- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Oil hits $29 in anticipation of Iran's reentry into market
Posted on 1/18/16 at 7:46 am to Jim Rockford
Posted on 1/18/16 at 7:46 am to Jim Rockford
It will be interesting to see how some of the thug countries of the world react to this. Countries like Russia, the Middle East, and countries in South America have economies that require oil to be a lot higher than that for their economies to be sustainable. Add Iran's oil, the US now exporting natural gas and oil, and the OPEC flooding of the market with theirs and it is a sign of very low energy costs for the forseeable future.
The countries above are going to have to really be militarily disruptive to get any level of uncertainty in the market to get prices up.
In my opinion US fracking industry has turned the world's economic and political tug of wars towards the US and its allies. Russia can no longer hold Europe over the barrel in the winter because other countries can supply them much needed natural gas. Middle Eastern countries are less revalant because of their loss of oil market share on the world market. If they cut supply others now will take their spot in providing oil. They no longer have the ability to manipulate the market to that magnitude. Countries like Venezuela have been diminished.
It will be interesting to see what happens when the economies of these countries collapse.
I see groups like ISIS growing exponentially because of the economic plight caused be the US.
The countries above are going to have to really be militarily disruptive to get any level of uncertainty in the market to get prices up.
In my opinion US fracking industry has turned the world's economic and political tug of wars towards the US and its allies. Russia can no longer hold Europe over the barrel in the winter because other countries can supply them much needed natural gas. Middle Eastern countries are less revalant because of their loss of oil market share on the world market. If they cut supply others now will take their spot in providing oil. They no longer have the ability to manipulate the market to that magnitude. Countries like Venezuela have been diminished.
It will be interesting to see what happens when the economies of these countries collapse.
I see groups like ISIS growing exponentially because of the economic plight caused be the US.
0
Posted on 1/18/16 at 7:50 am to DownshiftAndFloorIt
quote:
The talks of layoffs are getting loud around here
I've been laid off before in 2013, in 2015, I made it through lay offs with my new company. Still employed for the time being.
Best advice I can give is don't buy anything you don't need, update the resume just in case, and don't start somehow working harder to try and make sure you aren't on the list. Nothing you do between now and then will help unless you land some multi million dollar deal that no one but you had anything to do with.
Posted on 1/18/16 at 7:51 am to redstick13
quote:
It's not going much lower, if at all. Just means more people out of work and more economic instability due to faltering markets overseas.
Enjoy
I take it you work in the oil and gas industry. When oil was over 100 per barrel were you and your coworkers hoping it would fall as many Americans were getting gouged at the pump? I doubt it.
Posted on 1/18/16 at 7:52 am to DownshiftAndFloorIt
quote:
The talks of layoffs are getting loud around here
There are more coming this quarter. The drop below $30 has triggered them.
Posted on 1/18/16 at 7:54 am to theronswanson
quote:
When oil was over 100 per barrel were you and your coworkers hoping it would fall as many Americans were getting gouged at the pump? I doubt it
We're they not filling up as well?
Posted on 1/18/16 at 7:57 am to theronswanson
quote:
When oil was over 100 per barrel were you and your coworkers hoping it would fall as many Americans were getting gouged at the pump? I doubt it.
The saying at a company I used to work for was "when the price of gas is high, at least we have the money in our pockets to buy it."
It was a very humbling way to look at it. We were grateful for the good times and still fearful of the bad.
Posted on 1/18/16 at 7:58 am to redstick13
quote:
Not until it drops below $20 and approaches $10. It will happen this year.
Before July IMHO
Posted on 1/18/16 at 7:58 am to theronswanson
quote:
I take it you work in the oil and gas industry. When oil was over 100 per barrel were you and your coworkers hoping it would fall as many Americans were getting gouged at the pump? I doubt it.
Do you assume people in the O&G industry don't have to buy fuel? They do. It becomes fairly difficult for us when we are not employed. The same as any other profession.
This post was edited on 1/18/16 at 7:59 am
Posted on 1/18/16 at 7:58 am to ShoeBang
I'm not too terribly worried because I'm the cheapest one in my department and am doing a good job. If the company doesn't crash I think I'm safe.
Still sucks though. I bought a house early last year before the bottom fell out. I'm fricking nervous.
Still sucks though. I bought a house early last year before the bottom fell out. I'm fricking nervous.
Posted on 1/18/16 at 8:03 am to DownshiftAndFloorIt
You will always have splitting wood to fall back on
Posted on 1/18/16 at 8:06 am to redstick13
quote:
Do you assume people in the O&G industry don't have to buy fuel? They do. It becomes fairly difficult for us when we are not employed. The same as any other profession.
So because they have chosen to work in that industry, the rest of the country should pay a high amount for a gallon of gas? How many non oil and gas industries were decimated by the high cost of fuel when it was over 100 per barrel? I doubt you had much sympathy for their plight and was praying that fuel costs would go down. Why would you expect the same treatment now that the roles are reversed?
This post was edited on 1/18/16 at 8:07 am
Posted on 1/18/16 at 8:07 am to Tino
If I get hacked there's a good chance I'll be spraying refractory again 
Posted on 1/18/16 at 8:11 am to theronswanson
quote:
theronswanson
Let me be more clear here. I didn't care for $100 per bbl anymore than most. My salary doesn't go up with the price of oil. It is money out of my pocket the same as any other person not in the O&G industry. However, when prices fall below break even as they are now, we don't care what the price is at the pump because a large majority of us are unemployed.
Get over your hatred for O&G workers.
Posted on 1/18/16 at 8:14 am to theronswanson
quote:
So because they have chosen to work in that industry, the rest of the country should pay a high amount for a gallon of gas? How many non oil and gas industries were decimated by the high cost of fuel when it was over 100 per barrel? I doubt you had much sympathy for their plight and was praying that fuel costs would go down. Why would you expect the same treatment now that the roles are reversed?
From which one of his post did you gather the materials for your diatribe jackass?
Posted on 1/18/16 at 8:19 am to redstick13
quote:
However, when prices fall below break even as they are now, we don't care what the price is at the pump because a large majority of us are unemployed.
Get over your hatred for O&G workers.
I have no hatred for oil and gas workers. I just don't care for the woe is me attitude when you have chosen to enter a field that is subject to extreme volatility. I knew many people who were laid off when oil was over 100 a barrel because their company had to find a way to absorb the high cost of fuel. So I'm sorry if you can't see that low gas prices help non oil and gas families. I hope you and your family have put money in savings and can ride out this dip.
This post was edited on 1/18/16 at 8:24 am
Posted on 1/18/16 at 8:21 am to theronswanson
Im in the oil & gas industry. I agree there needs to be a happy median on the prices but I seriously doubt when oil was at $100 bbl it noticeably curtailed your lifestyle. The current prices will do more harm than good in the long run, especially if you live in Louisiana.
Posted on 1/18/16 at 8:24 am to theronswanson
quote:.
I have no hatred for oil and gas workers. I just don't care for the woe is me attitude when you have chosen to enter a field that is subject to extreme volatility. I knew any people who were laid off when oil was over 100 a barrel because their company had to find a way to absorb the high cost of fuel. So I'm sorry if you can't see that low gas prices help non oil and gas families. I hope you and your family have put money in savings and can ride out this dip
You don't care for woe is me attitudes? You are sorry you think people can't see?
Go frick yourself troll, no one in this thread has done any of that yet here you are trying to shite on their graves. what a POS
Posted on 1/18/16 at 8:34 am to theronswanson
quote:
just don't care for the woe is me attitude when you have chosen to enter a field that is subject to extreme volatility
You do realize that someone HAS to do this work right? You're acting like this is an industry that has a choice to exist right now. Moran.
Posted on 1/18/16 at 8:38 am to Oates Mustache
quote:
Moran
If you are going to insult my intelligence, at least spell the aspersion correctly.
Posted on 1/18/16 at 8:42 am to cave canem
quote:
Iran needs a massive amount of upgrades to it's infastructure (in the billions) before they can pump much more than they have been, and nobody is going to do the investing right now.
Well, they fixing to get over hundreds of millions of dollars, if not billions that has been frozen in banks.
Page 2 of 4
Popular
Back to top
Follow TigerDroppings for LSU Football News