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Started By
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re: Prices Fall to a Six-Year Low for U.S. Oil
Posted on 3/17/15 at 9:31 am to ShaneTheLegLechler
Posted on 3/17/15 at 9:31 am to ShaneTheLegLechler
Healthcare people just jealous of those with no degree and no student loans making as much or more than them.
2
Posted on 3/17/15 at 9:32 am to panterica
quote:
The low prices are from a shift in world supply. They sell less to the US, they have less money. Less money is less power.
The low prices are low because of the increase in production and soft demands. Those things will reverse.
Posted on 3/17/15 at 9:33 am to KG6
quote:
NOLA really isn't that heavily invested in oil.
Big oil pretty much pulled out of New Orleans in the 80s, Chevron is still across the lake in Covington though.
ETA: rumors running through company that Covington office and Lafayette office will be shut down next year
This post was edited on 3/17/15 at 9:34 am
Posted on 3/17/15 at 9:33 am to marcnbc
Current oil prices can be good for the overall economy, but if they get in the 20's or below the economies of LA, TX and all other major oil producing states will suffer just like they did in the 80's. In the early 80's people were packing up and walking away from their homes in the Houston area. It was very bad for everyone. Baton Rouge, Shreveport and New Orleans saw massive downturns. Shreveport was the worst of the three. New Orleans had tourism and conventions and BR had LSU and State seat.
At this time I don't see things deteriorating to that extent but no one should feel immune. The whole infrastructure of the State suffered greatly until the mid 90's from the crash of the 80's.
At this time I don't see things deteriorating to that extent but no one should feel immune. The whole infrastructure of the State suffered greatly until the mid 90's from the crash of the 80's.
Posted on 3/17/15 at 9:34 am to LSU0596
didn't read the thread but i'll go ahead and say i'm buying a good bit of vgenx, vde & dbo right now
Posted on 3/17/15 at 9:34 am to KG6
quote:
Houston is diversified, but it's got a good bit of oil.
"A good bit of oil." These are Houston's Fortune 500 companies.
quote:
As of 2013, 24 Fortune 500[2] companies are headquartered in Houston. In addition, Anadarko Petroleum OIL is headquartered in The Woodlands.
4 Phillips 66 OIL
45 ConocoPhillips OIL
64 Enterprise Products Partners
65 Sysco
77 Plains All American Pipeline OIL
106 Halliburton OIL
135 Baker Hughes OIL
144 National Oilwell Varco OIL
167 Apache OIL
174 Marathon Oil OIL
200 Waste Management
233 EOG Resources OIL
265 Kinder Morgan OIL
310 Cameron International OIL, kinda
334 KBR OIL
343 Group 1 Automotive
344 CenterPoint Energy
381 Enbridge Energy Partners OIL
397 Quanta Services
417 FMC Technologies OIL
435 Targa Resources OIL
451 MRC Global OIL
459 Calpine
475 Spectra Energy OIL
Not known Buckeye Partners OIL
Not known Noble Energy OIL
That's just Fortune 500. Tip of the iceberg.
This post was edited on 3/17/15 at 9:41 am
Posted on 3/17/15 at 9:37 am to yellowfin
quote:
I'm looking at cutting cable because I don't really watch TV, tried to read the thread on the nerd board but it's over my head
I have a "smart TV" and the internet. I can watch all the shows I need through streaming (besides sports). It's been almost 4 months and it isn't even noticeable that I don't have cable. It will suck during college football season, but I may just nut up and pay for cable for a few months.
Posted on 3/17/15 at 9:38 am to LSU0596
quote:
With experts predicting that gas prices will continue to rise into the spring because of reduced production at U.S. refineries, and assuming gas prices affect how Americans look at the economy, it could be difficult for economic confidence to recover its recent momentum without significantly positive economic news elsewhere.
LINK
Posted on 3/17/15 at 9:39 am to KG6
quote:
(besides sports).
quote:
but I may just nut up and pay for cable for a few months.
SlingTV (you can't pause the TV though and only get one receiver)
$25 and all the sports channels streamed through $40 Amazon Fire Stick (which I have and friggin love). No contract either.
I am very close to pulling the trigger on it. That $25 also has CNN, etc.
This post was edited on 3/17/15 at 9:40 am
Posted on 3/17/15 at 9:39 am to GaryMyMan
It will impact the midstream companies like Enbridge Enterprise and Kinder Morgan differently though than the upstream E&Ps or service companies
Posted on 3/17/15 at 9:39 am to RedRifle
quote:
Also Houston's economy is very diversified. Oil is just what the rubes see.
If oil stays this low for an extended period Houston is going to get hurt badly...to think otherwise and buy into the diversification is to be a real rube. The housing and commercial real estate markets will get crushed. Houston along with the state of Texas will suffer massive revenue losses. Do you not find it notable that the Houston boom coincides exactly with the rise of oil & gas prices in the early 2000s?
Posted on 3/17/15 at 9:40 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 can say with 100% certainty that the price of oil has no bearing on whether or not Xray machines break in my region.
Posted on 3/17/15 at 9:40 am to tgrbaitn08
quote:
The low prices are low because of the increase in production and soft demands.
That's true, but the production increase was partially a subtle political "f you guys" between us and the middle eastern countries.
I'm just saying it's not as scary as it sounds. I'm in the oil game here in LA and things aren't slowing down at all for the next couple years at least. I'm including plastics and other downstream type processes. People will be okay here.
Posted on 3/17/15 at 9:41 am to panterica
quote:
but the production increase was partially a subtle political "f you guys" between us and the middle eastern countries.
no it wasnt...you're an idiotPosted on 3/17/15 at 9:42 am to Nado Jenkins83
quote:
Healthcare people just jealous of those with no degree and no student loans making as much or more than them.
I am in healthcare but have no student loan debt.
My degree and industry will give me job security OandG people won't ever have.
People are always going to get sick and die (Baby Boomers about to be Dead Boomers
), but energy is always going to be a changing landscape. ETA:
But I definitely don't make the money that my OandG friends do at the age of 27.
This post was edited on 3/17/15 at 9:44 am
Posted on 3/17/15 at 9:43 am to panterica
quote:
That's true, but the production increase was partially a subtle political "f you guys" between us and the middle eastern countries.
No it wasn't...American oil companies are independent, private profit driven businesses...they're not political instruments of our government.
quote:
I'm including plastics and other downstream type processes. People will be okay here.
People in the refineries, but not people in the E&P side, the service companies which are a much larger sector.
Posted on 3/17/15 at 9:45 am to cwill
quote:
Do you not find it notable that the Houston boom coincides exactly with the rise of oil & gas prices in the early 2000s?
I am on the younger side but I don't remember the economy here being horrible in the late 90s when oil was $20-30. It will certainly curb the building but Houston isn't going to become Detroit
Posted on 3/17/15 at 9:45 am to Austin Cajun
quote:
I can say with 100% certainty that the price of oil has no bearing on whether or not Xray machines break in my region.
so what are you going to grease those bearings with???
Posted on 3/17/15 at 9:45 am to TheCaterpillar
From my personal experience what I said is true. Overall healthcare workers think they know everything.
Doesn't mean we still don't need em and that I do appreciate the service they provide.
Doesn't mean we still don't need em and that I do appreciate the service they provide.
Posted on 3/17/15 at 9:47 am to RedRifle
Heard a rumor yesterday that all Shell employees, full time and contract, were getting a 15% pay cut. Anyone else hear this? Hard for me to believe.
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