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Message
re: Texas economy is cratering
Posted on 3/30/15 at 10:53 am to Tommy Wayne
Posted on 3/30/15 at 10:53 am to Tommy Wayne
quote:
Hard to feel sorry for oil/gas companies making 20-25 billion profit a quarter when they were fricking us with $3.75 a gallon gas.
Oil companies don't determine the price of oil, the market does, you dufus
1
Posted on 3/30/15 at 10:56 am to 3nOut
quote:
hyperbole much?
And yes, hyperbole..that's just Jim Rockford, he seems to get his jollies in posting about oil prices tanking and the industry trending down.
Posted on 3/30/15 at 10:58 am to stout
I just don't understand the hate for an industry that allows people in your region ( neighbors, family members, etc.) to have a thriving and stable lifestyle. But yet there are companies that make the same profits while outsourcing to foreign counties and no one has a problem with it.
Posted on 3/30/15 at 11:00 am to Jimbeaux28
quote:
Welcome to Louisiana in the mid-Eighties
This
Posted on 3/30/15 at 11:02 am to TheIndulger
quote:
Oil companies don't determine the price of oil
Not on paper. You're right.
quote:
the market does
Sooo, you dont think these companies has any affect on this "market" you're speaking about?? Im totally sure there is no manipulation going on.
Posted on 3/30/15 at 11:02 am to Jim Rockford
quote:
Texas economy is cratering
You haven't Been to Austin in a while. Place is booming. Their economy is completely diversified.
This post was edited on 3/30/15 at 11:03 am
Posted on 3/30/15 at 11:03 am to LoveThatMoney
quote:
Houston, Dallas, Austin, and San Antonio are fine,
It could definitely hurt Houston. Not in a Detroit kind of way, but it could be quite a bump.
Posted on 3/30/15 at 11:04 am to Jack Daniel
quote:
I just don't understand the hate for an industry that allows people in your region
How am I hating?
It is a free market however and O&G should learn to live by it like everyone else in the USA instead of mocking people that enjoy cheaper gas and insisting we pay more so they can keep their jobs. That's communism.
When the RE bubble popped I didn't see the same O&G guys telling everyone to keep paying inflated prices for houses so I could keep building and developing. I had to lay off a bunch of people and even quit using many subs who also had to lay off people.
Why is O&G more special than any other free market?
Posted on 3/30/15 at 11:04 am to Jim Rockford
quote:
The latest manufacturing outlook index from the Dallas Fed plunged again in March, to -17.4 from -11.2 in February, indicating deteriorating business conditions in the state.
Expectations were for the index to show a reading of -9.
So not as bad as what was expected
Posted on 3/30/15 at 11:04 am to sheek
I wish someone would tell the Houston appraisal district about this cratering economy so my tax bill will go down.
Posted on 3/30/15 at 11:05 am to Jim Rockford
My God I hope Cheston is ok.
Posted on 3/30/15 at 11:08 am to Tommy Wayne
quote:
Hard to feel sorry for oil/gas companies making 20-25 billion profit a quarter
How many oil companies do you know of that are making such a profit. What percentage of those companies represents the entire industry, especially the exploration and production projects going on in the United States?
I'll hang up and listen.
Posted on 3/30/15 at 11:08 am to Jack Daniel
quote:
Here comes the paralegals and waiters to say "good, I like cheap gas."
Because only poors enjoy saving money at the pump, right?
Posted on 3/30/15 at 11:11 am to fightingtiger2335
quote:
Big oil
Who is this?
Posted on 3/30/15 at 11:11 am to stout
I see it more as bad for long term gas prices. Sure, you're reaping cheaper prices at the pump today, but...
It's halting a lot of current exploration and probably any future exploration. The smaller companies are going broke because they can't recoup the costs they incurred over the last 5 years.
Once oil prices creep back to previous $80-$100 levels, you won't see anyone putting money into an O&G startup because they know it they can be screwed financially by the billionaires overseas trying to hold market share.
Saudi isn't doing this for the hell of it. It's a plan that will easily make the money back that they are losing with the current per barrel prices.
It's halting a lot of current exploration and probably any future exploration. The smaller companies are going broke because they can't recoup the costs they incurred over the last 5 years.
Once oil prices creep back to previous $80-$100 levels, you won't see anyone putting money into an O&G startup because they know it they can be screwed financially by the billionaires overseas trying to hold market share.
Saudi isn't doing this for the hell of it. It's a plan that will easily make the money back that they are losing with the current per barrel prices.
This post was edited on 3/30/15 at 11:12 am
Posted on 3/30/15 at 11:13 am to Jim Rockford
Well, as someone who is working/living thru this downturn, we are as busy as we can possibly be. And yes, I'm in "Oil and Gas".
Posted on 3/30/15 at 11:14 am to ragincajun03
quote:
Who is this?
Oh is this when i answer you pull out some cliche oil field wit that the trash finds funny or booming?
Hey big eirl isnt us blah blah blah
Posted on 3/30/15 at 11:15 am to tylercsbn9
quote:
I wish someone would tell the Houston appraisal district about this cratering economy so my tax bill will go down
Believe me. harris CAD as well as surrounding counties will have their asses handed to them with increase protests if they don't cap it this year and next.
Posted on 3/30/15 at 11:16 am to Slingscode
A lot of current projects along the energy corridor are being put on hold as a wait and see approach..
Motiva
Shell
Sasol
Elevance
Exxon
You name the company and they are cutting costs across the board they will affect a lot of people, and not just those in the O&G sector.
Motiva
Shell
Sasol
Elevance
Exxon
You name the company and they are cutting costs across the board they will affect a lot of people, and not just those in the O&G sector.
Posted on 3/30/15 at 11:19 am to LSUAlum2001
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