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re: Prices Fall to a Six-Year Low for U.S. Oil
Posted on 3/17/15 at 8:49 am to panterica
Posted on 3/17/15 at 8:49 am to panterica
quote:I was wondering how long it would be until this brand of stupidity showed up.
The middle east is about to have to come to terms with the fact that their rich folk are gonna have to order the silver Mercedes instead of the gold.
1
Posted on 3/17/15 at 8:50 am to Nado Jenkins83
It's inevitable the Feds will raise the gas tax. It's just a matter of time.
Posted on 3/17/15 at 8:54 am to htownjeep
quote:
was wondering how long it would be until this brand of stupidity showed up.
It was an exaggeration, dumbass. But I've lived in the Middle East for years and seen first hand the kind of money they have from oil. They benefited more from high prices than anyone here in the States. Low prices now are a result of domestic drilling and taking power away from OPEC.
This post was edited on 3/17/15 at 8:56 am
Posted on 3/17/15 at 8:54 am to GREENHEAD22
quote:
You say that but if you live in LA or TX and this gets extended longer than a year you are going to feel it no matter what you do for a living.
I'm just guessing but I'll probably be alright. However, I'll still shed a tear for all the hood rich oil field boys in Crowley and Rayne whose F-250s are getting repo'd and whose mortgages are 3 months behind. I'll shed a tear just like they shed one for me when the Feds cut medicare payouts by damn near 20% 5 years ago and have been cutting every since. Yea I appreciated those tears....wait!!!
You reap the benefits of the industry you are in and deal with the consequences as well. The oil guys are the only ones that expect (and receive) sympathy from us other folks.
Posted on 3/17/15 at 8:57 am to LSU316
There has been way more complaining about oil guys' complaining than there has actually been oil guys complaining
Posted on 3/17/15 at 8:57 am to LSU316
quote:
You reap the benefits of the industry you are in and deal with the consequences as well. The oil guys are the only ones that expect (and receive) sympathy from us other folks.
No, we have people call us greedy crooks when times are good and then laugh at our troubles when times are bad just like you did
frick the lower level workers who are getting laid off though right, it's their fault!
Posted on 3/17/15 at 8:57 am to GREENHEAD22
quote:
You say that but if you live in LA or TX and this gets extended longer than a year you are going to feel it no matter what you do for a living.
Wow this is wrong.
Non-O and G people actually get cheaper goods and services from this, leaving them with more spending money or savings.
So if you mean they'll feel it in a good way, I agree.
Posted on 3/17/15 at 8:57 am to marcnbc
quote:
I live in Shreveport and oil prices don't affect chit around here.
This is the dumbest comment in a thread full of dumb comments.
Posted on 3/17/15 at 9:01 am to ShaneTheLegLechler
quote:
we have people call us greedy crooks when times are good
Dumb people
quote:
laugh at our troubles when times are bad just like you did
You talking about the guys that couldn't graduate high school pulling down damn near 200K a year when oil is good....yes they do that for sure just like I did as a little payback
quote:
frick the lower level workers who are getting laid off though right, it's their fault!
Again....it is the same in any industry. You think large healthcare firms laid off CEOs and doctors in 2008-2010? Hell no they laid off nurses, techs, and assistants.
Posted on 3/17/15 at 9:01 am to Croacka
quote:
Many of the reasons that most groceries won't go down are the same reasons that oil was held high for so long
It's because there is a constant demand
It's not that. Once you get used to paying as price for something, there's not a ton of incentive for companies to drop their prices
Posted on 3/17/15 at 9:02 am to LSU316
quote:
Again....it is the same in any industry. You think large healthcare firms laid off CEOs and doctors in 2008-2010? Hell no they laid off nurses, techs, and assistants.
Right, but I'm not laughing at and making fun of the nurses and techs who got laid off.
Posted on 3/17/15 at 9:03 am to Thib-a-doe Tiger
Exactly what I said
The demand is constant = you are going to keep buying the groceries you buy out of habit.
The demand is constant = you are going to keep buying the groceries you buy out of habit.
Posted on 3/17/15 at 9:05 am to ShaneTheLegLechler
If they have been laid off then the fact is they just were not as important as they thought they were. A lot of companies are using the low prices to trim the fat. Can't blame them.
Posted on 3/17/15 at 9:05 am to LSU316
quote:
Again....it is the same in any industry. You think large healthcare firms laid off CEOs and doctors in 2008-2010? Hell no they laid off nurses, techs, and assistants.
Just as many highly educated people and managers are getting cut as your oil field trash guys.
Posted on 3/17/15 at 9:06 am to Croacka
quote:
Exactly what I said
The demand is constant = you are going to keep buying the groceries you buy out of habit.
The store brand stuff will go down and name brands will notice that and discount their items. It just won't be immediate or drastic.
I know I'm more likely to travel via vehicle and spend money because I am paying half for gas as I used to.
Posted on 3/17/15 at 9:08 am to TheCaterpillar
Cost of travel is really the biggest impact that consumers will see firsthand
Not much else will come down enough to effect them IMO
Oil prices will go back up before most stuff starts getting cheaper if I had to guess
Not much else will come down enough to effect them IMO
Oil prices will go back up before most stuff starts getting cheaper if I had to guess
Posted on 3/17/15 at 9:10 am to Croacka
I agree for the most part.
It will stop things from going up as quickly though, which is indirect savings most people don't notice. Prices plateau a bit more when companies have lowered shipping costs.
It will stop things from going up as quickly though, which is indirect savings most people don't notice. Prices plateau a bit more when companies have lowered shipping costs.
Posted on 3/17/15 at 9:10 am to Croacka
I am pretty plugged into the industry. Will be a multi-year recovery. Oil won't touch 100 again before 2017
Posted on 3/17/15 at 9:11 am to TheCaterpillar
quote:
Non-O and G people actually get cheaper goods and services from this, leaving them with more spending money or savings.
No one is denying that low oil prices free up money in peoples pockets. What we are saying is that in certain areas, the economy is invested deeply in the oilfield (i.e. all along Hwy 90 in Louisiana). Price of goods being low in those areas isn't going to be that beneficial if unemployment is around 25%. It's going to hurt in those towns as the oil and gas workers are a big part of the economic spending.
Big picture, yes, cheap gas is good for everyone. Small scale for South LA and Texas, not so good.
Posted on 3/17/15 at 9:12 am to Thib-a-doe Tiger
I'm not talking about 100
I'm thinking leveling back off in the 60ish range
I think we are a long time or a war away from 100
I'm thinking leveling back off in the 60ish range
I think we are a long time or a war away from 100
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