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re: Who here has been affected by the drop in oil and gas prices?
Posted on 12/21/15 at 12:35 pm to redstick13
Posted on 12/21/15 at 12:35 pm to redstick13
quote:
I've been around the industry for 25 years and this is the worst decline I've been a part of.
hopefully we will be retired by the next big decline and won't have to worry
0
Posted on 12/21/15 at 12:40 pm to 13SaintTiger
quote:
Where did I say that? Link me you little booty scratching bitch. It seems everyone but O&G employers knew that the flourishing O&G bubble was going to pop. I never said I knew when or by how much, what I do know is that $80+ a barrel was an anomaly and wouldn't last. It doesn't take a brain surgeon to figure that much out.
It's funny because you talk about how obvious it was after the fact. You are just like anyone else who has perfect 20-20 hindsight vision.
Posted on 12/21/15 at 12:58 pm to whit
I've been affected by more money going in my pocket when I fill up for gas. Weird how Baton Rouge hasn't had layoffs. Not only that we are still getting raises and more work than we know what to do with. I guess because the majority of the Baton Rouge market is downstream and we are still riding the natural gas boom. But like all things that will come to an end and I'm sure we will be affected eventually. That's why you save and don't act like an idiot with your money when you are making it. I save if I will be laid off every 5 years for a couple years at a time. I've been working for 8 years and haven't been laid off yet so I consider myself lucky. But to live paycheck to paycheck in this industry, you'd have to be a complete moron.
Posted on 12/21/15 at 1:05 pm to redstick13
quote:
I've been around the industry for 25 years and this is the worst decline I've been a part of
That's sobering, and scary. If we all survive this, I'd say we lived through one of the worst, if not the worst...
Posted on 12/21/15 at 2:43 pm to ColoradoAg03
quote:
Probably affecting a lot of the local businesses like Field of Dreams.
This closed over a year ago, but other restaurants in that area are definitely much slower. Most sales guys don't have the same expense budgets as in the recent past
This post was edited on 12/21/15 at 2:44 pm
Posted on 12/21/15 at 3:39 pm to whit
It's affected me in a wonderful way. I don't have to watch Exxon post record breaking quarter after record breaking quarter with ten billion plus in profits and the rest of the oil companies doing extremely well. The higher ups making more in salaries than they could spend in ten lifetimes while the back bone of the country is left wondering how they are going to make ends meet.Vacations cancelled due to fuel prices being too high. It's effected my family-we're better off now. Greed has come back and bitten the greedy. Greed is good?-No- no it's not.
Posted on 12/22/15 at 5:38 am to windmill
Oil will be above $80bbl once demand outpaces production. When this happens OPEC will curtail production and the oil price will be subject to the production quotas again. Then $ 100 bbl is likely or they will keep the price around $60-80/bbl to discourage investment in oil sands and Deepwater exploration. Enjoy the cheap gas for a few years, it won't last.
Posted on 12/22/15 at 5:45 am to Asgard Device
Negative. Shale oil losses (600k bbl/s) have been offset by DW production gains. The will be limited capital for the surviving shale players.
Posted on 12/22/15 at 6:25 am to windmill
quote:
Greed has come back and bitten the greedy. Greed is good?-No- no it's not.
Oil companies don't set the price of oil
Posted on 12/22/15 at 7:25 am to whit
My career is secure and I am getting more for my dollar at the pump now.
Posted on 12/22/15 at 7:30 am to windmill
quote:The jealousy is strong in this one.
windmill
Posted on 12/22/15 at 7:39 am to whit
It's really really hard for me to feel sorry for an industry that enjoyed a financial boom for so long while ordinary citizens struggled to put gas in their cars some weeks now that the tables are turned.
Anyone in the oil industry should know how the market can change on a whim and/or when OPEC decides to flood the market with cheap oil.
Anyone in the oil industry should know how the market can change on a whim and/or when OPEC decides to flood the market with cheap oil.
Posted on 12/22/15 at 7:46 am to euquol
The discussion wasn't about feeling sorry for an industry. There are real people who aren't oil barons whose livelihoods have been severly affected. Unfortunately there are many people who don't bother to differentiate.
Posted on 12/22/15 at 7:49 am to redstick13
quote:
The discussion wasn't about feeling sorry for an industry. There are real people who aren't oil barons whose livelihoods have been severly affected. Unfortunately there are many people who don't bother to differentiate.
I know people who made 6 digits for several years and instead of saving money for "hard times" they want on lavish spending sprees and rubbed in my face how they made more than me without all the education. Hard to feel sorry for them as well now that they claim they have nothing.
Posted on 12/22/15 at 7:55 am to euquol
I had to lay off a single mother of one last month. She saved but it will be 6 to 12 months before she can realistically expect to find work again in her field. She wasn't making six figures and she wasn't rubbing anything in anyone's face. Sorry you had a bad experience and now paint all of us with your broad brush.
Posted on 12/22/15 at 7:56 am to TheIndulger
Well just to be an arse I have been callling this for the past 2 years or so on here. Can go check my post history. However didnt think it was going to last as long as it is which if barring anything crazy happening will be closer to 5-6 years than 2. And unlike the other guy that is actually from someone high up in Chevron and from the owner of a very large independent. Iran is coming back on line, no lnger an if but a when. If Iraq gets there shite in order they are hurting and desperatly need $ flow and can quickly ramp back up production. Russia and the non gulf members of OPEC cant afford to quit pumping as well as the vast majority of the shale players in the states. Enough still have hedges to get them through this year. The worlds, especailly China and SEA economies are going in the shitter so demand will stay down or even drop. Couple that with the fact that any increse in demand/ price will be quickly met by whoever is left in the shale plays. Its not gettting north of 50 anytime soon.
That being said for my sake and all fellow O&G workers I hope I am wrong.
That being said for my sake and all fellow O&G workers I hope I am wrong.
This post was edited on 12/22/15 at 7:58 am
Posted on 12/22/15 at 8:02 am to redstick13
quote:
I had to lay off a single mother of one last month. She saved but it will be 6 to 12 months before she can realistically expect to find work again in her field.
This is what I do not understand, mostly because they are so few fields that is as wonky as the oil field. If you know you are looking at a year before you can find a job, why not find something else you enjoy. A lot of skills are out there are transferable and desirable to employers.
This post was edited on 12/22/15 at 8:02 am
Posted on 12/22/15 at 8:04 am to GREENHEAD22
quote:
Its not gettting north of 50 anytime soon.
define anytime soon so I can bookmark this
Posted on 12/22/15 at 8:05 am to whit
I'll most likely lose my job in the next 3 - 6 months due to the drop in oil. I look forward to fleeing the oil industry though as I can't stand the waste and uneducated idiots in my field. 
Posted on 12/22/15 at 8:07 am to jlu03
Why wait?
jump ship before they have a chance to let you go
jump ship before they have a chance to let you go
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