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Started By
Message
re: Oil field layoffs are really hitting SLa
Posted on 9/24/15 at 7:21 pm to jlc05
Posted on 9/24/15 at 7:21 pm to jlc05
quote:
Another company is going to announce on Oct. 5th 1500 layoffs..
I was told by a current Conoco employee that they would receive emails on Oct. 5th if they will be impacted. I also have two neighbors that work for them. One close to retirement that is expecting to be impacted, but he is 2 years from his planned exit. He figures the package will get him four months shy of that date. The other neighbor is 29 and her entire project has been scrapped.
0
Posted on 9/24/15 at 7:21 pm to Agforlife
quote:
The cheap energy doesn't offset the money lost when these people are not working not to mention the money lost because of secondary jobs being lost and businesses being closed it trickles down whether you believe it or not. Then again maybe I'm just jaded having seen it in the 80's when whole areas turned into ghost towns and there were empty buildings all over Houston and the Gulf Coast.
Not for most of the country, man. The 80's, while a terrible time for O&G, saw some of the most explosive economic growth in American history.
I feel for those who lose their jobs. My dad lost his white collar management job when I was middle school when tobacco went south in the late 1990's. I know how it can affect a family, and I know how tough it is.
But that doesn't mean I can't look at the big picture and understand how it helps more than it hurts.
Posted on 9/24/15 at 7:21 pm to dukke v
quote:Geez. What did he say that isn't true?
Wow...GFY dipshit.... Not sure what you do for a living but I wish bad things for you after reading your post... Move to another country punk bitch......
Sorry dude.. That's just the way it is.....
You must have been spoon-feed your whole life... Sad.........
Should we all have to pay above market value simply to maintain the existence of jobs?
That doesn't make sense.
Posted on 9/24/15 at 7:21 pm to malvin
quote:
I see people say this a lot. When will this happen? It's been a year now. Do you think these other industries will lower their prices? Or will they just enjoy their higher margins and become the devil eventually like big O&G?
This right here. Prices aren't going to come down. Profits for the manufactures are going to go up. These companies are going to rake it in while they can.
Posted on 9/24/15 at 7:23 pm to AbuTheMonkey
Hunted with a guy that owns a trucking company this weekend. He told me he does much better when prices are high. Better margins.
Posted on 9/24/15 at 7:23 pm to JJBTiger2012
It does suck for LA. But it is predictable. It is a very cyclical industry. These workers should save in the good times for the bad times that are certainly coming. It isn't rocket science.
Posted on 9/24/15 at 7:25 pm to Scruffy
I'm looking forward to the oil field workers starting threads in 2 years when gas in $3.50 a gallon.
Posted on 9/24/15 at 7:25 pm to LSU316
quote:
I'm starting in this industry on Monday....DBA/Dev.
Honestly to an outsider looking in this feels like a very bloated industry righting itself. I could be wrong, but that's what it feels like....healthcare went through the same thing 4-5 years ago.
Wouldn't be in a little town west of Lafayette, would it?
Posted on 9/24/15 at 7:26 pm to lsu13lsu
The reason there isn't a ton of sympathy is all the threads on here when gas was $4/gallon and the O&G folks were trading in their 1 year old F350 KR's for the next model.
A little hard for those of us who don't have spurts of employment where money is falling out of our pockets and there is no good reason to bend over and pick it up.
A little hard for those of us who don't have spurts of employment where money is falling out of our pockets and there is no good reason to bend over and pick it up.
Posted on 9/24/15 at 7:26 pm to onelochevy
quote:
This right here. Prices aren't going to come down. Profits for the manufactures are going to go up. These companies are going to rake it in while they can.
How is it that so many people here don't have the slightest inclination of the most basic principles of economics.
Oh, and by the way, it's manufacturers, not manufactures.
Posted on 9/24/15 at 7:28 pm to thegreatboudini
quote:Scruffy fully expects them to.
I'm looking forward to the oil field workers starting threads in 2 years when gas in $3.50 a gallon.
Scruffy has many friends in the oil industry considering he is from New Iberia.
This sucks for many of them.
Posted on 9/24/15 at 7:29 pm to roadGator
quote:
by roadGator
How's' the f250 market?
If I can pick up some cheap in LA and bring them back to FL I may be able to help folks in both States?
I'm sure you can get some jet skies, speedboats, trailers, atvs, campers and flat screens on the low as well.
Posted on 9/24/15 at 7:30 pm to The First Cut
quote:
How is it that so many people here don't have the slightest inclination of the most basic principles of economics.
Oh, and by the way, it's manufacturers, not manufactures.
And even besides that, if manufacturers, logisticians, agriculture, retail, and all the other industries that stand to make a killing off cheaper energy pocket their extra margins, that money either goes to shareholders (you and me) or expansion (economic growth).
Posted on 9/24/15 at 7:31 pm to The First Cut
I was the one that asked the original question. I understand basic economics. Input prices have been down for a year now. My question is when will that cost savings be passed on to the consumer? For the most part it hasn't happened yet.
When do we start calling for the heads of other industries for making money while they can? I've never seen that before. But big oil and their record profits have been the fricking devil forever
When do we start calling for the heads of other industries for making money while they can? I've never seen that before. But big oil and their record profits have been the fricking devil forever
Posted on 9/24/15 at 7:33 pm to malvin
How
This post was edited on 9/24/15 at 7:34 pm
Posted on 9/24/15 at 7:34 pm to JJBTiger2012
It makes my stomach turn for those who are working to support their families. My husband and I are both self employed and I worry about my job (albeit part time) more than his. He's a farmer and we all need to eat.
Posted on 9/24/15 at 7:39 pm to onelochevy
quote:
This right here. Prices aren't going to come down. Profits for the manufactures are going to go up. These companies are going to rake it in while they can.
Positive outcomes/scenarios of lower O&G revenues:
1) The entire consumer base has more money to spend on other goods and services. Economic utility for these people goes up (they get more economic value for their dollar).
2) The industries the consumers spend more on benefit. A)More hiring/better wages for employees in those industries. B) Worst case, executives/shareholders get better margins and then THEY spend more money in the economy until inevitably 2A materializes.
3) People save more. Cost of borrowing/investing in our economy goes down and thus innovation/economic infrastructure is improved.
Negative impact:
4) O&G employment suffers.
No0w...
If I stop there, I'd say at worst its a net break even with other industries getting the dollars coming their way.. However, if O&G workers move into something they are PERPETUALLY more valuable at doing, then the economy grows. US economy is more efficiently allocated as a result and as a whole the country is better off.
This post was edited on 9/24/15 at 7:40 pm
Posted on 9/24/15 at 7:45 pm to Swoopin
quote:
Swoopin
Stop bringing all your logic and educated, objective points into this conversation...they have no place here.
Posted on 9/24/15 at 7:46 pm to Swoopin
quote:
The entire consumer base has more money to spend on other goods and services. Economic utility for these people goes up (they get more economic value for their dollar).
Not necessarily, and they don't necessarily spend a significant amount more.
Despite oil prices going down recently, consumer spending is expected to remain flat.
Posted on 9/24/15 at 8:01 pm to jimbeam
quote:
How
Yep
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