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Started By
Message
re: Oil field layoffs are really hitting SLa
Posted on 9/25/15 at 7:59 am to Swoopin
Posted on 9/25/15 at 7:59 am to Swoopin
quote:
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.
Many of the people being laid off are white collar jobs. These people have 20+ years of industry experience and have never worked in another industry. Everyone in the industry knows that if you are laid off now you are going to be out if a job for at least 6 months, probably more.
2
Posted on 9/25/15 at 8:10 am to CidCock
quote:
But when gas is $3.30/gal again and everyone in LA is fat and happy, remember that somewhere, someone can't afford to fill their tank.
Ya see it works both ways... People who can't afford gas at 3.30 a gallon need to save money when gas is at 2.00 a gallon.... The biggest problem with this is that people WASTE a TON of fuel just screwing around,,,Then complain that they can't afford it... I will never by a full size Chevy truck or the simple fact its a gas guzzler no matter how much it is a gallon... Now if you need one for work and such that's different... But I see people screwing around all the time with trucks they don't need./
Posted on 9/25/15 at 8:12 am to dukke v
quote:
Ya see it works both ways... People who can't afford gas at 3.30 a gallon need to save money when gas is at 2.00 a gallon.... The biggest problem with this is that people WASTE a TON of fuel just screwing around,,,Then complain that they can't afford it... I will never by a full size Chevy truck or the simple fact its a gas guzzler no matter how much it is a gallon... Now if you need one for work and such that's different... But I see people screwing around all the time with trucks they don't need./
For sure, works both ways. I'm just saying for the millions of people who don't work in OG, the savings on gas (even if they drive a civic) is money in their pocket. $3.30 a gallon is a hardship on a lot of folks.
I'm lucky enough that I can afford to fill up my tank, but some people aren't.
This post was edited on 9/25/15 at 8:13 am
Posted on 9/25/15 at 8:15 am to redstick13
I'm not in any danger of being let go but thankfully if I am I can move over to another industry with my experience and education. Can't say that for a lot of people out there
Posted on 9/25/15 at 8:21 am to Festus
quote:
But for the VAST majority of the country, isn't cheaper gas a positive effect?
Of course it is. I have a relative in a high level purchasing position at a multinational company. He said they are doing cartwheels because of the reduced costs related to cheap gas and are hiring folks to take advantage of it while it lasts.
It is sad to see a hardworking person lose their job but the O&G job lost in LA is a job gained somewhere else. FWIW the big companies are saying this is nothing but a market correction. The environment over the past few years was created by supply manipulation. The industry as a whole will be fine. The refineries are killing it with the reduced crude costs.
Posted on 9/25/15 at 8:22 am to redstick13
Agreed, and it's never fun to be out of work.
Irrespective of the price of gas, I hate to see people get let go. The overwhelming majority of these people will be hardworking individuals that get caught in market forces not of their doing.
Irrespective of the price of gas, I hate to see people get let go. The overwhelming majority of these people will be hardworking individuals that get caught in market forces not of their doing.
Posted on 9/25/15 at 8:43 am to N2cars
Not sure if anyone touched the issue "these guys are way over paid to do blue collar work ; plug and play etc.". Here's how it works, before you make these rediculous assumptions... The blue collars our there aren't making much more than 30-35k a yr. base. In today's economy that's pennies and we all know it. They make double that number Because they're sitting in the middle of the gulf working 12-18 hr shifts, away from home between 7-21 days at a time, and working in shite weather conditions. Oh, and ofcourse there's the chance that oh ya know, at anytime the rig can expode! I'll be the FIRST to tell you that it would have to be the very last job available for me to do it. Even then I'd hate it! The rediculous amounts of money pissed away aren't going in these guys pockets. It's actually going into the white collars pockets as bonuses and rediculous salaries. I'd consider my job white collar so I'm not trying to justify anything, just giving the run down on what I see every day. I'm just for the working man period. Blue, white, doesn't matter
Posted on 9/25/15 at 8:45 am to yellowfin
I'm not in any danger either but I've had to lay off several of my people. Getting divorced last year worked in my favor. I took a live in position after the divorce and got locked into a 3 year contract with a high salary. Now as part of my company's cutbacks, they are making all rotational positions live in positions with single people being in higher demand than people with families.
I was friends with our Director of BD. He got laid off last month right after landing a a new contract and opening up a new market for the company.
Brutal
I was friends with our Director of BD. He got laid off last month right after landing a a new contract and opening up a new market for the company.
Brutal
Posted on 9/25/15 at 8:50 am to JJBTiger2012
quote:
Not sure if anyone touched the issue "these guys are way over paid to do blue collar work ; plug and play etc.". Here's how it works, before you make these rediculous assumptions... The blue collars our there aren't making much more than 30-35k a yr. base. In today's economy that's pennies and we all know it. They make double that number Because they're sitting in the middle of the gulf working 12-18 hr shifts, away from home between 7-21 days at a time, and working in shite weather conditions. Oh, and ofcourse there's the chance that oh ya know, at anytime the rig can expode! I'll be the FIRST to tell you that it would have to be the very last job available for me to do it. Even then I'd hate it!
But for every one of these, there's the guy bragging about how he makes $150k/yr to service something that may break once per month. I'm not saying screw the hand working on the rig but you have to understand why some aren't crying tears of sympathy.
Posted on 9/25/15 at 8:53 am to skullhawk
Some people aren't crying tears of sympathy because it's a cyclical market with high wages. This should have been expected.
Obviously nobody wants to see people out of work, but this is what they signed up for...
Obviously nobody wants to see people out of work, but this is what they signed up for...
Posted on 9/25/15 at 9:53 am to dukke v
Same should apply then to the high paid oil field position, save your money for times like this, its the powers that be who screw this up knowing this dip in oil will naturally happen like it's supposed to do or be, if we keep the price of oil cheap..these same oil field positions are settling in other areas with job security and gas at the pump stays low...these high paid exec dgaf about u cause they were in a position to make thse contracts happen and sit on their millions and doesnt affect them...ask yourself, "where are they now?"..they wont show up to help you or give you some of their billions to give u transition time pay to another job ....instead we bitch and cry about family's this and that when it was "your decisison" to work in the oil field when u could have chosen something else....now go find a "permanent" position and rid yourself and your family this stress....yes it is sad but I refuse to be made to feel bad for anyone who signs up for a job that won't be there in a few yrs....jmo
Posted on 9/25/15 at 10:23 am to GreatLakesTiger24
quote:
Some people aren't crying tears of sympathy because it's a cyclical market with high wages. This should have been expected.
Obviously nobody wants to see people out of work, but this is what they signed up for...
This isn't your typical cycle. In a typical downward cycle VPs, Directors, Upper and Middle management aren't affected much, if at all. These people have been hammered this time. These are people in their mid to late 30's to 50's who aren't well positioned to restart a career.
This is the worst downward cycle I've experienced and I've been through many.
This post was edited on 9/25/15 at 10:26 am
Posted on 9/25/15 at 10:33 am to GreatLakesTiger24
I do think people feel that everyone making high wages is useless and overpaid. The downturn just levels it out. In reality, most of your truck nut having F250 driving guys are making less than 70k and that's working 7-7 while pulling weekend and emergency shifts. Only skilled 5-10 year experienced people are making 6 figures. Skilled may not mean college degree, but they do have a skillset. As an engineer, I turn to my field guys for answers constantly. In most downturns, the fat get trimmed. People that you expect to get let go are fired. They've let go a few people that shocked me to be honest.
And to the people talking about us being fat and happy at 3.30 a gallon, I don't get a raise purely based on fuel price, so I don't really feel anything other than knowing companies are continuing to drill. But don't act as if that is destroying people. That has been the set price due to supply and demand for nearly 5 years and we've seen economic improvement over that time. That is a price our economy can afford (although personally I do like the lower prices). Just saying it's a false low right now. For half a decade, consumers agreed to price was fair. It wasn't big oil putting the screws to you. You could have stopped buying lowering demand and price, but you didt. It's been widely stated that the cost of Gas that truly effects most people day to day is over 4 bucks.
And to the people talking about us being fat and happy at 3.30 a gallon, I don't get a raise purely based on fuel price, so I don't really feel anything other than knowing companies are continuing to drill. But don't act as if that is destroying people. That has been the set price due to supply and demand for nearly 5 years and we've seen economic improvement over that time. That is a price our economy can afford (although personally I do like the lower prices). Just saying it's a false low right now. For half a decade, consumers agreed to price was fair. It wasn't big oil putting the screws to you. You could have stopped buying lowering demand and price, but you didt. It's been widely stated that the cost of Gas that truly effects most people day to day is over 4 bucks.
Posted on 9/25/15 at 1:43 pm to SpiderY2Bannana
Yeah, I was Industrial Engineering at A&M.
Posted on 9/25/15 at 2:36 pm to JJBTiger2012
I hate it for the oil field hands. I really do.
Pharmas been going through these lay offs for years. Haven't heard any sympathy for them.....
Pharmas been going through these lay offs for years. Haven't heard any sympathy for them.....
Posted on 9/25/15 at 2:57 pm to skullhawk
quote:
The refineries are killing it with the reduced crude costs.
In the first half of the year, this was true, but I've been hearing more recently that crack spreads are back to being small and shrinking.
Posted on 9/25/15 at 2:57 pm to KG6
quote:
It's been widely stated that the cost of Gas that truly effects most people day to day is over 4 bucks.
I don't believe gas should cost over $2 a gallon.
Posted on 9/25/15 at 3:02 pm to redstick13
quote:
This isn't your typical cycle. In a typical downward cycle VPs, Directors, Upper and Middle management aren't affected much, if at all. These people have been hammered this time. These are people in their mid to late 30's to 50's who aren't well positioned to restart a career.
This is the worst downward cycle I've experienced and I've been through many.
Yup. If and when WTI stays down here (or lower) for a protracted period of time, it is going to obliterate scores (if not hundreds) of upstream and services companies. I suppose the good news is that the cure for low prices is low prices, so at some point, there should be a self-correcting mechanism.
Several years ago, I took a trip to southeast New Mexico to examine the towns of Carlsbad and Hobbs to see if there was any investment worth making in the West Permian as a derivative of the energy play. I came away shaking my head at how blindly dependent the entire thing was on oil being $90 or higher (Carlsbad less so, as they have the potash and nuclear industries to support them as well.)
It was the entire "F250 meme" on steroids. I have to imagine they are dying on the vine now.
Posted on 9/25/15 at 3:15 pm to dukke v
I have a truck that is 13 years old that I drive to work 4-5 days a week 75-80 miles round trip each day.
What used to cost me $125 a week now costs me $60. $65 a week savings at 4 weeks = $260 a month which is a lot for me since my divorce last year.
I have family and friends in the oil industry. Some are employed and some are not but like any job there is a risk of not being employed.
Louisiana is a right tobwork state. Mine and your boss could come into work today and fire us for no reason,
What used to cost me $125 a week now costs me $60. $65 a week savings at 4 weeks = $260 a month which is a lot for me since my divorce last year.
I have family and friends in the oil industry. Some are employed and some are not but like any job there is a risk of not being employed.
Louisiana is a right tobwork state. Mine and your boss could come into work today and fire us for no reason,
Posted on 9/25/15 at 3:20 pm to meeple
quote:
I don't believe gas should cost over $2 a gallon
And I think cars should be free. I can play that game too. Gas has been over 2 bucks for a decade. Just because you think it should be lower doesn't mean it should. Supply side of the curve doesn't mean that producers should flood the market with oil since it's available. It means they should restrict supply to the point that they maximize profits. Restrict to far and demand will be affected. You reach a balance. That balance has been at 3 bucks plus for 5 years. I like the low costs as much as the next guy, but it's false. This is purely a supply issue (oversupply). The demand is there at 3 bucks a gallon.
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