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Started By
Message
re: TM: “Houston Is Not Prepared for the Oil Bust“
Posted on 4/20/20 at 8:21 pm to Tyga Woods
Posted on 4/20/20 at 8:21 pm to Tyga Woods
quote:
Mostly blacks and Mexicans
Made me chuckle
I like Houston a lot - a lot of fond memories even though I wasn’t there for pleasant reasons, sucks that this will hit them hard. Hopefully they’ve diversified well like Dallas so they can weather this downturn.
Keep ya head up Houston baws
1
Posted on 4/20/20 at 8:22 pm to MrLSU
May buy up a couple houses for rentals. Have a long term plan to move back. Buy low!
Posted on 4/20/20 at 8:22 pm to BregmansWheelbarrow
quote:
It’s pretty crazy that when the economy goes through even a few weeks of instability the entire oil and gas industry is on the verge of ruin. How can such a giant industry be so unsustainable?
They had a double whammy. The price war and the Rona. I'm guessing Borden would get into trouble pretty quickly if a gallon of milk was suddenly worth 30 cents.
Posted on 4/20/20 at 8:24 pm to fallguy_1978
Could be worse you could live in Alaska where those dividend royalties are going to disappear.
Posted on 4/20/20 at 8:26 pm to MrLSU
quote:
Or will we harness our considerable talent to diversify employment into areas such as wind and solar manufacturing
Yes let’s diversify into another energy source when demand is zero and it’s competing energy sources are they cheapest they’ve been in decades. That’s the answer
Posted on 4/20/20 at 8:27 pm to MrLSU
TM is a communist rag.
Posted on 4/20/20 at 8:27 pm to Louie T
quote:
Can't wait to scoop a River Oaks CC mansion for 6 figs
Dems old money brah
Posted on 4/20/20 at 8:27 pm to fallguy_1978
yeah, double whammy. I guess it could be considered a triple based on the fact that when people do start driving with regularity again, the rock bottom prices won’t do much for the bottom line. What’s the solution? Completely exhaust the reserves and create a shortage to drive the prices way up to make up for everything they are going to have to basically give away?
Posted on 4/20/20 at 8:29 pm to BregmansWheelbarrow
Louisiana is as fricked as anyone. We have a pretty large amount of O&G jobs in the state.
Posted on 4/20/20 at 8:30 pm to ShaneTheLegLechler
quote:
Yes let’s diversify into another energy source when demand is zero and it’s competing energy sources are they cheapest they’ve been in decades. That’s the answer
It’s hilarious watching them think this is good for them. They don’t understand they missed the best time about ten years ago when oil was 120/BBL.
Posted on 4/20/20 at 8:31 pm to BregmansWheelbarrow
quote:
Completely exhaust the reserves and create a shortage to drive the prices way up to make up for everything they are going to have to basically give away?
We probably won’t; but you can count on Russia and SA will get their losses back.
Posted on 4/20/20 at 8:32 pm to MrLSU
Time for Exxon to get in the weed business.
Posted on 4/20/20 at 8:33 pm to fallguy_1978
Add to this that the industry never really solidly recovered after the 2015-2016 bust. Things haven’t really been “great” since 2014 tbh
Posted on 4/20/20 at 8:33 pm to BregmansWheelbarrow
This isn’t a few weeks of instability. This has been 2 straight months of people dramatically and borderline completely stopping the use of gasoline and jet fuel. Throw it on top, Saudi Arabia and Russia decided to try and bankrupt the US shale industry just before the global shut down happened.
Posted on 4/20/20 at 8:33 pm to Trout Bandit
quote:
If Houston's economy takes a downturn, ours is going to absolute shite.
Yep. That’s why I sought opportunities outside of Louisiana and got out when I got the chance. My job is ridiculously stable- I was thinking ahead for my kids.
The crash of petroleum is inevitable. Houston might be able to keep some of its economy by diversifying, but south Louisiana is a balloon just waiting to deflate. No way sugar cane and aquaculture can support the population.
Posted on 4/20/20 at 8:35 pm to fallguy_1978
I remember reading about shell pulling out of that billion dollar LNG deal on the coast. I wonder if they are going to shut down the building at Cameron LNG and what will happen to Sasol. Those are two of the biggest employers in the state.
Posted on 4/20/20 at 8:35 pm to reddy tiger
Louisiana’s budget is determined by the price per barrel of oil. The ones cheering now; will I’m sure, be shocked when taxes rise.
Posted on 4/20/20 at 8:36 pm to fallguy_1978
quote:
wind and solar manufacturing
Good luck selling wind and solar when natural gas and oil is so damn cheap. Greenies should be praying for expensive as shite oil and gas.
Posted on 4/20/20 at 8:36 pm to Boring
quote:
Add to this that the industry never really solidly recovered after the 2015-2016 bust. Things haven’t really been “great” since 2014 tbh
Yeah it's certainly been a choppy market. My dad worked on the corporate site of O&G for 35 years. He told me that he was glad he retired when he did (2007 or so).
This post was edited on 4/20/20 at 8:37 pm
Posted on 4/20/20 at 8:39 pm to MrLSU
Evan Mintz is a soy boy trash carpetbagger. He's begging for the worst so he can pat his wimpy self on the back. He'd break his dick fapping if the O&G industry crumbled forever.
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