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re: The Last Time The Price Of Oil Crashed Like This?
Posted on 12/22/14 at 8:21 pm to glassman
Posted on 12/22/14 at 8:21 pm to glassman
Danos is taking over the old Mcderrmott yard in Amelia, signed 3 new contracts with majors and are bringing 500 new jobs to the area.
That's positive news.
The reality is, nothing is going to happen until 3rd quarter 2015.
All you 30 thousand dollar millionaires in Laffy better start saving your money.
That's positive news.
The reality is, nothing is going to happen until 3rd quarter 2015.
All you 30 thousand dollar millionaires in Laffy better start saving your money.
1
Posted on 12/22/14 at 8:29 pm to tgrbaitn08
My project is actually giving fitters/welders 5k bonuses for every quarter worked as incentive to stay on the project.
Hell, our project manager asked me to commit to stay on this job till 2019.
Hell, our project manager asked me to commit to stay on this job till 2019.
Posted on 12/22/14 at 8:30 pm to lsut2005
Never been around a plant but worked as a production operator offshore during summers while in college.
Posted on 12/22/14 at 8:34 pm to yellowfin
If you own real estate in Baton Rouge, Houma, Lafayette, Lake Charles, Morgan City now is the time to put it up for sale because the real estate market is going to be sucking wind for at least a year until this price war is over.
Posted on 12/22/14 at 8:35 pm to Bushmaster
Where are you working?
City wise
City wise
Posted on 12/22/14 at 8:35 pm to Bushmaster
Good skilled labor is tight. This workforce we have nowadays will jump ship for just a few $$$ more a day. Spoiled little bitches
Posted on 12/22/14 at 8:35 pm to yankeeundercover
Yeah that website sucks and totally misattributes O&G as the reason for the recession. That was more of a demand caused phenomenon than a supply-caused one.
There is a really good article in WSJ this AM for those have a subscription (any smart, cool person uses this for their news). It confirms a lot of what people believed to be the case. The Saudis are concerned they are losing market share. If OPEC cuts production, other market participants such as Russia, Venezuela, and Nigeria can not be trusted to go along with it. So cutting production would hurt them, and they have the war chest to sustain fiscal pressure for the next 2 years while companies slow down production in some of the least economic areas of the Bakken, etc.
To the point of the website, no, we are not facing a recession as a result of this issue directly. However, people would be remiss to discount the huge impact the shale boom has on our economy, and the Fed has already revised down projections of growth for 2015 as a result, so it is a bad thung net-net for errbody.
There is a really good article in WSJ this AM for those have a subscription (any smart, cool person uses this for their news). It confirms a lot of what people believed to be the case. The Saudis are concerned they are losing market share. If OPEC cuts production, other market participants such as Russia, Venezuela, and Nigeria can not be trusted to go along with it. So cutting production would hurt them, and they have the war chest to sustain fiscal pressure for the next 2 years while companies slow down production in some of the least economic areas of the Bakken, etc.
To the point of the website, no, we are not facing a recession as a result of this issue directly. However, people would be remiss to discount the huge impact the shale boom has on our economy, and the Fed has already revised down projections of growth for 2015 as a result, so it is a bad thung net-net for errbody.
Posted on 12/22/14 at 8:36 pm to MapGuy
Closest city/lol is Johnson Bayou. Sabine Pass LNG
Posted on 12/22/14 at 8:36 pm to MrLSU
That's a big reason why my house is on the market right now.
Posted on 12/22/14 at 8:37 pm to Bushmaster
Can't we just start a war somewhere? That should fix the price of oil.
Posted on 12/22/14 at 8:38 pm to MapGuy
I will get you a job in our survey/laser scan department.
Posted on 12/22/14 at 8:39 pm to Bushmaster
Yeah your job is safe
That project is beast mode
That project is beast mode
Posted on 12/22/14 at 8:39 pm to Bushmaster
The Blackstone Group is going to drop some coin down there. That's why they bought Shells position in the Haynesville.
They are liquid enough to keep things rolling.
The biggest hurt we will face is Shale Oil production.
I know of 400+ layoffs in the Lafayette area for landmen. Service industry is about to get hit big as well
They are liquid enough to keep things rolling.
The biggest hurt we will face is Shale Oil production.
I know of 400+ layoffs in the Lafayette area for landmen. Service industry is about to get hit big as well
Posted on 12/22/14 at 8:40 pm to stout
quote:they could get a job supervising foreclosed house clean outs
which I am pretty sure you can be mentally retarded and still get a job as, are making $18-$24 per hour here in Lake Charles right now.
Posted on 12/22/14 at 8:40 pm to MrLSU
I'm sure I'll pick up a few more rent houses if the price does significantly drop.
Posted on 12/22/14 at 8:43 pm to tgrbaitn08
I've worked on the money side of war too but this shite is gravy compared to that.
Posted on 12/22/14 at 8:44 pm to MapGuy
Hercules Offshore just cut 400 jobs.
Posted on 12/22/14 at 8:46 pm to MapGuy
A friend of mine had a contract labor company for the past 10 years and just closed his doors today. Shut it down. Out of business!!
Posted on 12/22/14 at 8:46 pm to glassman
This will have an effect on New Orleans too. Property values will be hit hard in terrebonne and lafourche all the way up through Lafayette . But you are crazy if you think it won't trickle back and hurt NO to some degree as well.
Posted on 12/22/14 at 8:47 pm to tgrbaitn08
Our shop is looking to layoff 15+ next week.
Feel bad for the folks we are about to let go. Next 6 months will be tough.
Feel bad for the folks we are about to let go. Next 6 months will be tough.
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