re: Rumor Shell is closing down its New Orleans operations

Banks are the ones caught holding the hot potato on all these mom and pops that will be closing the doors

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i say buy with rent being as stupid as it is

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would you rather be holding a $150k+ mortgage or a $6-10k lease if we face an economic downturn?

Yes this is true. Shell built a massive complex in the energy cooridor called Woodcreek complex. Integrating all US offices to Houston

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Rumor Shell is closing down its New Orleans operations
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I still don't understand why people on TD hate anything oilfield related.

because the OT hates trash and the oilfield is seen as trash that made it (and in booms, often in higher income brackets)

there is a bit of jealousy and self-doubt on top of the usual, generic hate

some oilfield workers going out of their way to show off their incomes during the booms doesn't help, either. the OT, being a more educated, risk-averse, and conservative group, know that it's only a matter of time before that behavior blows up in the workers' faces. when that time comes, they seize on it

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Basically this. For example, I have a Facebook acquaintance that's married to an oilfield guy. Looking at her Facebook she's got a shite ton of pics of them on the cigarette boat they bought into with a bunch of other baws. Bunch of pics on the river, lots of "look at me" toys. Now, her feed is filled with gloom and doom stories and posts about "Hope you're enjoying your cheap gas."

I mean, I feel bad for anyone that loses the ability to provide for their family. Hell, I've been through a lay off and I had two companies in 4 years go out of business that I worked for. (Luckily I was able to find another job before it went under both times). But I also don't make obscene amounts of money greater than my experience/education either. If I was in a super volatile field where I was raking in cash, I wouldn't be blowing it on $400K boats and $100K trucks. That's were the animosity comes in.

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Looking at her Facebook she's got a shite ton of pics of them on the cigarette boat they bought into with a bunch of other baws. Bunch of pics on the river, lots of "look at me" toys. Now, her feed is filled with gloom and doom stories and posts about "Hope you're enjoying your cheap gas."

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Should reply with "Hey at least it doesn't cost as much for you to fill up the boat"

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Exactly, the cost of operation is outrageous. Hell we spend a billion+ a year just on r&d. If you think about what goes into making a gallon of gas and the fact that it is cheaper than a gallon of milk, oj and water is fricking insane and impressive. 

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I use to work as a chemist for a 3rd party testing company after college. The costs oil companies incurr just for routine analysis is horrendous not to mention all the taxes and "fees" placed on barges and transport.

yeah it's never-ending cycle

lower class mentality involves lots of bragging over whatever material possessions can be accumulated and spending money as it comes in (b/c they can't see the long game and live minute-to-minute)

so when times are good, they will buy all sorts of material items to brag and will overextend themselves (again, inability to think/see long term). they will go out of their way to make sure everyone knows of their possessions, too (and with social media, this intensifies)

then things turn poorly, they go bust/bankrupt, and this reinforces the lower class mentality by reminding them how fleeting life is. then they live in squalor for a while, reinforcing this mindset, until the next boom happens.

that's just the life/mentality of poor people

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If you're not a fricking idiot and don't buy a 400k house in Lakeview or river ranch i say buy with rent being as stupid as it is

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Just bought last month, my mortgage is 1/2 my rent.

Of course I bought a fixer upper, and not in some sprawl new development that falls to shite when the economy goes bad because everyone in the neighborhood bought on some 100% RD loan.

If jobs are simply moving to Houston then they aren't being cut. Which is it?

It's both. There are jobs being cut, while the company executes a transfer. What's so hard to believe about that?