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