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re: People the grew up during the Louisiana Oil Boom in the 1970/1980s, what was that like?

Posted on 6/28/24 at 1:09 pm to
Posted by Jack Daniel
Gold member
Member since Feb 2013
28694 posts
Posted on 6/28/24 at 1:09 pm to
We could buy a house cash and raise an entire family on one income. It was terrible
Posted by facher08
Baton Rouge
Member since Aug 2011
5616 posts
Posted on 6/28/24 at 1:10 pm to
quote:

This is possibly the most Louisiana story ever.


Ha. Not bad for a guy from Philadelphia / South Jersey. He never left and ended up raising his family right there in the shitty.
Posted by cdhorn28
Member since Sep 2016
774 posts
Posted on 6/28/24 at 1:11 pm to
The brother rivalry at Knight Oil and Tools is a pretty wild story that stemmed from that time. It was later than the 80's, but the 80's is when their dad made all that money.
Posted by Eightballjacket
Member since Jan 2016
7894 posts
Posted on 6/28/24 at 1:17 pm to
Shreveport was rocking
Posted by TigerBR1111
Baton Rouge
Member since Sep 2014
8248 posts
Posted on 6/28/24 at 1:18 pm to
quote:

I’m shocked anyone educated still chooses to live there.


A lot of people after college choose to remain near friends and the people that love them. A person like yourself could probably live anywhere because nobody really gives a shite about you.
Posted by cajunandy
New Orleans
Member since Nov 2015
867 posts
Posted on 6/28/24 at 1:28 pm to
In the 70s the price for natural gas was regulated by the feds. They passed a law that deregulated "new gas". The oil companies started drilling new wells along side the old wells. The old wells, prices regulated, new wells set by the market. The Baker Hughes rig count today is 581, in 1981-82 the rig count peaked at around 4000. Business was booming.
My dad was a drilling engineer for an independent oil company and the gifts from the salesmen was unbelievable. I was in high school at the time. in 1979 Dad got 11 tickets to the LSU-USC game in tiger stadium. It was really crazy around Thanksgiving-Christmas. Booze, wine baskets smoked Turkeys, boxes of steaks, Shrimp oysters what every my dad wanted a salesman showed up with it. Hunting trips, elk hunting in Colorado, Dove hunting in Mexico ducking hunting in Louisiana deer hunting in Texas. All was paid by the service companies, I made my first GI tarpon rodeo around that time when it was just starting to get out of hand.
During college condos in Florida, I may still be banned from a couple of complexes. Dad got a couple of phone calls, he was not happy. good times
Posted by Adajax
Member since Nov 2015
8244 posts
Posted on 6/28/24 at 1:30 pm to
Mama was able to buy me a new pair of shoes.
Posted by The Torch
DFW The Dub
Member since Aug 2014
27737 posts
Posted on 6/28/24 at 1:31 pm to
I could fill my XR75 up for 67 cents
Posted by MTG325
Shreveport, LA.
Member since Oct 2011
470 posts
Posted on 6/28/24 at 1:38 pm to
I heard there was a Lamborghini/Ferrari dealership in Lafayette during that time.
Posted by BobABooey
Parts Unknown
Member since Oct 2004
15930 posts
Posted on 6/28/24 at 1:40 pm to
I was at LSU at the very tail end of the boom but it drove LSU’s heyday as a party school. Guys who had no real intent of graduating would work an oilfield job over the summer and come to school loaded. Tuition was extremely low because it was subsidized by oil money. It was the Animal House era. For better or worse, it will never be that way again.
Posted by Pedro
Geaux Hawks
Member since Jul 2008
38303 posts
Posted on 6/28/24 at 1:46 pm to
My parents never really talk about Morgan city during that time so enjoyed reading that moms from Franklin. Dad got moved down there by Walmart from Oklahoma in like 85 I think to remodel the Franklin walmart and met mom. Ended up taking an assistant manager job at the BV Wally World and settled in Patterson. Only place my mom has lived outside of st Mary parish is I think plaquemines parish for a bit in the 70s then moved back.
Posted by blueridgeTiger
Granbury, TX
Member since Jun 2004
22029 posts
Posted on 6/28/24 at 1:47 pm to
quote:

We could buy a house cash and raise an entire family on one income. It was terrible


We moved to Lafayette from Spring in the early 1970s. When we tried to buy a house in Lafayette for what we sold our house in Spring, we were shocked at how little we could buy for that money in Lafayette. We ended up paying considerably more for a smaller house, but over the next 10 years, we traded up a couple of times. In the mid-1980s, we built a home in the Greenbriar section of Lafayette. We were in it for less than a year when oil prices dropped precipitously. We had to sell to move to Dallas and got only about 60% of what it had cost us to build.
Posted by choupiquesushi
yaton rouge
Member since Jun 2006
33807 posts
Posted on 6/28/24 at 1:53 pm to
quote:

but I remember the bust. It seemed like it happened so fast too. Within like 6 months there were rent houses that popped up on our street like crazy. Trashy families moved in
section 8 turned many small towns into shitholes rapidly
Posted by Sofaking2
Member since Apr 2023
19450 posts
Posted on 6/28/24 at 1:59 pm to
Edwin Edwards and company raped the state for as much as they could and Louisiana had nothing to show for it.
Posted by facher08
Baton Rouge
Member since Aug 2011
5616 posts
Posted on 6/28/24 at 2:01 pm to
quote:

My parents never really talk about Morgan city during that time so enjoyed reading that


Ha. Probably because they were good parents and didn’t want to let their kids in on the shennanigans. Mine won't talk about specifics either. All I know is Dad had a shitty apartment in Verdunville because it was all he could afford. Divers were known as a pretty wild group.

quote:

Dad got moved down there by Walmart from Oklahoma in like 85 I think to remodel the Franklin walmart and met mom. Ended up taking an assistant manager job at the BV Wally World and settled in Patterson. Only place my mom has lived outside of st Mary parish


That's very similar to my parents. Dad from out of state and mom has never left St. Mary. He met my mom while she was working at my grandfather's Patterson Tru-Value Hardware store. Oceaneering laid-off my dad when mom was pregnant with me and he took a temp job working lumber at the Franklin Hill Behan.

ETA: That Wal-Mart eventually forced grandpa into early retirement, but no hard feelings.
This post was edited on 6/28/24 at 2:03 pm
Posted by Pedro
Geaux Hawks
Member since Jul 2008
38303 posts
Posted on 6/28/24 at 2:09 pm to
Oh shoot I think we talked about this before. that was the one by the Pizza Hut (game day pizza now) right?
Posted by facher08
Baton Rouge
Member since Aug 2011
5616 posts
Posted on 6/28/24 at 2:13 pm to
quote:

Oh shoot I think we talked about this before. that was the one by the Pizza Hut (game day pizza now) right?


I think we did.

Yea. It's been a tanning bed for forever since. At least, that's what the sign still says. Not sure if it's still open. I haven't been in there since he shut down.
Posted by jbird7
Central FL
Member since Jul 2020
5606 posts
Posted on 6/28/24 at 2:13 pm to
What caused the bust to happen?
Posted by Jim Rockford
Member since May 2011
104341 posts
Posted on 6/28/24 at 2:19 pm to
quote:

I was at LSU at the very tail end of the boom but it drove LSU’s heyday as a party school. Guys who had no real intent of graduating would work an oilfield job over the summer and come to school loaded. Tuition was extremely low because it was subsidized by oil money. It was the Animal House era. For better or worse, it will never be that way again.


Several guys in my pledge class had no career plans and some of them probably had no intention of actually graduating. They were just there for the party before going back to the real world.
Posted by redstick13
Lower Saxony
Member since Feb 2007
40408 posts
Posted on 6/28/24 at 2:27 pm to
I was really young but had an uncle in O&G who lived in Houma. We would take trips from LC to Houma frequently and 2 things I remember. A big unfinished house north of 90 between Lafayette and New Iberia and 4 lane 90 just abruptly stopping in MC for what seemed ages.
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